CE Credits: 1
Level of Complexity: Overview
Let’s define high-income taxpayers as those who will have to pay taxes on 85% of their social security benefits after they begin RMDs. Each time a married couple’s MAGI exceeds $170,000, $214,000, $267,000, or $320,000 by even $1 their joint annual Medicare premiums two years hence can increase by up to $2,424. The dollar amounts for singles are half these levels. These premium increases are essentially tax increases. This session will discuss what taxpayers can do both before and after age 70.5 to minimize the size of their future Medicare premiums.