Jalynn West financial Convenience at Its Finest: Hiring a Mobile Mechanic

Convenience at Its Finest: Hiring a Mobile Mechanic

September 22, 2024September 22, 2024| Lucille WebbLucille Webb| 0 Comments| 12:00 am
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The Convenient Solution: Mobile Mechanics

Ever had one of those unwanted surprises that your car wouldn’t start, or you’ve got a brake failure, or some other issue that leaves you stranded somewhere? Well, who hasn’t! It’s pretty frustrating, isn’t it?

Enter the Mobile Mechanic

Now, ponder this for a second; wouldn’t it be really awesome if the help could come right to you? Guess what! It can, thanks to a new breed of mobile auto mechanic. Yes, you heard it right! We are talking about certified mechanics who come to your location to fix your Vehicle on the spot. Wouldn’t you agree that these ‘knights of the wrench’, as I like to call them, are a pretty nifty solution?

Why Choose a Mobile Mechanic?

Why, you ask? Well, it’s simple! A mobile mechanic saves you precious time, reduces stress, and offers competitive pricing. They’ll show up at your home, office, or even along the highway shoulder, rolling up their sleeves to breathe life back into your ride, as soon as humanly possible. The beauty of it – you can carry on with your life while your car gets the treatment it needs. Makes sense, doesn’t it?

What Does a Mobile Auto Mechanic Do?

To put it plainly, a mobile auto mechanic is a full-service garage that fits in a van. Think of them as your personal auto doctor carrying a first-aid kit, equipped with most of the tools and equipment an ordinary garage has, and backed up by years of experience and expertise. From regular maintenance and minor repairs, to diagnosis and fixes of complex issues, these roving mechanics handle almost everything. They are your ‘go-to’ solution when an unplanned visit to the auto repair shop cannot fit in your tight schedule.

Are Mobile Mechanics Reliable?

I know, I know… it’s a valid concern. And, yes, there might be naysayers floating myths about the reliability of this handy service. But let’s debunk these right away. First off, not all mobile mechanics are created equal. Some are highly professional, licensed, and dependable. They offer warranties on their work, incase you had doubts. It’s just about finding a mobile mechanic who has good reviews and a solid reputation. At the end of the day, aren’t these the same Things we want in all the Services we pay for?

So, here’s to hoping your car stays trouble-free. But just in case it doesn’t, remember, you are not stuck! You have the option of a mobile mechanic. It could be your stress-free solution in a chaotic world of disrupted plans and tight schedules. It’s not just a service, it’s a revolution in auto-repair, wouldn’t you agree?

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Navigating the OASDI Limit 2023: What You NeedNavigating the OASDI Limit 2023: What You Need

May 30, 2024May 30, 2024| Sarah MolinaSarah Molina| 0 Comment| 12:00 am

Ever wondered why some numbers in finance seem to shift every year? The OASDI limit for 2023 is one such figure that’s crucial yet often misunderstood. For those scratching their heads, OASDI stands for Old-Age, Survivors, and Disability insurance – essentially Social Security. This year brings a fresh twist you’ll definitely want to get cozy with.

The OASDI limit marks the ceiling of your earnings taxed for Social Security purposes. Understanding this number is more than just ticking a box for the sake of it; it’s about smartly mapping out your financial journey ahead. In the same way you manage your credit cards to optimize credit health, understanding the OASDI limit helps optimize your financial health.

Understanding the Social Security Tax Limit 2023

The limit on Social Security tax isn’t something to shrug off. It’s the maximum amount of your earnings that are subject to the Social Security tax each year.

That limit is $160,200. A nice chunk of change, right?

What Is the Social Security Tax Limit?

Let’s break it down. If your earnings hit that $160,200 cap, you’ll pay a maximum of $9,932.40 in Social Security taxes for the year. Your employer will kick in the same amount, for a total of $19,864.80 paid into the system on your behalf.

But if you’re self-employed, you’re on the hook for the whole enchilada – 12.4% of your earnings up to that $160,200 limit. The silver lining? You get to deduct half of that amount on your tax return. Every cloud, my friend. This is akin to how wisely managing your credit can lead to significant savings over time.

Now, let’s say you’re an overachiever and earn more than $160,200. Congrats. But here’s the thing: you don’t pay Social Security taxes on anything over that amount. It’s like hitting the jackpot, tax-wise.

How the Increase Affects Payroll Taxes

So, how does this compare to last year? In 2022, the Social Security tax limit was $147,000. That means the limit jumped by $13,200 for 2023. Not too shabby.

But wait, there’s more. If you’re a high earner, you could pay up to $818 more in Social Security taxes this year compared to 2022. It’s all thanks to that increase in the wage base limit.

So, what does this mean for your paycheck? If you earn $160,200 or more, you’ll see 6.2% taken out for Social Security taxes until you hit that magic number. Then, poof. No more Social Security tax withholdings for the rest of the year. It’s like a little bonus, right? Much like how responsibly using credit cards for monthly expenses can help manage cash flow effectively.

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Proposed Cuts to SocialProposed Cuts to Social

June 25, 2024June 25, 2024| Linda SmithLinda Smith| 0 Comment| 12:00 am

You may have heard by now that there are proposed cuts to Social Security and are not sure if this true or not, well, unfortunately, it is actually true.

Social Security is in trouble.

Before diving into the who’s and what’s of these proposed cuts to Social Security it must be stated that something Needs to be done really soon as the program is in big trouble on paper.

Since 2018 the part of the Social Security program that provides retirement benefits (OASI) is and will be running at a loss each and every year.

This means that the amount of benefits that the OASI is providing to retirees is greater than the amount of money that the program brings in.

To provide some clarity on this huuuuge problem:

In 2018, according to the Trustees of Social Security:

  • The total cost to provide benefits within the OASI program = $853.4 million.
  • Total revenue for that year = $831.0 million.

There is an obvious shortfall of $22 million and the problem is not getting better, in fact the gap between benefits verse revenue is widening.

By 2022, according to the Trustees, the problem became:

  • The total cost to provide benefits within the OASI program =. $1,097.5 billion
  • Total revenue for the year = $1,056.7 billion.

The shortfall grew to $40.8 million in just 4 years and, again, the problem is growing larger annually.

The Trustees of Social Security, in its 2023 Annual Report, is reporting that:

  1. The costs to run the program are going to inflate by over 6.40%
  2. The revenue to provide benefits is only going to grow by 4.90%.

At these rates by 2032 the shortfall for the OASI part of Social Security will be $428.3 billion!

This is why the media is reporting that by 2032 the Social Security program may become insolvent.

Is Social Security really going broke?

What are the current proposed cuts to Social Security?

The Social Security Administration has 9 proposals for cuts to the program which all begin by the end of 2024 and they are:

1st Proposal: Reduce the annual COLA by 1 percentage point.

  • This option will decrease Social Security benefits for retirees.

2nd Proposal: Reduce the annual COLA by 0.5 percentage point.

  • Like option #1, this proposal will decrease Social Security benefits for retirees. The only difference is the decrease will be half of Option #1.

3rd Proposal: Compute the COLA using a chained version of the consumer price index for wage and salary workers (CPI-W).

  • The Social Security cost of living adjustment (COLA) uses the 3rd Quarter monthly averages of the Consumer Price Index for Workers (CPI-W).
  • Social Security takes the averages of these 3 months in the 3rd Quarter and compares them to the previous year’s 3rd Quarter.
  • If the average is greater than the previous year, then there will be a COLA for those receiving benefits.
  • Chained Weighted CPI-W is a more accurate average where certain averages are disregarded if they are not in the norm.
  • This proposal will decrease benefits going forward.

4th Proposal: Compute the COLA using a chained version of the consumer price index for wage and salary workers (CPI-W) but start it in 2026 instead of 2024.

  • This proposal will decrease Social Security benefits for retirees, but will start 2 years later.

5th Proposal: Add 1 percentage point to the annual COLA for beneficiaries who have lived past a “specified age”.

  • It appears that only certain retirees who are a certain age and older will receive a COLA going forward.
  • This proposal may lower benefits across the board for retirees, but the good news, those retirees who reach the specific age may receive a COLA that would be higher than before.

6th Proposal: Compute the COLA using the Consumer Price Index for the Elderly (CPI-E).

  • The CPI-E tracks the expenses specifically for Americans who are 62 years of age or older.
  • Historically this Index is much lower than what the Social Security Administration uses and may lead to lower Social Security benefits for retirees.
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