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Social Security Announces 1.5% Increase in Benefits

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October 31st, 2013

On Wednesday, October 30, 2013, the Social Security Administration announced that benefits will rise by 1.5% beginning with January payment.  This represents a $22.50 monthly increase for a recipient receiving $1,500 per month.  This increase will apply to about 63 million Americans receiving benefits. The SSA also announced that the wage base will increase from $113,700 […]

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When It Pays to Increase Your Earnings

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March 10th, 2013

We get this question from farmers approaching retirement age a lot: “I have had very low income for most of my career and should I try to maximize my income as I approach retirement to increase my social security benefits” Chris Hesse, who is one of my partners at CliftonLarsonAllen, LLP had provided me with […]

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In-Kind Wages Can Be Better Than Cash

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May 26th, 2009

One of the great options open to farmers is to pay their employees in-kind wages.  In-kind wages are the payments of the crops that a farmer grows.  For example, a farmer could pay their employees either cash wages of $10,000 or 1,000 bushels of soybeans worth $10,000.  The reason that a farmer would want to […]

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Get a Do Over

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March 17th, 2009

Kiplinger magazine has an article on a great way to borrow money from the government on an interest-free basis and, then pay it back and start getting extra benefits.  This method applies to all people who apply for social security.  It allows them to start their benefits at age 62, collect and invest the money until age 70.  […]

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