There have been several articles written on the projected solvency of the Social Security System. When is the fund projected to run out of money? What are some options to improve the solvency of the system? How does this potential insolvency impact tax planning for young individuals?
  1. There have been several articles written on the projected solvency of the Social Security System. When is the fund projected to run out of money? What are some options to improve the solvency of the system? How does this potential insolvency impact tax planning for young individuals?
Several states have rules about the taxability of payments received under a defined benefit plan that are in contrast to the federal rules. First, discuss why some states choose not to tax those payments. Next, choose a state that has an income tax and discuss that state’s laws for taxing this type of income.
  1. Several states have rules about the taxability of payments received under a defined benefit plan that are in contrast to the federal rules. First, discuss why some states choose not to tax those payments. Next, choose a state that has an income tax and discuss that state’s laws for taxing this type of income.