Finding love later in life may be unexpected and exciting, but should it lead to marriage? The considerations are much different for an older couple with adult children and retirement plans than for a young couple just starting out. Before deciding whether to get married or just live together, you need to look at your estate plan, your Social Security benefits, and your potential long-term care needs, among other things. Here are some things to think about: Estate Planning. Getting married [...]
Taxpayers with long-term care insurance policies can deduct some of their premiums from their income. Whether you can use the deduction requires comparing your medical expenses to your income in a complicated formula. Premiums for qualified long-term care insurance policies are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of the insured's adjusted gross income. In tax year 2016, taxpayers 65 and older [...]
From Jan. 31st through Feb 1st, 2017, Scott Kurkoski attended a Renewable Energy Law Conference presented by the University Of Texas School Of Law, Austin, Texas. The conference focused on wind and solar and the law, economics, technology, finance, tax, and regulatory policies of the renewable energy industry.
The Special Needs Trust Fairness Act, federal legislation that allows people with disabilities to create their own special needs trusts instead of having to rely on others, is now law. The measure was included in the 21st Century Cures Act, a $6.3 billion package of health-related initiatives signed by President Obama on December 13, 2016. The Fairness Act, introduced in 2013 by Rep. Glenn Thompson (R-Pa.), fixes an especially frustrating drafting error in the Social Security Act that has [...]
While you are eligible to apply for Medicare when you are 65, there are circumstances where you might not want to, particularly if you are working full time for a larger employer or contributing to a health savings account. However, there can be penalties if you don't sign up at the right time, so it is important to know when you can delay signing up for Medicare without facing a penalty. You can first sign up for Medicare during your Initial Enrollment Period, which is the seven-month period [...]