Home RECENT RADIO SHOWS Medicare Lesson: IRMAA

Medicare Lesson: IRMAA

IRMAA, or Income Related Monthly Adjustment Amount, is a Medicare tax on the wealthy.  IRMAA is a surcharge on Part B and Part D. It is based on your income from your tax returns 2 years prior, so in 2020 that is 2018’s tax return. Hans talks about clients he has had, that are normally surprised and angry about the charge. While some clients income has changed dramatically in 2 years, and therefore are able to appeal the charges, others just have a significant income in retirement. If that is the case, while it does not make sense to do your financial planning totally based on reducing IRMAA, there are smart strategies you can put into place to reduce your taxable income in retirement. Hans and Robby explore all those options! 

Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Finishing Well
Finishing Wellhttps://www.cardinalguide.com/finishing-well/
Retirement planning involves a lot more than just managing your money. This show is the complete guide to planning for and living in retirement, helping families finish well. Host Hans Scheil will discuss a new topic every week ranging from Social Security and Medicare to IRAs and taxes. Follow along each week by downloading the corresponding chapters below for free! New episodes air: Finishing Well Schedule on Truth Network
- Advertisment -

Recent Posts

Forgive One Another

To support this ministry financially, visit: https://www.oneplace.com/donate/222/29 It’s easy to talk about forgiveness when someone does something to annoy or insult you. But when you’re...

Bible Wonders -7 Names Of God Part 5

Bible Wonders wih The Christian Car Guy

Warning against Adultery (Part 2 of 2)

While sin may appear attractive, it comes at a high cost. The book of Proverbs cautions against falling prey to its allure. So how can we stay faithful to God and committed in marriage? Find out when you join us on Truth For Life with Alistair Begg. List

How to Know the Will of God: His Plan for Us Is Better Than Our Own

Many late-model GPS systems display live, real-time traffic information. It can show you what roads to avoid. God wants to do that for our...

Jesus Loves Addicts – Part A

Jesus loves people—all people:prostitutes, drug addicts, abusers—and you. This profound truth is at the very heart of the gospel. Jesus loves the unlovable and touches the untouchable, and during His time on earth, He was compassionate and merciful toward people from all walks of life. What would it be like if you personally encountered Him? Join Pastor Skip Heitzig in this series to learn more about God's radical love for you and fall more in love with the living Savior.

We Will Not Be Silenced Interview Part 4

As radical Islam partners with the radical left in America, the net effect is the ultimate destruction of all we hold dear. These are perilous times, and we must be determined to not be silenced. Will wecompromiseorconfront this problem

End of History and You, P04

End of History and You, P04

Christ Magnified II – Part 1 of 2

“According to my earnest expectation and my hope, that in nothing I shall be ashamed, but that with all boldness, as always, so now also Christ shall be magnified in my body, whether it be by life, or by death” (Philippians 1:20).
%d bloggers like this: