Death, Medicare & Taxes

Death and taxes, right?

Check with a tax professional first, but I was blown away that some of you all can take write offs for:

1. Medicare Part B, Med Supps, and Part D premiums if you are self-employed, that’s huge!
2. If you or your spouse are still working, check out if you can still contribute to retirement.
3. Snowbirds can consider switching the primary residence to avoid state taxes.
4. Look at gift giving, charitable deductions and total medical expenses (if the exceed 7.5% of your AGI.)

Here’s a great article from Kiplinger with that information.

And if you have questions about Medicare Insurance, book a time on my calendar here.