Dont Archives - DR News - News, Retirement, Finance

FRA Impacts Social Security – Don’t Get Hit with Early Retirement Penalties

As baby boomers reach retirement age, the decision of when to claim Social Security benefits becomes increasingly important. In 2024, those turning 66 may find themselves eager to claim their benefits, believing they can do so once they reach this milestone age. However, the reality is that claiming Social Security benefits at 66 may not be as straightforward as it seems. In fact, for some individuals, waiting until 2025 may be necessary in order to …

Retirement Payment Schedule: Social Security Checks for April – Don’t Miss Your Date!

Tampa, Florida – United States retirees eagerly anticipate the arrival of their monthly Social Security payments, which are crucial for many to cover living expenses. Understanding the schedule and timing of these payments can help retirees plan their finances efficiently. The Social Security Administration recently disbursed the first two rounds of payments for April 2024. Beneficiaries in Group 1 and Supplemental Security Income (SSI) recipients have already received their funds. The SSI payment was distributed …

Tax Break Opportunity: Don’t Miss Out on Retirement Saver’s Credit for 2023 Taxes

Fresno, California – Tax filers have an opportunity to benefit from a tax break known as the retirement saver’s credit for the 2023 tax year. Despite this opportunity, the IRS estimates that only a small percentage—5.7%—of taxpayers claimed the saver’s credit for their 2021 taxes. The retirement saving contribution credit, also known as the saver’s credit, aims to assist low- to moderate-income individuals in offsetting a portion of the funds they contribute to individual retirement …

Nontaxable Income Insights: Discover What You Don’t Need to Report to the IRS

The IRS can be a source of frustration for many hardworking individuals in handling taxable income. While wages, tips, and commissions are commonly taxed by the federal government, there are various forms of income that are exempt from taxation. Understanding what income is taxable can be a complex process that requires careful consideration of rules and regulations. To navigate through the complexity of taxable income, consulting with a trusted tax professional or financial adviser can …

Social Security Alert: Nikki Don’t Lose That Number for Unclaimed Benefits

Los Angeles, California – Social Security is essential for many people in the United States, providing financial support during retirement and in the event of disability. However, the process of applying for and receiving Social Security benefits can be complex and overwhelming for some individuals. In recent years, there has been an increase in the number of individuals who are being denied Social Security benefits upon their initial application. This has led to a growing …