We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations. Also, as a convenience to you and your clients, we have provided you with sample bequest language and our tax ID number should your clients want to include SPU in their estate plan.
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The Social Security Administration has announced a 5.9% increase in benefits for 2022. This is a dramatic change over the 1.3% increase for 2021. During the past decade, the increases have generally been less than 2%. Approximately 70 million Americans will receive the increased payment amounts in January of 2022. The increase is the result of substantial rises in the price of gasoline and other everyday purchases. With port congestion in Los Angeles and a limited number of trucks to deliver supplies, there are shortages of many goods and limited stock on store shelves. The shortages inevitably lead to higher prices. The large Social Security cost-of-living adjustment (COLA), is a direct result of inflation during 2021. Social Security COLA is linked to the Consumer Price Index (CPI) for urban workers. However, the CPI inflation adjustment used for Social Security is often less than the actual rate of inflation for healthcare costs, Medicare premiums and homeowners' insurance. With the new adjustment, the average $1,565 per month Social Security benefit for 2021 will increase to...
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GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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