Single Point of View
Single Point of View is our way to occasionally share planning ideas relating to personal finance. Our goal is to pass along concepts that you may not be exposed to on a daily basis.
Massachusetts Employers: New Paid Sick Time Law
In November 2014, the voters of Massachusetts approved the ballot question requiring employers to provide earned paid sick time to employees. This new law comes into effect on July 1, 2015 and impacts employers of 11 or employees. Note, this is different than other regulations on healthcare that apply to "full time equivalent employees". In other words, this law accounts [...]
Year End Tax Planning
Looking for some opportunities to do some year end tax planning? Below is a link to 2 great lists from Samet & Co., a CPA firm in the Boston area. This is one of the best lists we've seen this year outlining strategies for actions you can take before year end. One for individuals and one for businesses. Tax Planning [...]
Medicare: What you need to know about Nursing Care coverage
One of the listed benefits of Medicare Part A is nursing care. However, there have been many examples of people being surprised by a bill for nursing care that Medicare said it would not cover. These situations can cur when someone is initially hospitalized, then moves to a nursing home for follow up care. It all has to do with how [...]
Medicare: Part B & D Premiums & Other Costs
We continue our Medicare Planning series of blogs with additional information on the costs of Part B & D plans. Below is the breakdown of costs for Part B coverage in 2014 (and the additional cost for Part D) based upon your Modified Adjusted Gross Income each year. We recommend looking at your tax return (and current year income assumptions) to see how [...]
Medicare: When & How to Enroll:
Medicare: When & How to Enroll: In our ongoing series of posts on planning for Medicare, we move onto when and how to enroll. Please click this link to view our previous post on Planning For Medicare, which provides an overview of the Medicare system.http://singlepointpartners.blogspot.com/2014/11/planning-for-medicare.htmlIt is important to enroll in at least Part A of Medicare during the window that [...]
Social Security: Cost of Living Adjustment 2015
Recently, the Social Security Administration announced its COLA (Cost of Living Adjustment) for 2015. This adjustment of 1.7% will be applied to payments beginning in January 2015.Also connected to this adjustment is the increase of wages subject to the Security Security Tax, going from $117,000 to $118,500.If you would like to learn more about how this adjustment is calculated, please [...]