Social Security | Worth Tax

Minimizing Tax on Social Security Benefits

April 10, 2018 by Alex Franch

Minimizing Tax on Social Security Has An Income Factor

Often, people ask, “How do I go about minimizing tax on social security income?” Let’s face it, people make very little on social security income and it is only going to get harder and harder. How much (if any) of your Social Security benefits are taxable depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits.
For this discussion, the term “Social Security benefits” refers to the gross amount of benefits you receive (i.e., the amount before any reductions due to payments withheld for Medicare premiums). For tax purposes, Social Security benefits are treated

Mid-Year Tax Check: July Tax Deadlines

June 28, 2016 by Alex Franch

Are you ready for your mid-year tax check up? No, we are not talking about at your doctor’s office. We are talking about at your tax preparer’s office. You would think July would give you some vacation time from tax deadlines. These tax due dates are fast approaching for July.

Are You ABLE? Achieving Better Life Experience

June 7, 2016 by Alex Franch

Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Before ABLE accounts existed, individuals with disabilities who were eligible for Medicaid or federal Supplemental Security Income were limited to a maximum of $2,000 in assets. These assets included bank savings accounts. There is good news for the disabled. Now that has all changed.