HNW Medicare Cost Off-Setting

[Justin Bilyj]

Does anyone ever give recommendations on what to do to bring their taxable income down so that people qualify for lower Medicare premiums? I see premiums for these class of folk are going higher and was wondering if people defer taking income or reposition assets to deal with the issue.
Appreciate any insight on this.

 

[WCMason]

Does anyone ever give recommendations on what to do to bring their taxable income down so that people qualify for lower Medicare premiums? I see premiums for these class of folk are going higher and was wondering if people defer taking income or reposition assets to deal with the issue. Appreciate any insight on this.

I tell them what the thresholds are and how to appeal when a life-changing event may qualify them for a reduction, but do not give tax advice on how to reduce taxable income.

 

[Justin Bilyj]

Appreciate the reply Mason, of course don't give out tax advice, but if you look out there there is no literature on this side from a forum post (not this one), and a few articles here and there that are outdated. Maybe I should be asking this in the Annuity forum..