Click Here for PDF Newsletter October 2017 | The bill for underfunded pensions of local governments in Illinois will be delivered via higher real estate taxes. Laws restricting increases in tax levies will provide limited protection to taxpayers. Background On August 29th the Illinois Senate passed an education funding bill (SB 1947). It was signed [...]
Click Here for PDF Newsletter August 2017 | Illinois politicians again go through the motions, enacting pension law changes that don’t address the problem of underfunded public pensions. Background In our January 2017 newsletter ("When assuming a ladder won’t work. Time for a reality check on pensions."), we discussed the problems with actuarial assumptions for [...]
Click Here for PDF Newsletter March 2017 | Criminals plying their trade on the Internet are engaging in more sophisticated phishing and blackmail scams. Background Now that the tax season has begun, confidential documents are flying between tax preparers and clients. You will see news stories about hackers gaining access to databases and stealing personal [...]
Click Here for PDF Newsletter February 2017 | Cheap credit and relaxed credit standards during this business cycle have already brought future auto sales forward. The industry is unprepared to deal with any increase in interest rates. Background During this business cycle vehicle production doubled from the low point in 2009. From a historical perspective, [...]
Click Here for PDF Newsletter January 2017 | Interest rate suppression policies by the Federal Reserve and mismanagement at the state and local level have created a government pension problem that won’t go away. When assuming a ladder won’t work. Time for a reality check on pensions. Q: What do you do when you’re stuck [...]
Click Here for PDF Newsletter A. GET THE INFORMATION YOU NEED TO MAKE A DECISION ON HEALTH INSURANCE COVERAGE FOR 2017 Action: Determine whether your existing coverage is renewable for 2017. Check for changes from 2016: Premium Deductible Health Savings Account options Coinsurance percentages In network Out of network Go to healthcare.gov [...]
Click Here for PDF Newsletter Is the government using in action indexing sleight-of-hand to increase wage taxes while leaving retiree benefits at? Is dirty in action indexing being done by the Social Security Administration? Background On October 18, 2016 the Social Security Administration (SSA) announced that recipients will get a 0.3% cost- of-living adjustment (COLA) [...]
Click Here for PDF Newsletter A. GET THE INFORMATION YOU NEED TO MAKE A DECISION ON HEALTH INSURANCE COVERAGE FOR 2016. The Affordable Care Act levies penalties on individuals who do not have health insurance coverage. The penalty for 2016 is 2.5% of your Modified Adjusted Gross Income or $695/adult plus $347.50/child, whichever is greater. [...]
Click Here for PDF Newsletter It’s the sound of money being sucked into the healthcare system. Here Come The Penalties Penalties for individuals not having health insurance were small in 2014, increased in 2015, and take full effect in 2016. You pay the maximum of the two penalties. Healthcare spending is draining disposable income from [...]
Click Here for PDF Newsletter Background A number of states clustered in the Midwest and Maryland have county income taxes. These include Indiana, Kentucky, Ohio, and Pennsylvania. Certain large cities impose income taxes on residents, and on non-residents with sourced within the city. These include Newark, New York, Philadelphia, and San Francisco. Most states tax [...]
