IRMAA – The Ins and Outs of Determining if You Must Pay
Medicare premiums turn out to be a big expense and a big worry for many in retirement. In 2003, the Medicare Modernization Act — easily the largest overhaul of Medicare in its history — was…
The Gap Years – Tax Planning Opportunities in Retirement
We often refer to the years between retirement and when an individual turns 70 years old as the gap years in retirement. The point from which you stop earning employment income until you turn age…
Individual or Corporate? Choosing a Trustee
The estate planning process can be very emotional and is filled with lots of what-ifs and worst-case scenarios. One of the more important decisions in the process, and one that often does not get enough…
Qualified Charitable Distributions (QCDs) on Your Tax Return
We wrote a blog last year highlighting a charitable gifting strategy that became more attractive for many families under the new tax law. That strategy, known as Qualified Charitable Distributions (QCDs), allows you to make…
Medicare – When to Enroll?
For individuals approaching Medicare age, it is important to know that there are two main enrollment periods to sign up for Medicare: initial enrollment (at age 65) and special enrollment. Missing these enrollment periods could…
Three Reasons You Might Not Pay the AMT in 2018
With the first tax filing under the Tax Cuts and Job Act right around the corner, there are many changes taxpayers will be seeing in action for the first time. One thing you might not…
Five Year-End Financial Planning Strategies to Consider
It’s that time of year again when sweatshirts and winter jackets come out of storage. With the chaotic holiday season approaching, it’s easy to push aside any thoughts relating to financial planning, which is why…
Medicare Open Enrollment – A Time to Evaluate and Make Changes
The arrival of autumn brings about the changing leaves, pumpkins and cooler weather. It also brings about Medicare open enrollment. Open enrollment, which happens between October 15 and December 7, provides the opportunity for current…
Upstream Gifting
With the passage of the Tax Cuts and Jobs Act, the estate and gift tax exemptions were doubled from approximately $5.6 million to $11.2 million per person. With fewer individuals facing an estate tax issue,…
Realize Your Long-Term Capital Gains and Pay $0 Tax? See if this Applies to You!
Current tax law applies a 0% long-term capital gains rate to the extent long-term capital gains fall within the bottom two tax brackets. This can be a great planning opportunity, but it is important to…
