admin

Apparently South Dakota has become a great place for a wealthy individual to shield his or her assets. Long before Ed Bosarge sought for divorce, assets were transferred to a series of trusts. South Dakota has been said to be the mini Switzerland, which is used to be known from its secrecy laws regarding a […]

It’s apparent that many IRS offices have been closing during this pandemic. Not even telephone assistance is available at the present time. In addition, the NTEU is declaring for a tax-filing deadline extension to October 15, 2020. References: Erb, K. (2020, March 25). IRS Quietly Closing Offices During COVID-19 Crisis, But Union Says It’s Not

Did you know that you have up to three years to amend a tax return? For the 2019th tax year, the IRS now allows tax payers to electronically file an amended return. Did you know that our team also helps with tax strategies? A tax return should be amended to correct previous mistakes or to

The Disability Insurance Trust Fund has very positive news concerning 2020 and the future. It is expected for this Trust Fund to pay full benefits for 33 years longer than the 2018 report. However, this report does not reflect the post pandemic effects of Covid-19. Furthermore, Social Security is expected to remain solvent. In addition,

Healthcare costs for the Covid-19 pandemic may put a strain on Medicare Funds. There are two issues concerning Medicare Funds, which are the following: (1) the amount of taxes being allocated to the funds may be too small; or (2) the amount of payments being expensed are too high. References: Rovner, J. (2020, July 21).

The Social Security Trust Fund could be depleted 4 years earlier than expected because of the Covid-19 Pandemic. The Social Security Administration is estimating that the fund would be depleted by 2032 instead of 2036. As you may know, Social Security is not intended to provide for one’s total retirement income. It will be best