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Social Security for Minor Children, Part 1

The minor children of parents who are eligible for social security are also eligible for dependent benefits, but be sure it’s beneficial to both parties in the long term.

Social Security for Minor Children, Part 2

The minor children of parents who are eligible for social security are also eligible for dependent benefits, but be sure it’s beneficial to both parties in the long term.

Should Business Owners Put Their Spouse on Payroll for Social Security Purposes?

When one spouse owns a business and the other does not work, it may seem beneficial from a social security standpoint to add the nonworking spouse to the business payroll. A look at the math may change your mind.

The Effect of Self-Employment Taxes and Social Security

The question of whether business owners should continue paying themselves a high salary in order to increase social security benefits is really about the return on investment they might receive in exchange for paying self-employment taxes.

 

The Latest Scam - Suspended Social Security Number

Understand the threats. Scammers are actively and increasingly using phone calls, emails, and text messages to get people to send money or part with personal information. These communications often look legitimate.

3 More Social Security Traps to Avoid

For some folks, Social Security may seem simple. For others, it feels as if you’re entering a complicated financial maze.

3 Social Security Traps to Avoid

When it’s time to claim social security benefits, there are a few common mistakes that people sometimes make that can cost them money.

Q&A

 

I get a number of questions about Social Security and which benefit to claim.  With 567 different strategies, no wonder there is confusion. Today I offer 2 frequently asked questions:

Life Expectancy and Social Security

Life expectancy is a critical element in Social Security planning. The total amount you stand to receive over your lifetime hinges on how long you and your spouse live. Nothing maximizes total Social Security benefits more than extreme longevity.

Q&A: When Should I Start Social Security?

The Social Security Administration has published studies and come up with a surprising statistic – that over 75% of those who are on social security are NOT maximizing their benefits. One of the major reasons is that 34% of those eligible start their benefits as soon as they become 62. Claiming early, or as I refer to it, “in the penalty phase”, could be costing the household anywhere from $50,000 to $250,000 of income over their lifetime.