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IRMAA & Roth Conversions, Filing Separately, Lump Sum Withdrawals, Unexpected Income – Tax Planning Mailbag

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Manage episode 380262413 series 2891513
Conteúdo fornecido por Scott Sierens. Todo o conteúdo do podcast, incluindo episódios, gráficos e descrições de podcast, é carregado e fornecido diretamente por Scott Sierens ou por seu parceiro de plataforma de podcast. Se você acredita que alguém está usando seu trabalho protegido por direitos autorais sem sua permissão, siga o processo descrito aqui https://pt.player.fm/legal.

Today, we're diving into the listener mailbag once again, to answer your questions on tax planning and strategies for the year ahead. As we approach the end of the year, it's crucial to get your financial ducks in a row so that you can keep more of your hard-earned money. Scott offers valuable insights on whether to file taxes jointly or separately, how IRMAA can affect your Medicare premiums, tax surprises that can be caused by receiving unexpected income, and more.

Here are the questions we’ll tackle in today’s show:

  • Husband is 70, wife is 65- Is it okay to file separately so each one can do Roth Conversions before RMDs kick in?
  • How do you feel about taking a lump sum out of a 457B account? Is there any drawback to this besides taking a big sum of money? Will we owe any more taxes?
  • I received a big bonus this year. My company withholds for tax. I assume there is nothing else I need to do from a tax perspective?

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

Read more and get additional financial resources here: http://lifemoneyshow.com

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

  continue reading

154 episódios

Artwork
iconCompartilhar
 
Manage episode 380262413 series 2891513
Conteúdo fornecido por Scott Sierens. Todo o conteúdo do podcast, incluindo episódios, gráficos e descrições de podcast, é carregado e fornecido diretamente por Scott Sierens ou por seu parceiro de plataforma de podcast. Se você acredita que alguém está usando seu trabalho protegido por direitos autorais sem sua permissão, siga o processo descrito aqui https://pt.player.fm/legal.

Today, we're diving into the listener mailbag once again, to answer your questions on tax planning and strategies for the year ahead. As we approach the end of the year, it's crucial to get your financial ducks in a row so that you can keep more of your hard-earned money. Scott offers valuable insights on whether to file taxes jointly or separately, how IRMAA can affect your Medicare premiums, tax surprises that can be caused by receiving unexpected income, and more.

Here are the questions we’ll tackle in today’s show:

  • Husband is 70, wife is 65- Is it okay to file separately so each one can do Roth Conversions before RMDs kick in?
  • How do you feel about taking a lump sum out of a 457B account? Is there any drawback to this besides taking a big sum of money? Will we owe any more taxes?
  • I received a big bonus this year. My company withholds for tax. I assume there is nothing else I need to do from a tax perspective?

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

Read more and get additional financial resources here: http://lifemoneyshow.com

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ

  continue reading

154 episódios

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