January Coffee Club Discusses How Income Impacts Social Security Taxation and Medicare Premiums

For January’s Starks Coffee Club, our focus was on how your yearly income affects how much of your Social Security Retirement benefit is taxable.  We also explained what IRMAA is and how your Medicare Part B premium can go up a lot if your income increases.

Take a listen to the replay below to be more informed as tax season approaches and to help you understand what you may be able to do if you get blind-sided by a hike in your Medicare premiums.

While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation or advice. Any opinions are those of the speaker and not necessarily those of Raymond James.

Examples used are hypotheticals for illustration purposes only. Results and strategies will vary.