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Liz Weston: 3 ways to reduce taxes on social security

Published Fri, 15 Nov 2024 07:48:51 GMT

Social Security benefits were once tax-free. That changed in 1983, when Congress decided to tax a portion of benefits for the highest-income recipients.Back then, fewer than 10% of beneficiaries were affected. Lawmakers failed to update the law to account for inflation, however, so today most Social Security beneficiaries have to pay federal income tax on at least some of their benefits, says Ted Sarenski, author of American Institute of CPA’s “Guide to Social Security Planning.”There are a few ways to reduce that tax bite, however, especially if you can plan ahead.HOW SOCIAL SECURITY TAXES WORKSocial Security taxes are based on your annual “combined income.” Combined income comprises:●Your adjusted gross income, which includes your earnings, investment income, retirement plan withdrawals and other taxable income.●Any nontaxable interest you receive, such as interest on municipal bonds.●One half of your Social Security benefits.For couples filing a joint return, a combined income be...

Community meeting scheduled on plan to house migrants at Greektown hostel

Published Fri, 15 Nov 2024 07:48:51 GMT

CHICAGO — A community meeting is expected this week regarding Chicago's plan to temporarily house migrants at a hostel in the city’s Greektown neighborhood.Bill Conway, the alderman in the city’s 34th Ward alderman, says people who are seeking asylum will be moved into the Parthenon Guest House Friday.The community meeting is Wednesday at the Merit School of Music.In a letter to his ward, Conway said representatives from the police department, the Department of Family and Support Services, and the mayor’s office will be in attendance at the meeting.“Though this is not my choice and I’m disappointed at the short notice of this plan, I understand our responsibility as a welcoming city to work together given the present situation,” the letter stated.Conway told the Chicago Sun-Times up to 190 migrants are expected to stay at the shelter through next June with the possibility of an extension.The hostel has been used to house migrants before.

2 dogs presumed dead in house fire in eastern Travis County

Published Fri, 15 Nov 2024 07:48:51 GMT

AUSTIN (KXAN) — Two dogs were presumed to have died in a house fire in eastern Travis County early Monday morning, according to the Austin Fire Department. The fire was reported at 12:08 a.m. Firefighters from Austin Fire and Travis County Fire Rescue worked the fire on Dalton Lane, AFD posted at 1 a.m. The area is east of Highway 183 and north of State Highway 71. When crews arrived, the structure was on fire, Austin Fire said, and fire had spread to the grass and a surrounding vehicle. Fire destroys home in eastern Travis County early Monday morning. (Photo courtesy: Austin Fire Department)AFD posted at 2:23 a.m. that the fire was out. "All occupants accounted for safe however 2 dogs are presumed deceased", AFD said. Over the holiday weekend, Austin Fire responded to another house fire where two dogs also died.Two vehicles and a home that burned in Monday's fire are considered a total loss, according to the department. The cause of the fire is still under investigation.

A comprehensive guide to Ken Paxton's impeachment trial

Published Fri, 15 Nov 2024 07:48:51 GMT

Editor's Note: The above video explains the Ken Paxton impeachment trial rules.AUSTIN (Nexstar) — The historic impeachment trial of suspended Texas Attorney General Ken Paxton begins at the Texas Capitol Tuesday morning. Here is a comprehensive breakdown of what you need to know and how we got here.How will the impeachment trial work?When the House of Representatives voted to impeach Paxton, they adopted 20 articles of impeachment. Senators will vote on 16 of those 20 articles of impeachment when the trial begins Tuesday at 9 a.m. in the Senate chamber. READ MORE: What do the 20 Articles of Impeachment against Ken Paxton mean? The trial will be held publicly, beginning with votes on pre-trial motions. Paxton’s attorneys have requested the Senate dismiss all of the articles of impeachment. If Lt. Governor Dan Patrick — presiding officer of the trial — decides to grant that motion, senators will vote on whether to dismiss individual articles. A majority of senators would have to agr...

Robotics students get boost following $2.3M grant from Texas Workforce Commission

Published Fri, 15 Nov 2024 07:48:51 GMT

AUSTIN (KXAN) - A new multi-million dollar grant is giving Science, Technology, Engineering and Mathematics (STEM) students across the state a little extra help this year. The Texas Workforce Commission recently gave $2.5 million in grants to various STEM programs in Texas."It's probably been the largest amount we've given out," said Albert Trevino III, Commissioner Representing Labor for the Texas Workforce Commission.The money goes to programs like FIRST in Texas, a UIL robotics competition for pre-kindergarten through high school students. The program received $700,000 as part of the grant. This is the eighth year they have been given money by the TWC."This funding is very instrumental in making sure that we have a level playing field in our robotics program as far as those underserved teams versus our affluent teams," FIRST in Texas' Executive Director Jason Arms said."It's a win-win for the state," Trevino said. "The students are getting to learn this high-in-demand field and t...

Crews responding to house fire in Cahokia Heights, Illinois

Published Fri, 15 Nov 2024 07:48:51 GMT

CAHOKIA HEIGHTS, Ill. - Emergency crews are at the scene of a house fire in Cahokia Heights early Monday morning.Our Nissan Rogue Runner reporter, Nic Lopez, was at the scene, located on Delores Drive, where half of a single-family home was seen in flames. The occupants of the home weren't there at the start of the fire but responded right after the firefighters. Call for Help closure has East St. Louis mothers crying for aid The occupants of the home also had a dog on scene that did not survive. There are no further injuries. The cause of the fire is still unknown. FOX 2 will update this story with more information as it becomes available.

Labor Day events continuing today across bi-state area

Published Fri, 15 Nov 2024 07:48:51 GMT

ST. LOUIS - If you and your family are looking for something to do this Labor Day, there are still a lot of events going on across the bi-state.Events for the Gateway Cup start back up at 10:00 a.m. They go all through the afternoon. It'll be a demanding course for those cyclists, but people 21 and older watching can probably grab a beer because this isn't far from several notable breweries, including the Lemp Brewery. It's also not far from the Anheuser-Busch campus.The Japanese Festival is back at the Missouri Botanical Garden for its 46th year. The celebration runs from 9:00 a.m. to 5:00 p.m. You can expect your favorite exhibits to return as well as some new features. It's one of the largest and longest-running festivals of its kind in the U.S."Everyone loves the martial arts demonstrations," Missouri Botanical Garden's Catherine Martin said. "Sumo wrestling's a favorite for everybody. We'll have a magician this year who's new."The 106th annual St. Louis Greek Festival is also h...

Hot and humid Labor Day Monday, chances for spot storms through week

Published Fri, 15 Nov 2024 07:48:51 GMT

St. Louis weather from Meteorologist Angela Hutti:ST. LOUIS - Happy Labor Day! It's going to be hot and humid on Monday and Tuesday. Highs will be in the low 90s and heat index values will be near 100. Let’s watch for the chance of scattered thunderstorms both Monday and Tuesday. St. Louis radar: See a map of current weather here The heat starts to dial back Wednesday as a cold front moves through. Expect highs near 90 with a chance of scattered showers and storms. The rest of the week will see highs in the mid-80s with lower humidity. 

Overnight car fire in north St. Louis

Published Fri, 15 Nov 2024 07:48:51 GMT

ST. LOUIS - A car caught fire around midnight in north St. Louis.This happened just half a mile from a fatal crash on Page and Goodfellow Boulevards. You Paid For It: How Hazelwood got out of the financial hole The fire was on Dr. Martin Luther King Drive and Clara Avenue. No injuries were reported. The cause of the fire is still unknown. FOX 2 will update this story with more information as it becomes available.

Police investigating fatal overnight crash in north St. Louis

Published Fri, 15 Nov 2024 07:48:51 GMT

ST. LOUIS - One person was killed in a crash overnight in north St. Louis.It happened around 12:15 a.m. on Page and Goodfellow Boulevards between the West End and Hamilton Heights neighborhoods. A second person was injured in the crash. You Paid For It: How Hazelwood got out of the financial hole Part of Page Boulevard was closed overnight as police investigated the crash. FOX 2 will update this story with more information as it becomes available.