Money

How the Pandemic Has Shaken Up Retirement

Pandemic-related job losses forced many older Americans out of the workplace in the past year, perhaps permanently. But the COVID-19 crisis also seems to have delayed some retirements. Remote work…

3 ETFs for a Better Earth

These ETFs not only invest in clean energy companies, they have posted huge, triple-digit returns over the past year.

Banks Charged Low-Income Americans Billions In Overdraft Fees In 2020

Overdraft fees are a silent but costly aspect of personal finance. The most recent Forbes Advisor Checking Account Fees Survey found the average overdraft fee is $24.38, with credit unions charging the highest fee compared to other banking institutions.    But what’s most striking about overdraft fees is that they are disproportionately shouldered by those who […]

How Fiduciary Duty Impacts Financial Advisors

Fiduciary duty is the requirement that certain professionals, like lawyers or financial advisors, work in the best financial interest of their clients. U.S. law dictates that members of certain professions who are doing business for certain clients be bound by fiduciary duty. Let’s take a closer look at fiduciary duty, what a fiduciary is, which […]

Are My Social Security Benefits Taxable?

MoneyTips

Social Security is generally considered a tax-free benefit, but that is not always the case. Depending on the amount of alternate income that you have in retirement and your filing status, you could owe taxes on up to 85% of your Social Security benefits.

If you receive Social Security or Social Security Disability Insurance (SSDI) income, you will also receive a Form SSA-1099 from the government. This form tells you the total amount of your benefits but does not tell you if any of your benefits are taxable, or at what percentage.

You can IRS Free File to e-file your return (if you make no more than $72,000), and the software will figure the taxable component of your benefits for you. However, you can get a reasonable estimate by combining half of your Social Security benefits with all other income (includi...

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