Friday October 24, 2014

News

IRA and 401(k) Designated Beneficiary Options
IRA and 401(k) Designated Beneficiary Options
Each year, IRA and 401(k)s are subject to required minimum distributions (RMDs). Because the distributions start at just under 4%...
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Savvy Living - What to Consider When Choosing a Walk-in Bathtub
What to Consider When Choosing a Walk-in Bathtub
I’m interested in getting a walk-in bathtub for my mother that’s easy for her to get into and out of, but...
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Washington News - U.S. Tax Receipts Up 8.9%
U.S. Tax Receipts Up 8.9%
For the 2014 fiscal year that concluded on September 30, U.S. tax revenue grew by 8.9% to $3.02 trillion. This was $247 billion more in tax revenue than the federal government received in 2013. With spending growth of 1% and an 8.9% increase in tax revenue, the deficit declined to $483 billion. The 2014 deficit was 2.8% of gross domestic product (GDP). Federal revenue grew from 16.7% of the economy in 2013 to 17.5% by 2014. However, even with a lower deficit the national debt will increase to about $18 trillion by December of 2014. Treasury Secretary Jacob Lew explained that the reduced deficit was “due to a combination of higher receipts and stable...
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