Many people planning to retire use the presence or absence of a state income tax as a litmus test for a retirement destination. This is a serious miscalculation since higher sales and property taxes can more than offset the lack of a state income tax. The lack of a state income tax doesn't necessarily ensure a low total tax burden. Following are the taxes you can expect to pay if you retire in Minnesota: Sales Taxes
If you are already receiving disability benefits through the Veterans Administration (VA) you may also be eligible to receive Social Security Disability Insurance (SSDI) from the Social Security Administration (SSA). SSDI is administered by the SSA to provide monthly benefits for disabled workers. To receive SSDI, you must have worked enough to earn sufficient credits and to have paid in adequate taxes to the SSA. In general, that means you must have worked the equivalent of five years full-time out of the last 10 years, but that can vary depending on age.
For veterans and active duty members of the military who return home with injuries, Social Security is a resource they can turn to. If you know any wounded veterans, please let them know about Social Security's Wounded Warriors website at www.socialsecurity.gov/woundedwarriors .
The most frequently asked VA loan question is about repeat use of VA loan benefits. It's true: VA loan benefits can be used again and again, provided that you meet the qualifications for reuse. Here is a closer look at three common scenarios may help some veterans get another VA loan. Does one of these apply to you regarding your previous VA loan?
This checklist is designed to provide Veterans/retirees and their loved ones with some help in preparing for the future. The checklist is not all-inclusive and should be used with other estate planning tools. 1. Create a military file. • Retirement orders • DD 214 • Separation papers • Medical records 2. Create a military retired pay file. • Claim number of any pending VA claims • Address of the VA office being used • List of current deductions from benefits
Members of the guard and reserve components who have served honorably for at least 20 years are now recognized as veterans. On Friday, Dec.16, President Obama signed the Jeff Miller and Richard Blumenthal Veterans Health Care and Benefits Improvement Act of 2016 into law. The legislation included a bipartisan Walz provision to extend the legal definition of "veteran" to guard and reserve members who served as least 20 years but have not been called up for federal active duty.
The Department of Veterans Affairs (VA) is amending its regulation on copayments for veterans' outpatient medications for non-service connected conditions. VA currently charges non-exempt veterans either $8 or $9 for each 30-day or less supply of outpatient medication, and under current regulations, a calculation based on the medication of the Medical Consumer Price Index (CPI-P) would be used to determine the copayment amount in future years.
Do you find yourself constantly increasing the volume on the TV? While eating in a noisy restaurant, do you struggle to keep up with your dining companions' conversations? Lately, does everyone seem to be mumbling? If your answer is "yes" to any of these questions, chances are, you need a hearing aid. More than 37 million American adults have some trouble hearing. Men are more likely than women to be affected, according to the National Institutes of Health. And veterans are 30 percent more likely to have severe hearing loss than those who haven't served,
Monthly VA compensation, pension, social security and supplemental security income (SSI) benefits for Americans will increase 0.3 percent in 2017, the Department of Veterans Affairs and the Social Security Administration announced.
When was the last time you logged on to myPay? Some retirees only use myPay once a year to get their 1099-R during tax season. Then they try to access their account and discover that their password is expired, lost or forgotten. If you are in this category, be proactive this year to avoid delays with getting your tax forms.