HSA: Save it for Retirement
According to Fidelity Investments, the average 65-year-old couple retiring today will need about $300,000 for out-of-pocket healthcare expenses during retirement. And that doesn’t even include long-term care. One way to help pay for this enormous cost is to open a health savings account (HSA), which is a savings and investment vehicle designed to help people pay for medical-related expenses on a tax-free basis.To open one of these accounts, you must be enrolled in an HSA-eligible, high-deductible health insurance plan (HDHP). These are offered by many employers and also are available on the individual insurance market. One of the little-known advantages..
5 Tips for Job Seekers Over 50
You’ve got loads of experience in your field. You know things that only time can teach you. However, all of your experience and knowledge can sometimes work against you. And even though age discrimination is illegal, it doesn’t mean it isn’t prevalent. You can’t turn back the clock, but you can reshape how you present yourself. Here are a few good ways to get started.Learn New SkillsIf you see a job posting in your industry that requires knowledge of the software you don’t know, hop on YouTube or enroll in an online class. Certifications help, too, and are available in..
Technology Driven Accounting: How to Prepare Staff for a New Age in Accounting
Technology has no doubt changed the traditional way of doing things. Businesses and professionals are left with no choice but to adopt new technology to remain relevant in a changing environment.However, the successful adoption of this new age in accounting can happen only if you prepare your staff in advance.Why it’s Necessary to Prepare for the New Age AccountingTechnology offers many benefits; however, the constant rapid changes in technology create a major challenge to organizations and even to the professionals/employees. Some decide to stick with systems with which they are already proficient. Unfortunately, such a decision is not an option..
Blocking Voter Expansion, Proposing Greater Scrutiny of Inspectors General, and Paving the Way for Climate Change Measures
For the People Act of 2021 (HR 12) – This bill is designed to improve voter access to the ballot box by expanding automatic and same-day voter registration, vote-by-mail and early voting. The legislation also contains provisions that limit removing voters from voter rolls, strengthens ethics rules for public servants, reduces the influence of big money in politics and addresses other anti-corruption measures. The bill was introduced by Sen. John Sarbanes (D-MD) on Jan. 4 and passed in the House on March 3. In early July, the bill was blocked by Republicans in the Senate and its status is pending..
Restricted Stock & RSUs: 3 Planning Tips
Equity compensation is becoming more mainstream and is not just for executives anymore. Grants of restricted stock or restricted stock units (RSUs) are getting to be more common than stock options – and the rules are different, as is the tax planning. Below we will look at some of the particulars of how restricted stock and RSUs operate, how to understand a grant, planning for the tax consequences, and what to do after the shares vest.How Restricted Stock and RSUs WorkAt their core, restricted stock and RSU company shares that vest according to a schedule can be awarded as compensation...