For higher income retirees, Medicare adds a surcharge to your Part B and Part D premiums, called IRMAA, or the Income Related Monthly Adjustment Amount. The extra charge is... Read More
Our income tax rules are complex, and one of the key items on your tax return is a set of figures called Adjusted Gross Income, often called AGI, or... Read More
When should you withdrawal money from a Roth account in retirement? Roth IRAs or Roth 401(k)s are great long term retirement accounts to have. The money in these accounts... Read More
In March of 2022, new Iowa tax reform was signed into law that will do away with Iowa’s complex income tax brackets and apply a flat tax. In addition... Read More
For most retirees, you won’t need to pay estimated income taxes. That’s one less thing to do each quarter! However, there are a few circumstances when paying estimated taxes... Read More
A QLAC, or a Qualified Longevity Annuity Contract, is a unique type of deferred income annuity that is popular for those looking to reduce their RMDs early on in... Read More
What are Iowa's income tax rates and what can you do to keep your state taxes in check? Read More
As tax rates have declined, more and more baby boomers retire, and 401k balances have risen, many are taking the opportunity to convert their 401k and IRAs into Roths... Read More
If you have appreciated investments in a brokerage account, whether it be mutual funds, ETFs, or a concentrated individual stock position, you should know about an opportunity that exists... Read More
Understanding the type of income that counts towards the IRMAA calculation is important, because avoiding IRMAA can save you hundreds of dollars per month on each spouse’s monthly Medicare... Read More
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