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What To Expect From the Payroll Tax Holiday Christmas came early this year. Well, sort of. In an effort to provide financial aid to millions of Americans in dire economic straits, President Trump declared a payroll tax holiday between September and the end of the year. Available to workers who earn $104,000 a year or less, this means that no FICA taxes will be taken out of paychecks by employers that opt into the program. This enables workers to take home more income. Unfortu...nately, while that may help households whose hours have been reduced, are burdened with health care bills or other expenses that have cropped up during the pandemic, it doesn’t help the 27 million people who actually lost their jobs. The payroll tax is noted as a FICA tax on paycheck stubs. It refers to the Federal Insurance Contributions Act, which deducts taxes before wages are paid allowing the government to pay for the Social Security and Medicare programs. This means 6.2% of your salary up to the first $137,700, is deducted from your take-home pay. According to the Social Security Administration, 95% of U.S. workers make less than $137,700 a year. The 5% who earn more pay no additional FICA taxes on their income above $137,700. https://soutas.com/fresno-financial-consultant-news-what-t/ Reserve Your Tele-Visit Today https://www2.apptoto.com/b/soutas_dale_3/

Will You Be Able To Afford In-Home, Long-Term Care? More than 90% of America’s older adults prefer to age in place in their own homes rather than in a senior housing community or facility. With today’s insight into how a deadly pandemic can affect nursing homes as of September 6, COVID-19 has claimed nearly 55,000 nursing home residents’ lives this preference may be prudent from a health care standpoint. However, aging at home also can be quite expensive. Much depends o...n the level and amount of care you require. And, as you can imagine, those levels are likely to increase as you get older. For some, it starts out as light housekeeping and running errands. That may progress into cooking meals and taking you to doctor appointments. Eventually, you may need someone to help you dress, groom and move around. A few hours a week could eventually change into 24-hour care, depending on your rate of health and/or mental decline. According to the 2019 Genworth Cost of Care Survey, the average cost of an in-home caregiver is $22.50 per hour.3 If you need someone for eight hours a day, that could run you about $5,400 a month. If you need 24-hour care because, for example, you need help walking to the bathroom in the middle of the night, that cost could quickly amount to $16,200 a month. Is that a potential cost you’ve factored into your retirement income plan? https://soutas.com/fresno-retirement-consultant-news-will-/ Reserve Your Tele-Visit Today https://www2.apptoto.com/b/soutas_dale_3/

What to Expect: A New Term In Washington Overview 2020 brought a very powerful pair of crises: A worldwide pandemic and the deepest recession since World War II. While most Americans have been affected in one way or another, the variance in impact on individual households is staggering kind of like the way a tornado can demolish one house but leave the homes situated on either side intact.... Households in which income could continue to be earned, be it from an essential job such as a health care worker, grocery stork clerk or mail carrier, or a position which could be transitioned to work from home, have in many cases been unscathed by the economic decline. Yet others with employees who work in hard-hit industries such as travel, hospitality, food and beverage may have lost their jobs, their livelihood and even their health insurance, life insurance and matching retirement plan contributions. Many entrepreneurs have had to shutter their small businesses. For these households, the economic situation may be dire, threatening their ability to pay for basic necessities such as food, housing and transportation. Worldwide, millions of people have been displaced from jobs, consumer spending has dropped precipitously and company plans for growth and expansion have been put on hold. All G7 countries experienced significant plunges in gross domestic product this spring. https://soutas.com/fresno-financial-advisor-news-what-to-e/ Reserve Your Tele-Visit Below https://www2.apptoto.com/b/soutas_dale_3/

Learn more about Tax Strategies for Retirement, including: -Tax deferral is not forever -Will taxes be lower in the future?... -Strategies to help minimize taxes in the future https://soutas.com/problems-w/retirement-income-strategies/

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How Are Medicare, Long-Term Care, Medicaid and Medi-Cal Different? https://soutas.com/how-are-medicare-long-term-care-medicai/ Click Below to Schedule a 15 Minute Tele-Visit https://www2.apptoto.com/b/soutas_dale_3/

3 Steps to Help Have a Simple Life! Help Now, Really? Yes https://soutas.com/3-steps-to-help-have-a-simple-life/

Fresno Retirement Consultant News: Health Care Woes Predicted Long Ago The possible effects of a pandemic like COVID-19 were not entirely unexpected. Since the report above was released, the U.S. had more than 13 years to better prepare for a widespread illness by addressing problems in the nation’s health care system. Although the media continues to report health care is the top priority for Americans, the large, structural changes necessary to provide quality, affordable h...ealth care resources nationwide have not surfaced.No retirement strategy is complete without addressing the costs of health care and long-term care. Retirees are living longer and health care expenses continue to rise.2 If you feel your retirement strategy may be inadequate to help cover medical expenses in the future, please give us a call. We can discuss insurance products, such as life insurance and annuities, that can provide various options that may help meet your financial needs. https://soutas.com/fresno-retirement-consultant-news-healt/

Will You Lose Your Home If You Use Medi-Cal? Watch Our Video for the Answer https://youtu.be/SbKUQ5z0CF0 Dale Soutas, Fresno Financial Advisor & Retirement Planning Click Below to Schedule a Tele-Visit... https://www2.apptoto.com/b/soutas_dale_3/ See more

Fresno Financial Consultant News: Remember When Life Was Simpler?, via Soutas Financial & Insurance Solutions Inc. https://youtu.be/LeD_YaA-GQs https://soutas.com/fresno-financial-consultant-news-rememb/

Fresno Financial Consultant News: Remember When Life Was Simpler? https://soutas.com/fresno-financial-consultant-news-remem/

Fresno Retirement Advisor News: The Highs and Lows of Dollar-Cost Averaging https://soutas.com/fresno-retirement-advisor-news-the-hig/

Fresno Retirement Advisor News: The Highs and Lows of Dollar-Cost Averaging, via Soutas Financial & Insurance Solutions Inc. https://ift.tt/35B86Xx

Fresno Financial Consultant News: College Disrupted https://soutas.com/fresno-financial-consultant-news-colle/

Fresno Financial Consultant News: College Disrupted, via Soutas Financial & Insurance Solutions Inc. https://ift.tt/3j7Ubgt

Fresno Retirement Consultant News: Policy Issues, Stock Market Performance and the Election https://soutas.com/fresno-retirement-consultant-news-poli/

Fresno Retirement Consultant News: Policy Issues, Stock Market Performance and the Election, via Soutas Financial & Insurance Solutions Inc. https://ift.tt/3dD6EYC

Fresno Financial Advisor News: Feeling Financial Stress? Here’s How to Cope https://soutas.com/fresno-financial-advisor-news-feeling-/