The President’s Commission to Strengthen Social Security
calls for the establishment of “voluntary personal accounts” in which
workers would own their contributions and be able to pass them on to
heirs. The group has developed three model accounts and says any of
them would bolster Social Security’s financial stability and increase
benefits to participants. ( www.commtostrengthensocsec.gov/reports/Final_report.pdf
)
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Get your clients ready for tax seasonThese year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.
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