Topics
Topic:
Wealth Management and Financial Advisors
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What You Need to Know About Medicare: Medicare Part A
Medicare Part A is the “hospital insurance” portion of Medicare. For most people who have paid Medicare taxes throughout their working life, there is no premium for Medicare Part A coverage. If you do not qualify for premium-free Medicare Part A, it can be purchased for $471 per month (as of 2021). If you do…
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Why do experts call my 401k a “qualified plan”?
The quick answer is: A qualified plan is an employer-sponsored retirement plan that qualifies for special tax treatment under Section 401(a) of the Internal Revenue Code. Now for some not too detailed details… There are many different types of qualified plans, but they all fall into two categories. (1) Defined benefit plans (like a traditional…
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Medicare Premiums for High-Income Earners
In 2021, some Medicare recipients will see their base premium increase due to two different laws that govern premiums. One law says that ordinary recipients can’t have their standard premium go up by more than the Social Security cost of living increase for that year. Since the cost of living increase in 2021 will be…
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My first big paycheck is finally in the bank – now what?
Recently I have been talking to clients’ kids or grandkids who have just graduated from college and are starting their first jobs as professionals. Some starting salaries can easily be in the low six figures depending on the profession, so a road map that covers how and where to start saving can be beneficial in…
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Understanding Estate Exemption Rules
At the beginning of 2013, Congress made the estate tax exemption permanent at $5 million per person, the 2012 rate, but adjusted the amount for inflation each year going forward. The Tax Cuts and Jobs Act of 2017 further increased the exemption to $10 million with adjustments for inflation until 2025. After 2025, the exemption…
