Government Rebates and Payments

2018 401k and 403b Plan Contribution Limits Could Drop Precipitously Under Trump-Republican Tax Reform

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401K and 403b limits have held steady or moderately increased over the last few years with more and more Americans using these tax advantaged employer sponsored vehicles to save for their retirement income. However this bastion of American retirement savings is under attack from Trump and GOP tax reform proposals. Basically to fund proposed tax […]

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I Like Donald Trump But Will Drop Him Like a Hot Potato if He Raises My Taxes

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The title of this article is from a reader (Barry P.) who had this comment on Trump’s proposed tax reforms: I live in Massachusetts and make $61,000.00 annually. I own a home and pay mortgage interest of around $12,000 dollars. My state income taxes and property taxes amount to another $8,000. So my itemized deduction […]

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Will I Still Have to Pay an Obamacare Health Insurance Penalty in 2017 or 2018?

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Will i still have to pay health insurance penalties (under the Obamacare individual mandate) in 2017 or 2018? This is the question a lot of Americans are asking under the House and Senate health care replacement bills. The short answer is NO. In fact both bills repeal the individual mandate outright and make it retroactive […]

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Do Republican Health Care Changes to Repeal Obamacare Impact You?

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The Senate has announced their health care plan –  the BETTER CARE RECONCILIATION ACT (BCRA) – which is in line with the house bill, with key changes being made to appease more moderate Republicans. NPR had a nice summary comparing Obamacare, AHCA (House bill) and BCRA (Senate bill) shown in the graphic below. In general the bill does […]

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2017 Federal Hiring Freeze That May Lead to 2018 Job Cuts and Federal GS Pay Freeze For Government Workers

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[Update March 2017] President Trump has continued his attack on the federal workforce by announcing across the board funding cuts in his latest budget proposal that could lead to between 100,000 and 200,000 job cuts. This is according to Mark Zandi, chief economist for Moody’s Analytics. This cut would constitute up to 9% of civil servant jobs. On […]

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2017 and 2018 Trump Economic Stimulus, Tax Breaks and Credits for Individuals, Corporations and Investors

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With Donald J. Trump now America’s 45th president many are now asking if he can bring around the economic change promised while on the campaign trail. A lot of people voted for him as a change agent and from an economic point of view at least are hoping he can bring back opportunity to millions […]

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ObamaCare (ACA) Repeal and Replacement via American Health Care Act (AHCA) ON HOLD for 2017 and 2018

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[Latest Update] The repeal and replacement of Obamacare via the American Health Care Act, the Ryan-Trump administration proposal, is officially on hold following a lack on unity across the Republican party to get the AHCA bill approved in the House. With no Democrat member support, it had to be passed by all the factions of the Republican […]

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2018 vs 2017 Cost of Living Adjustment (COLA), Social Security and Medicare Tax Rates

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[2018 COLA Increase] The Social Security Administration (SSA) has announced a relatively large 2% Cost of Living Adjustment (COLA) for 2018. Benefits like Social Security or Supplemental Security income, that are tied to COLA will reflect the 2% increase in January 2018. The increase is equivalent to about $27 more a month or $329 a year […]

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2017 Military Pay Charts Reflecting Latest Raise – Updated Monthly Basic Pay Tables

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[2017 update] Armed serviced members in 2017 will at minimum see a 2.1 percent increase in base pay following broad Congressional approval of the Defense Authorization bill. Both the House and Senate passed the bill that will be approved by the President. The 2017 raise is 0.5% higher than the original 1.6% approved by the House earlier in the […]

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2017 Pay Raise Approved for Federal Employees on GS Pay Scale

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In a surprising move President Obama has reversed his previous August 2016 pay rise proposal of 1.6%, made up of a 1% across the board plus 0.6% locality pay adjustment (see prior update below). In his latest executive order he is proposing a “revised” alternative 2017 total pay raise of 2.1%. This is still made up of a […]

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