Government Benefits

Below-the-line deductions, also known as itemized deductions, include any deduction reported under the line for AGI calculation on your tax return. Each tax season, you can choose whether to [...]

Before we get into above-the-line deductions, let us start with some helpful definitions: Deduction: another way of saying ‘subtract.’ In the context of a federal tax return, a deduction is an [...]

On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act (“the Act”) with a bipartisan vote of 414 to 5. The Act has been nick-named the “Secure Act 2.0” as it [...]

An older RMD age will allow IRA owners to defer withdrawals, allowing assets to continue growing for longer. Removing the age limit for individuals to contribute to their IRA accounts benefits [...]

Important changes in the SECURE Act include: The required minimum distribution age (“RMD”) increased from 70.5 to 72 years old. Removal of the age limit for IRA contributions. The [...]

The “SECURE” Act stands for ‘The Setting Every Community Up for Retirement Enhancement Act’ and was signed into law by former President Donald Trump on December 20, 2019. The law [...]

Statewide Medicaid Managed Care (SMMC) is the program where most Medicaid recipients receive their Medicaid services. There are two different parts that make up the SMMC program: The Managed [...]

In 2011, the Florida Legislature created a new program called the Statewide Medicaid Managed Care (SMMC) program. There are two different programs that make up the Statewide Medicaid Managed [...]

In Florida, the Medicaid program that helps pay for long-term care in an assisted living facility or at home is called the Long-Term Care Diversion Waiver. There is a waitlist for this program. [...]

The recently enacted federal Coronavirus Aid, Relief, and Economic Security (CARES) Act provided for a direct payment of up to $1,200.00 to most taxpayers, including many residing in nursing [...]