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Standard Deduction and Income Thresholds Increasing in 2022

2021-11-12T12:38:42-05:00November 12th, 2021|Blog|

Standard Deduction and Income Thresholds Increasing in 2022 By: Stacey Nickens This past week, the IRS announced the 2022 tax brackets. With inflation on the rise, the IRS has raised the income thresholds for each tax bracket as well as the size of the standard deduction. Both tax brackets and the standard deduction will rise [...]

Social Security Will Increase Significantly in 2022

2021-10-18T13:38:19-05:00October 18th, 2021|Blog|

Social Security Will Increase Significantly in 2022 By: Stacey Nickens Retirees will see a large increase in their Social Security benefits in 2022. Last week, the Social Security Administration announced that the cost-of-living adjustment will be 5.9% in the upcoming year. However, seniors should keep in mind that benefits are increasing because inflation is increasing. [...]

Social Security Benefits Could Increase Significantly in 2022

2021-09-17T11:38:49-05:00September 17th, 2021|Blog|

Social Security Benefits Could Increase Significantly in 2022 By: Stacey Nickens News headlines are rarely optimistic, but seniors may be excited by some headlines projecting a large cost-of-living adjustment for Social Security benefits in 2022. Each year, the Social Security administration calculates a cost-of-living adjustment for Social Security benefits. With inflation and prices on the [...]

Investing During Periods of Inflation

2021-05-17T11:40:03-05:00May 17th, 2021|Blog|

Investing During Periods of Inflation By: Stacey Nickens I logged onto my computer this morning, and the first headline to pop up read, "Is inflation set to soar this summer?" Investors have become increasingly concerned that inflation is on the rise, and these worries have been exacerbated by the Fed's changing policies around inflation. In [...]

Tax Changes Made by the American Rescue Plan Act

2021-03-22T16:30:02-05:00March 22nd, 2021|Blog|

Tax Changes Made by the American Rescue Plan Act By: Stacey Nickens The American Rescue Plan Act was signed into law on March 11, providing for a third round of stimulus to some American families. Taxpayers and their dependents may each be eligible for up to $1,400 in stimulus payments. In addition to these payments, [...]

Social Security Benefit Increase for 2021

2020-10-14T16:11:06-05:00October 14th, 2020|Blog|

Social Security Benefit Increase for 2021 By: Stacey Nickens On Tuesday, the Social Security Administration announced their cost-of-living adjustment for 2021. Recipients' benefits will increase by 1.3%, which amounts to an average monthly increase of $20. CNBC estimates that the average Social Security benefit will increase to $1,543 from $1,523. Additionally, the average disabled workers' [...]