Key Takeaway: Children of a deceased parent may be eligible for Social Security child benefits, which can help provide financial support and stability during a difficult time. Eligibility for child Social Security benefits depends on the child’s age, relationship to the deceased parent, and the parent’s work history, including the number of credits earned and…
Key Takeaway: Combined Income is the total income, including wages, self-employment income, and investment income, used to determine Social Security benefit eligibility and taxability. Certain types of income, such as tax-exempt interest and certain pensions, are excluded from Combined Income. Calculations are based on a formula that takes into account half of the individual’s Social…
Key Takeaway: Some political groups advocate for ending Social Security: There are groups that argue Social Security is financially unsustainable and needs to be phased out. These groups believe that individuals should be responsible for their own retirement savings. Arguments against Social Security may not consider its importance: Although arguments against Social Security exist, it…
Key Takeaway: Get the right education and qualifications: An undergraduate degree is essential, while a graduate degree and a CFA designation can give you an edge. Make sure your education is relevant to investment banking. Network effectively: Attend industry events, reach out to alumni associations, and engage with professionals on social media. Building strong relationships…
Key Takeaway: The Additional Medicare Tax is a tax on net investment income earned by high-income taxpayers, designed to help fund Medicare programs. The rates for the Additional Medicare Tax vary based on the taxpayer’s filing status and income level, with rates ranging from 0.9% to 3.8%. The calculation of the Additional Medicare Tax includes…
Key Takeaway: Investment funds pool money from individual investors to invest in a diversified portfolio of assets, managed by professional fund managers. This allows individual investors to access a wider range of investment opportunities than they would be able to invest in on their own. There are different types of investment funds, including mutual funds,…
Key Takeaway: Pennsylvania Real Estate Investment Trust (PREIT) is a real estate company that owns and manages shopping malls and other retail properties in the United States. The symbol of Pennsylvania Real Estate Investment Trust is PREIT, which is used as its stock ticker on the New York Stock Exchange. The symbol PREIT represents the…
Key Takeaway: Demi Pension in France refers to a type of accommodation package that includes breakfast and one other meal, typically dinner, in the cost of the room. This package saves travelers money compared to purchasing meals separately, and can also provide greater flexibility in meal choices than staying at a hotel. However, travelers should…
Key takeaway: Certain government employees, including federal employees hired before 1984, do not pay Social Security taxes and are covered by different retirement plans. Railroad employees are covered under a separate retirement program called the Railroad Retirement Act, which provides similar benefits to Social Security. Farm workers are not covered by Social Security if they…
Key Takeaway: It is important to protect your Social Security number to prevent identity theft and fraud. You can put a block on your Social Security number by contacting credit bureaus, freezing your credit report, or using an identity theft protection service. To further protect your Social Security number, it is recommended to never give…
Key Takeaway: Collection agencies can obtain social security numbers through various means, including credit reports, public records, and social engineering tactics. It is important to be cautious of who you share your personal information with and to monitor your credit report regularly to prevent unauthorized access. Legal implications of collection agencies acquiring social security numbers…
Key Takeaway: It is important to understand the types of Social Security benefits available for tax filers, which include retirement benefits, survivor benefits, and disability benefits. To file taxes using Social Security benefits, one needs to access the Social Security benefits statement, which provides information required for tax filing. Taxable Social Security benefits can be…