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INCOME TAX IN RETIREMENT
70-year-old woman's Social Security check suddenly falls to $2,700; told to repay $35,000 within 30 days or face 50% benefit cutA woman in her 70s was shocked when her Social Security payment dropped to about $2,700 a month and the SSA told her to repay $35,000 in al...- Woman retired at 64 with $380,000 in her 401(k). Nine years later, her first RMD faced a 22% tax rateDuring the gap years, retirees often overlook essential tax planning opportunities. This crucial time allows them to manage their taxable i...
- Will you get EPF interest till 58 years of age if you leave job at 40? EPFO explainsEven if you've left your job, your EPF interest keeps accumulating until you turn 58. However, if you don’t contribute for three years, you...
- Can you stop NPS contributions for a few years? Know the impact before you take a breakExperiencing a financial setback? Halting NPS contributions may appear to be the only option, but have you considered the long-term consequ...
- ₹79 lakh more at retirement? How a small monthly VPF contribution can boost your retirement corpusVoluntary Provident Fund offers a stable retirement savings avenue for salaried employees. Additional VPF contributions can significantly g...
- Trump pledged fiscal restraint. Instead, debt tops $40 trillion as borrowing costs riseUS debt: While voters may not focus on the issue until the country's fiscal problems translate into benefit cuts or tax hikes, the fallout ...
- School assembly news headlines for September 2: Top India, world, sports and business updatesSchool assembly news headlines for September 2: Stay updated with the latest national, international, sports and business developments maki...
- Canada benefit payments in September 2026: Who is getting money, when the payments arrive and why some Canadians will have to wait until OctoberCRA payments September 2026: Several government benefit payments are set to reach eligible Canadians in September 2026, but the money won't...
- Lifecycle funds: Should you invest in target-date funds for your financial goals? Know the benefits, risks and limitationsGoal-based investing is not a new concept. Mapping investments to specific goals gives your outlay a defined purpose, helps you stay commit...
- New labour code impact: Rs 8k less take home pay likely for employee with Rs 15 lakh CTC; check the impact on CTCs of Rs 10 lakh, Rs 25 lakh and Rs 50 lakhNew labour codes mandate higher provident fund contributions for employees. This change reduces monthly take-home pay for many salaried ind...
- Social Security to increase? Who is eligible to get $200 extra payment in Social Security benefits next month and when will it be paid?Social Security benefits: A proposed $200 Social Security increase is gaining attention as millions of Americans look for ways to cope with...
- Retiring early? Know how much tax exemption can employees claim for VRSYou can claim full tax exemption on VRS if the scheme was launched under special framework; Know how it works for employees claiming VRS.
- A 73-year-old Oklahoma farmer battled years of drought before leasing land for five wind turbines. The wise decision transformed his farm incomeFacing the challenges of a drought-stricken Oklahoma, Bob Kerr found his wheat and cattle farming income dwindling. However, the five wind ...
- Canadians could get up to $1,507.65 from Canada Pension Plan (CPP) and $827.17 from Old Age Security deposits (OAS) this week: Check payment date, eligibility and moreCanadians could receive their next CPP and OAS payments on August 27, 2026, with eligible seniors potentially receiving up to $1,507.65 in ...
- Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law saysSeverance pay received under a voluntary retirement scheme is not always taxable for all employees; Know why and what the tax law says
- Over Rs 1 crore invested in mutual funds, NPS, PPF and FDs: Should this PSU banker increase equity exposure with 18 years to retirement?A 42-year-old PSU bank chief manager, who recently welcomed twins, sought a review of his family’s financial portfolio. With around 18 year...
- August 31 ITR filing deadline: ITR-3 or ITR-4? Which form you should choose while filing your income tax returnTaxpayers engaged in business activities must submit either ITR-3 or ITR-4 by the deadline of August 31, 2026. While ITR-4 simplifies the p...
- EPFO rules for NRIs’ EPF withdrawal: Do NRIs need to wait till 58 years of age to withdraw their employees’ provident fund retirement corpus?Non-resident Indians have the opportunity to access their Employees Provident Fund (EPF) corpus upon their departure from India. Those who ...
- If I sell my property jointly owned with my wife, can I buy the new one in my name for LTCG tax exemption?ET Wealth Reader's Query: I jointly own a property with my wife, although it was funded entirely by me. If I sell this property, is it nece...
- Retired? 7 types of income that are taxable for senior citizens; know the rules
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