Tag: Medicare Premiums
Five Hidden Retirement Taxes That Can Cost You More Than You Expect (Ep. 46)

Five Hidden Retirement Taxes That Can Cost You More Than You Expect (Ep. 46)

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Have you ever wondered why your taxes or Medicare costs seem to increase even when tax rates haven’t changed? 

Small planning decisions can have a much bigger financial impact than many retirees realize.

In this episode, Jim Kruzan, CFP®, CRPC®, explains five often overlooked tax rules that can quietly increase retirement costs over time. He breaks down Medicare premium surcharges, Social Security taxation, payroll taxes, home sale capital gains, and the hidden impact of income thresholds that haven’t kept pace with inflation. 

Jim also shares practical planning ideas to help retirees and pre-retirees make more informed decisions about Medicare, withdrawals, income, and taxes before unexpected costs arise.

Key takeaways:

  • How Medicare premium surcharges increase as income crosses fixed thresholds that haven’t changed with inflation
  • Why surviving spouses often face higher Medicare costs because filing thresholds change after a spouse passes away
  • How selling a highly appreciated home can create unexpected capital gains even after available exclusions apply
  • Why Roth conversions, retirement withdrawals, and investment income should be coordinated before year-end
  • How proactive tax planning can help reduce avoidable costs without changing your long-term retirement goals
  • And more!

Continue Your Retirement Planning

Curious how these retirement tax rules could affect your own financial plan?

Watch our free, 20-minute Engineering Your Best Retirement webinar to learn about the key decisions that can impact your retirement. You’ll also discover how our personalized Retirement Readiness Report helps individuals evaluate their retirement readiness and learn how to request yours for free.

Register for the Webinar / Watch On Demand

Connect with Jim Kruzan: 

Disclosure: This article is provided for informational purposes only and should not be considered tax, legal, or accounting advice. Tax laws are subject to change, and individual circumstances vary. Please consult your tax professional or other qualified advisor regarding your specific situation. 

Sources: 

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Navigating the Waters of Required Minimum Distributions (RMDs) with Dylan Stewart (Ep. 24)

Navigating the Waters of Required Minimum Distributions (RMDs) with Dylan Stewart (Ep. 24)

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Need clarity around required minimum distributions (RMDs) and their impact on your retirement cash flow?

This week, Jim Kruzan, CFP®, CRPC®, is joined by Dylan Stewart, CFP®, CPA, Wealth Advisor at Kaydan Wealth Management, to unpack the intricacies of RMDs and their critical role in retirement planning.

Learn about the mechanics, tax planning aspects, long-term financial strategies, and implications of RMDs and how they can influence your financial landscape. 

Whether you’re approaching retirement or are already navigating your golden years, this conversation is packed with knowledge to steer you clear of making common mistakes!

Jim and Dylan discuss: 

  • What are RMDs, and who do they impact
  • Common problems or mistakes people make with RMDs
  • Strategies for managing RMDs to alleviate potential tax burdens
  • The impact of RMDs on Social Security and Medicare premiums
  • The mechanics of calculating RMDs and how it can change over time
  • Innovative ways to utilize RMDs for charitable giving, education funding, or as a strategic legacy plan
  • And more!

Resources:

Connect with Jim Kruzan: 

Connect with Dylan Stewart:

About our Guest: 

Dylan Stewart, CFP®, CPA, serves as a Wealth Advisor at Kaydan Wealth Management, offering comprehensive wealth management and guiding clients through the Evolutionary Wealth Process. As a member of the Investment Policy Committee and collaborator with Senior Wealth Advisors, he plays a pivotal role in shaping and maintaining client financial strategies.

“I love helping clients feel safe and secure by helping them achieve their financial goals and dreams.”

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