Does the "Weinstein Tax" Punish the Plaintiff? IRS Fixes Problem, Congress Can't Seem to

The tax reform law passed in December 2017 prohibits tax deductions for hush money settlements in sexual harassment cases. As we’ve discussed before with tax attorney Rob Wood of Wood LLP in San Francisco...the so-called Weinstein tax makes it so individuals and companies cannot write off their settlement and legal fees, but the law apparently seems to also say that plaintiffs also cannot deduct their legal fees. Rob Wood explains how the IRS is fixing the problem.

The Best States to Retire in 2019

We told you the best countries to retire in for 2019, but now we’ll take a look at the best STATES to retire in for this year. In WalletHub’s annual report the nation’s 50 states are compared across 46 criteria, including affordability, healthcare and overall quality of life.

When it comes to the top five states from five to one…they are Virginia, New Hampshire, Colorado, South Dakota, with Florida taking the number one spot.

To find out how other states rank, click here.

Chemicals in the Home Linked to Reduced Male Fertility in Dogs and Humans

New research finds chemicals in the home are linked to reduced male fertility in dogs and humans. University of Nottingham researchers analyzed the effects of chemicals PCB153 and DEHP on male fertility in humans and dogs.

DEHP is a common plasticizer found in many household items, including shower curtains, garden hoses, shoes and swimming pool liners. PCB153, which is banned internationally, can still be detected in the environment.

The scientists say sperm motility in humans and dogs has declined by 30% over a 26-year period.

The 10 Commandments of Retirement

Americans are unprepared for retirement, you’ve heard. We tell you here on Retirement News Today all the time. But, that doesn’t mean you have to be like everyone else.

Here are the 10 commandments of retirement from MarketWatch writer Richard Quinn:

1) Set your preretirement style

2) Remember Social Security is only intended to be a minor part of your income. It is designed to replace no more than 40 percent of preretirement income.

3) Have a financial and estate plan in place.

4) Don’t forget the non-financial aspects of your retirement.  If you’re going to relocate plan for that and consider trying it out first.

5) Pay attention to retirement deadlines. Be aware of deadlines with Social Security, Medicare, personal advisers and others.

6) Make retirement savings a priority. Put retirement savings ahead of other goals that aren’t as important, like a vacation home.

7) Save as much as possible as soon as possible.

8) Taxes may not be lower during retirement. In the future, everyone will likely face higher taxes.

9) Place health care high on your list of fixed expenses. Medicare, prescription drugs and out-of-pocket expenses all add up.

10) Find ways to provide a steady income stream in retirement.

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