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Offbeat 8 things retirees can get for almost nothing

17:30  11 october  2018
17:30  11 october  2018 Source:   moneytalksnews.com

Why retirees' tax rates may be higher than they expect

  Why retirees' tax rates may be higher than they expect You may retire, but the IRS won't.Though high-income retirees are looking forward to lower taxes once they've exited the workplace, they can still expect to pay stealth taxes in the form of Social Security income levies and higher Medicare premiums.

Please use a supported version for the best MSN experience. 8 Things Retirees Can Get for Almost Nothing . By Melissa Neiman of Money Talks News |. Even better, all that fun often can be had at a steep discount. There are many ways for seniors to get cheap — and even free — entertainment and

As time passes, you get a little wiser. After retiring , you have more free time to channel that wisdom into doing the things you enjoy. There are many ways for seniors to get cheap – and even free – entertainment and services. Some of these offers are available based on age or income, while others

a group of people in uniform: The Whittingtons, Don (left) and Bill (center) chat with actor/racer Paul Newman at Le Mans, 1979.© Bodini, Bodini, ASSOCIATED PRESS The Whittingtons, Don (left) and Bill (center) chat with actor/racer Paul Newman at Le Mans, 1979.

A former Indy car driver who served time in prison for his role in a marijuana smuggling operation is headed back behind bars for tax evasion.

Bill Whittington has been sentenced to 18 months in prison for filing a false tax return, the Department of Justice announced Tuesday.

From 2003 to 2010, Whittington failed to report $9.7 million in investment income generated through two offshore bank accounts in Liechtenstein, the Department of Justice said. The 68-year-old also underreported his income from a Colorado resort owned by his daughters. Whittington’s fraudulent conduct created a $1.8 million tax loss, the Department of Justice said.

This Retiree Trap Can Send Your Social Security Benefits to the IRS

  This Retiree Trap Can Send Your Social Security Benefits to the IRS Take a look before you do anything with your IRA or 401(k).One of the most common reasons why retirees end up having to pay income tax on a portion of their benefits involves how they handle their tax-favored retirement accounts, such as IRAs and 401(k) plans from former employers. Depending on what you do with IRAs and 401(k)s, a situation that would otherwise leave your Social Security benefits completely untaxed could turn into a costly alternative that requires substantially higher tax payments to the IRS.

But like everything else government related it can get a little complex. If you need a hand with Medicare, you can turn to the State Health Insurance Program or SHIP 10 Ways Retirees Can Live Comfortably with Fewer Funds. 5 Things You Need to Be Aware of Before Taking a Reverse Mortgage.

There are many things that seniors can enjoy for a smaller price than average. One of the perks of your golden years is taking advantage of cheap – and sometimes free, entertainment and services. Read on to find out 8 things that seniors can get for free or at a small cost.

Whittington paid about $1.8 million in restitution to the Internal Revenue Service as a condition of his plea agreement.

As a race driver, Whittington had modest success at the Indianapolis Motor Speedway. He drove in the Indianapolis 500 from 1980 to 1985, with his best finish 14th. But in sports car racing he and his teammate and brother, Don, fared much better. In 1979 they were part of a three-driver team that won the 24 Hours of Le Mans. Bill Whittington also raced in the Daytona 500, as well as in several airplane races.

Bill Whittington previously served four years in prison after pleading guilty in March 1986 for his part in a multimillion-dollar, Colombia-to-South Florida marijuana smuggling ring. Bill admitted to heading the organization, which the DEA said took in some $73 million. Don helped invest the profits in legitimate businesses.

Don was sentenced to 18 months in prison. Bill got 15 years, serving four.

Bill Whittington lives in Scottsdale, Arizona. Previously he lived in Pagosa Springs, Colorado, where his daughters, until recently, owned a resort hotel called the Springs Resort & Spa.

More on the Whittingtons, and others: That time Indy 500 drivers were pot smugglers

Contact Star reporter Will Higgins at 317 444-6043. Follow him on Twitter @WillRHiggins.

GE's 119-year-old dividend is on life support.
General Electric's 119-year-old dividend is a source of pride inside this once-dependable company. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); But GE is no longer reliable. The conglomerate's financial deterioration -- debt is high and earnings firepower is shrinking fast -- could force new GE boss Larry Culp to take an axe to the dividend. One of the only things that GE bulls and bears on Wall Street seem to agree on is that the dividend will get cut.

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