Medicare Premiums can easily double for widows if they're not careful.
In this video I show you how the tax code discriminates against widows who, with their spouses, saved money in IRAs.
Now, when the first spouse dies, the surviving spouse is going to hammered by the tax code AND could easily pay double for Medicare.
This would seem to be an issue many people would want to focus on, right? Well, no. For some reason, the taxation to surviving spouses escapes most peoples and advisors radar. I don't know why, but if there is anything that God has put me on earth to do is to explain how widows will pay more in tax, at at time they can least afford it.
Don't let this be you!!!
Strategize now with your tax person, your advisor, with your computer software...anything and everything that will help you see the light.
Your surviving spouse will PAY if you don't do something!
https://www.kitces.com/blog/bipartisan-budget-act-2018-irmaa-medicare-premium-surcharges-tuition-and-fees-deduction/
https://www.kff.org/medicare/issue-brief/medicares-income-related-premiums-under-current-law-and-proposed-changes/
https://www.kiplinger.com/article/retirement/T039-C000-S004-medicare-surcharges-have-costly-effects.html
