Fixing Social Security
Congress is starting to discuss potential fixes for Social Security. Senators Bernie Moreno and Elizabeth Warren are collectively proposing to eliminate the cap on Social Security payroll taxes (currently $184,500). Making this change without increasing benefits for those affected would push out the timeline of the trust fund solvency to 2058 according to the Social Security Reformer website. Any changes are likely going to need bipartisan support to clear the 60-vote threshold in the Senate. There are also many other adjustments that can be made to push out insolvency or solve it permanently, but the discussions need to start happening now.
IRS Promotes Tax Planning During National Payroll Week
The IRS reminded employees to check their withholdings against their expected tax liability during National Payroll Week, which was celebrated September 7-11. The IRS provides a calculator to assist taxpayers with this, but it can be overwhelming and confusing. If you are a client of ours, your advisor usually does this for you during the year as part of your tax planning.
Protect Your Heart by Taking the Stairs
A new study out of the UK suggests that taking the stairs is a simple yet effective way to combat cardiovascular disease. An analysis of more than 480,000 people found that people who regularly climb stairs are 39% less likely to die from cardiovascular disease and 24% less likely to die for any reason compared to people who don't take the stairs. Incorporating stair climbing into your routine may be one simple way to increase physical activity and support cardiovascular health.
Insurance
Last March we had a webinar on property and casualty insurance with USI which included a discussion on the benefits of water shut off valves. USI recently announced a new partnership with Moen where USI clients can get the Moen valve shut off device for only $499.00.
Taxes and financial planning are complex, but you don’t have to navigate them alone. A financial advisor can help you stay informed about tax law changes, optimize your savings and investments, and avoid costly mistakes. If you need tailored guidance, our team is here to help. Talk to an advisor or call (603) 589-8010 to integrate tax planning into your comprehensive financial strategy.
Disclaimer:
This material is provided for educational and informational purposes only and is not investment, tax, legal, or financial advice. It does not consider any individual’s investment objectives, strategies, tax situation, or time horizon, and it is not an offer to sell or a solicitation to buy any security. Financial aid rules, tax laws, and school policies change frequently and vary by institution; figures cited are as of October 2026. Investing in a 529 plan involves risk, including the possible loss of principal. Before investing, review the plan’s offering documents for its investment objectives, risks, fees, and expenses, and consider whether your home state offers tax benefits only for its own plan. Please review your personal situation with your tax and/or financial advisor before acting.
Views expressed are subject to change based on market and other conditions. Any projections, market outlooks, estimates, or other forward-looking views are based on assumptions, are not indicative of future performance, and actual results may differ materially. Information is obtained from third-party sources believed to be accurate, but Milestone makes no representation as to its accuracy, completeness, or timeliness and accepts no liability for decisions based on it. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal.
Milestone Financial Planning, LLC (“Milestone”) is a fee-only financial planning firm and registered investment advisor headquartered in Bedford, NH. Registration does not imply a certain level of skill or training. Milestone works with clients on an ongoing, long-term basis, providing financial planning, tax planning, retirement planning, and investment management services. Fees are based on assets under management and may include a financial planning fee. Milestone receives no commissions or referral fees and, as a fiduciary, is required to act in clients’ best interests. Advisory services are offered only where Milestone and its representatives are properly licensed or exempt from licensure. More information, including fees and principal risks, is available in Milestone’s Form ADV Part 2A. For help with your investments or financial planning, contact one of our fee-only advisors.
