Entries Categorized as 'Finances/Tax'

Quick facts on the Economic Stimulus Package

Date February 14, 2008

The Recovery Rebates and Economic Stimulus for the American People Act (February 13, 2008) is the federal “rebate” program highlighted in the media recently.
Who will receive rebate checks?
1. Americans who paid income taxes in 2007 will receive at least $300 for an individual, with married couples receiving at least $600, plus an additional $300 per […]

The interplay between retirement benefits, spouse’s option to elect earnings records, and survivor benefits

Date January 11, 2008

US News & World Report helps potential retirees figure out their Social Security benefits with Emily Brandon’s article “Marriage and Social Security Benefits.” The article provides a good overview of the interplay between retirement benefits, spouse’s option to elect earnings records, survivor benefits, and different scenarios that demonstrate the best strategy to maximize benefits.
Some […]

Corporate wives

Date August 14, 2005

The New York Times examines divorce and the corporate wife.
Geraldine Fabrikant writes (excerpt):
“Corporate spouses are less likely to be quiet and accepting of what is going on,” Mr. Nissenbaum said. “They are less willing to spend the next 30 years helping their corporate mates climb the ladder even though there might be a far larger […]

Frames of Mind

Date November 11, 2004

New tax laws challenge the conventional wisdom about where to invest retirement savings.
When it comes to Uncle Sam’s cut of your nest egg, you can pay now or later. Even recent tax legislation hasn’t altered that. What have changed are the tradeoffs of holding particular kinds of assets in tax-deferred and taxable accounts.
It […]

Banking on a divorce

Date July 14, 2004

credit advice for spouses aniticipating divorce

QDROs, taxes and the alternate payee

Date June 15, 2004

10% penalty on early distributions from qualified retirement plans

Taxing late payments

Date June 8, 2004

remains deductible from the payer’s gross income and taxable to the recipient’s gross income in the year it is actually paid

Women have what it takes…

Date June 3, 2004

Women are living longer and enjoying more active senior years than ever before. However, just as this door to unprecedented liesure time is opening up, the traditional means of funding retirement - social security and pension plans - are becoming less able to meet retiree’s needs. Women still have what it takes to do what is necessary.

Women and Retirement - a tug-of-war?

Date May 27, 2004

If you’re a woman, chances are you face a tug-of-war of sorts when planning for retirement.

Paying child support as alimony

Date May 26, 2004

IRS may recharacterize the payment as child support

Am I prepared

Date May 24, 2004

Roughly 90% of all women will end up managing their finances alone at some point in their lives. Unfortunately, the first time that many women become involved with some financial matters is during a crises, such as a spouse’s death or divorce. We’ve prepared a list of thought-provoking questions.

Excess alimony payments

Date May 18, 2004

the three-year recapture rule

Taxable, deductible

Date May 11, 2004

requirements for spousal support (alimony) to be taxable as income to the recipient and deductible to the payor

Incident to divorce

Date May 4, 2004

Property transfers between spouses in connection with a divorce creates no gain or loss and no additional income

Innocent spouse relief

Date April 27, 2004

the larger the benefit enjoyed by the petitioner, the less unfairness in paying something toward that benefit and the less likely the IRS will be sympathetic to the claim

Filing jointly

Date April 20, 2004

If the parties are married as of December 31st, they may take advantage of their Married Filing Jointly tax status

Who gets the dependency exemptions?

Date April 13, 2004

exemptions for children of divorced parents

Head of the house

Date March 30, 2004

Head of Household filing status provides more favorable tax rates to an unmarried individual who maintains a household for certain dependents

Talking cash

Date January 15, 2004

marriage and money

Financial tips for the new year

Date January 8, 2004

seven ways to get your finances in order for 2004