We help people analyze decisions that impact their financial future everyday. Often times, the analysis that goes into making a financial decision is focused on what will have the most positive impact on your bottom line. However, we are often reminded that the choice that may have the "best result" from a financial standpoint is not [...]
It's Sunday, which means another snow storm in Eastern Massachusetts. As I listen to our apartment's forced hot air fan turn on again, I can't help but think about my electric bill. Last month, we were victims of, "yes I know rates are going up, but really, how much could it impact us?" Well, it did. [...]
This financial checklist is in no way meant to be legal recommendations and is intended to get you started on tying up loose ends related to a loved one’s passing. A couple of things to note: 1. Since each estate is unique, your own legal and accounting professionals should guide you through the overall process. 2. If you [...]
A quick note about the impact of filing for Medicare on HSA plans. If you are still working past 65, and are enrolled in an HSA plan through your health insurance plan, you want to be careful about your selections for Medicare.Enrolling in any part of Medicare, including enrolling only in Part A, makes you ineligible [...]
The numbers were released back in October, but the first week of January is the time where many folks increase their automatic deferrals into 401k plans and other tax favorable accounts. With that said,we thought it would be timely to remind everyone of the increase in limits for 2015. Below is a brief summary of the [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]