Article originally published on: https://www.wolterskluwer.com/ As taxpayers begin to prepare for the opening of filing season, there are a number of new items worth noting in the 2021 Form 1040 (and Form 1040-SR), as well as in the accompanying instructions. 2021 Recovery Rebate Credit The 2021 recovery rebate credit was paid out to eligible individuals as an advance payment (EIP) based

The new year will usher in bigger Social Security checks for many beneficiaries starting this month. That’s as a record 5.9% cost-of-living adjustment, or COLA, takes effect. It marks the biggest annual increase in about 40 years. In 2021, benefits went up by just 1.3%. The average retirement benefit will be about $92 per month

Contributing to an employer-sponsored retirement plan or an IRA is a big step on the road to retirement, but contributing to both can significantly boost your retirement assets. A recent study found that, on average, individuals who owned both a 401(k) and an IRA at some point during the six-year period of the study had

Article originally published on: https://www.inc.com/ Pause your Netflix binge and take an hour of your time to catch up on these money-saving to-do list items. Sometimes, money is like technology. Getting stuff done — whether it’s updating an operating system or moving a bank account — often takes longer than it should. There are some money chores, though, that can be done

Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2022 if you’re enrolled in Original Medicare Part A and Part B. Medicare Part B premiums According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits