Smith Dickson, An Accountancy Corporation 

May 2015

Do you think the majority of retirees want to live in downsized homes in warm-weather states?  A Merrill Lynch report, "Home in Retirement: More Freedom, New Choices", says otherwise.


Today's retirees have more freedom and options when choosing where and how they want to live in retirement. With the possibilities presented by unprecedented longevity, and often fewer work and family obligations than before retirement, according to the study two-thirds (65%) of retirees say they are living in the best home of their lives. However, retirees today also face challenges, and must consider how their needs may change throughout a 20-, 30-, or even 40-year retirement.


The report reveals the priorities, hopes, and worries of pre-retirees and retirees as they envision the type of home, community, and geography they wish to live in during their retirement years. The report uncovers:

* When people cross the "Freedom Threshold" and how retirement can be a gateway to unprecedented freedom when choosing where to live

* The "Downsize Surprise," and why many retirees don't opt for a smaller home

* Today's "Retirement HotSpots," and where tomorrow's retirees want to live

* How retirees often choose not to move, but instead are making their current home the best home of their lives

* The home and health challenges of later retirement and how retirees are increasingly empowered to age in place independent 



Tax season is supposed to be over April 15th, isn't it?  However, among certain groups, filing for an extension until October 15th is now routine.


In 2011, 11 million taxpayers filed for an extension.  In 2013, 13 million did so, an increase of almost 20 percent.  At the end of September 2014, more than 25% of those who had filed for an extension were still working on their filings.  Learn three reasons why ... and if you can do anything about it.



The growing number of blended families has led to financial agreements to help assure how parents' assets will eventually be apportioned among children who may be a mix of his, hers and theirs.


According to the U.S. Census Bureau, 16% of children under the age of 18 lived in blended families in 2009, the most recent data available. That was up one percentage point from 2001. Other couples who are getting married have adult children from one or more prior marriages.


Financial advisers say they are increasingly asked to draw up prenuptial agreements for second and third marriages that merge two or more households with multiple sets of children. This is part of a change in how prenups are being used (read the full WSJ article). 



Smith Dickson is pleased to provide our year-round "Tax Calendar" available on our website.  Reference it for key dates for individuals, businesses (of all types), employers and estates/fiduciaries.


For May and June, there is fortunately a respite from tax deadlines. Some of the important dates:

  • June 15: Corporations, LLCs, and individuals - estimated tax.  Deposit the second installment of estimated tax for the current year.
  •  May 15 and June 15: Employers - Deposit withholding.  If the monthly rule applies, deposit the tax for payments in previous month for Social Security, Medicare, withheld income tax, and non-payroll withholding.

Be sure to contact us to discuss your tax questions and needs. 






Smith Dickson is a full-service Southern California CPA firm that specializes in providing high-quality services designed to create long-term value for our clients. Our services include accounting, tax compliance and planning, litigation support, business consulting and estate/trust tax compliance. Please contact us with your questions.

Forward this email

This email was sent to by |  

Smith Dickson, An Accountancy Corporation | 18100 Von Karman Avenue | Suite 420 | Irvine | CA | 92612