Retirement Income

As we head into the first day of the work week, Monday, May 6, 2019, we're looking at sunshine and a chance of afternoon showers and thunderstorms with a daytime high in the low 70s, according to weather service forecasters. Activities include talks, art showings and demonstrations, presentations and more. Enjoy.

This set of classes includes Taxes in Retirement and Retirement Income Planning. Taxes in Retirement will equip you with the most up-to-date and comprehensive information regarding retirement taxation, including ways to efficiently harvest your income sources - whether they are Social Security, 401(k)/IRA, other sources, or a combination of them all. Using the information you'll learn during our seminar, you'll be better positioned to develop a successful retirement tax strategy that can potentially safeguard you from over-taxation - all with the goal of saving you money.

Mr. and Mrs. Moore lived in Ohio and their individual income tax returns for 2013, 2014 and 2015 were selected for audit by IRS. The audit report showed the taxpayers failed to report cancellation of indebtedness income; failed to report wages; failed to report retirement income and failed to keep detailed records of the non-cash contributions.

Especially older adults have a choice to consider, rent or own a home? Like most questions, it gets answered with more questions.
Do you want to stay in your home in retirement or do you want to move? If you stay, what will it cost for property taxes, insurance, maintenance, repairs and utilities? Will that total housing cost be easy or difficult to pay on the retirement income?

My parents are receiving Social Security payments. Should I be worried that their monthly checks will be cut and that I will have to make up the difference?

No, there are no plans to reduce benefits for current retirees. Even without any changes, current benefits are expected to be fully payable until about 2033.

I’ll be retiring in the next five to ten years. Can I expect my presently scheduled benefits to be paid to me at retirement?

Where to Retire magazine has picked Carson City as a top retirement destination. The capital city is profiled in the September/October issue, available nationwide on Aug. 13.

Carson City possesses qualities important to today’s retirees, said Where to Retire Managing Editor Annette Fuller.

CARSON CITY – The Governmental Accounting Standards Board (GASB) has voted to approve two new standards that the group says will substantially improve the accounting and financial reporting of public employee pensions by state and local governments.

Carson City has been selected by Where to Retire, the only magazine in America geared toward helping people with retirement relocation decisions, as a top retirement destination and will be profiled in the feature story “8 Tempting Low-Tax Towns.” The January/February 2012 issue will be available nationwide on December 20, 2011.

CARSON CITY – As Nevada policy makers get set to examine the state’s public employee pension plan in advance of the 2013 legislative session, a new report from the Center for State and Local Government Excellence offers some timely advice on how other government agencies have accomplished the difficult task.

Nevada experienced the greatest growth among the states in food stamp caseloads between 2007 and 2010 with an increase of 128 percent, according to a recent report from the Urban Institute.

CARSON CITY – Both Democrat and Republican lawmakers agree the 2011 legislative session will likely see a debate about the future of Nevada’s public employee pension program, but differences remain over whether radical change is needed to protect the state from a multi-billion long-term unfunded liability.

CARSON CITY – Nevada’s  leading gubernatorial hopefuls all acknowledge the importance of ensuring the long-term health of the public employee pension program, but the three Republican candidates – Gov. Jim Gibbons, former federal judge Brian Sandoval and former North Las Vegas mayor Mike Montandon – each say it is time for significant changes.