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Daily Deals
The conversation between Wendy Green and Phyllis Jo Kubey delves deep into the often-overlooked complexities of tax management for retirees. Kubey, with her extensive background in tax preparation and planning, illuminates the intricacies of how retirement income is taxed and the common pitfalls retirees face.
One surprising revelation is that up to 85% of Social Security benefits can be taxable, a point that many retirees may not anticipate. Kubey explains the thresholds that trigger taxation on Social Security and emphasizes the need for careful planning to manage adjusted gross income, which can affect various tax benefits and deductions.
The episode not only addresses the technical aspects of tax management but also encourages listeners to adopt proactive strategies, such as systematically converting traditional IRAs to Roth IRAs, to optimize their tax situations in retirement.
By weaving personal anecdotes and practical tips throughout the discussion, the episode provides a comprehensive framework for listeners to approach their retirement finances with confidence.
States that tax SSA benefits - https://www.nerdwallet.com/article/investing/social-security/which-states-tax-social-security-benefits
Social Security Guru - https://marybethfranklin.com/
Schwab article on QCDs - https://www.schwab.com/learn/story/reducing-rmds-with-qcds
IRMAA for 2025 - https://www.cms.gov/newsroom/fact-sheets/2025-medicare-parts-b-premiums-and-deductibles
Journal of Accounting article on HSA strategies https://www.journalofaccountancy.com/news/2023/jan/9-facts-hsa-that-might-surprise-your-clients.html
IRMAA appeal article - https://www.ncoa.org/article/how-to-request-an-adjustment-to-your-irmaa-medicare-premium/
IRMAA appeal SSA webpage - https://www.ssa.gov/medicare/lower-irmaa
217 епізодів
The conversation between Wendy Green and Phyllis Jo Kubey delves deep into the often-overlooked complexities of tax management for retirees. Kubey, with her extensive background in tax preparation and planning, illuminates the intricacies of how retirement income is taxed and the common pitfalls retirees face.
One surprising revelation is that up to 85% of Social Security benefits can be taxable, a point that many retirees may not anticipate. Kubey explains the thresholds that trigger taxation on Social Security and emphasizes the need for careful planning to manage adjusted gross income, which can affect various tax benefits and deductions.
The episode not only addresses the technical aspects of tax management but also encourages listeners to adopt proactive strategies, such as systematically converting traditional IRAs to Roth IRAs, to optimize their tax situations in retirement.
By weaving personal anecdotes and practical tips throughout the discussion, the episode provides a comprehensive framework for listeners to approach their retirement finances with confidence.
States that tax SSA benefits - https://www.nerdwallet.com/article/investing/social-security/which-states-tax-social-security-benefits
Social Security Guru - https://marybethfranklin.com/
Schwab article on QCDs - https://www.schwab.com/learn/story/reducing-rmds-with-qcds
IRMAA for 2025 - https://www.cms.gov/newsroom/fact-sheets/2025-medicare-parts-b-premiums-and-deductibles
Journal of Accounting article on HSA strategies https://www.journalofaccountancy.com/news/2023/jan/9-facts-hsa-that-might-surprise-your-clients.html
IRMAA appeal article - https://www.ncoa.org/article/how-to-request-an-adjustment-to-your-irmaa-medicare-premium/
IRMAA appeal SSA webpage - https://www.ssa.gov/medicare/lower-irmaa
217 епізодів
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Daily Deals
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