The New Holistic Retirement | Mid-American Wealth

THE NEW HOLISTIC RETIREMENT • 75 I$n1 1270, 01040, . Tt hhea t Smo ec ai anl t , Si fe cyuorui tmy atdaex a$b9l0e , 0 e0a0r, nyionug sp aci adpS owc iaasl St aexceusr iot yn ltya xoens tohne aflilros tf i$t ,1b1u7t, ,0i0f 0y .o Iun mt ha adte c$a1s2e 0, ,$030, 00 0, y0o wu opua li dd not be subject to Social Security tax. Things changed in 2015, however. The maximum taxable ee aa rr nn iendg s$ 1f o2r0 S, 0o0c 0i a li nS e2c 0u 1r i5t y, yi no cur enaos el od nt goe$r 1a1v8o, 5i d0e0d. St oa ,x ief sy oo nu $in3c,0om00e, sotnalyyinognt$h1e,5sa0m0.eY. ou paid more in taxes despite your If you don’t believe there are sneaky ways your taxes s e c u o v u c e c n ld e t s s g s i o f n u u l o p u ca , r t c c e o o r n m in s m g id b u e u r n s i o t i y n n . e e s os ,f sme ryv if cr ii ne ng dws ,e dMdai tnt gi es . aSnhde srpuencsi aal Several years ago at tax time, Mattie discovered she owed $i n1c, 2o m6 6e mt hoarne ti hn et apxr ee sv itohuasn ysehaer ,pal anndnsehde. kS hn ee wd i hd enr’ t t ha ax vber amc ok reet ha na dn no u’ tn ccehda nbgyeCdo. nTg hr eesrse. Shhaedw abse emno rneot h na ne wa l ittat lxe cionnc rf ue as es eds. Her accountant quickly cleared it up for her: In the Awfaf os rad ap br ol ev iCs ai or en At oc ti n( oc rt eh ae sr ew ti shee kt hn roews hn oal sd Of obra Smoacci aa lr eS)e, c ut hr ei trye toaf xheesr. Mi n ac totmi e en, oa wn do, wa cecdo rSdoicniga ll yS, ehceurrti at yx tbai xl lews aosn hai gl ahregre. r p a r t In the past decade , the federal government has raised tpaaxyerso l lo nt a xc ea sp, i taanl d g taai nx es s af no rd hdi gi vhiedre neda sr ,n eMr se. dTi chaarte’ s sj uusrtt aixn, recent years. These “stealth” taxes and the elimination of deductions cMaendiicmarpeacPtarytouB pinremotihuemr sareas, too. For example, your and additional surcharges are by oa sue dh ,a ivne pf ae rwt ,e or nd ei ndcuocmt i oe nf sr oamn dp rme vo iroeubs e yneeaf irtss. bI ef i ns ug dtdaexne ldy, your taxable income goes up—and so do your premiums and surcharges .

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