Medicare, IRMAA, Social Security, Roth Conversions, Taxes, RMDs, and Trusts: Q&A #2401

January 6, 2024

Medicare, IRMAA, Social Security, Roth Conversions, Taxes, RMDs, and Trusts: Q&A #2401

Jim and Chris discuss listeners questions relating to Medicare, IRMAA, Social Security, Roth conversions, taxes, RMDs, and trusts.

(5:00) George from Arizona asks why Medicare doesn’t “true up” IRMAA penalties on a tax return.

(12:00) George in Florida wonders if a couple has to be married for 10 years consecutively to qualify for a Social Security spousal benefit.

(20:30) A listener from Michigan looks for advice on Medicare as an eventual USPS Federal retiree.

(32:15) A listener comments on this week’s EDU show and provides some helpful insight on resources for Medicare.

(35:45) George in Oregon asks a couple of questions relating to Roth conversions and the best way to pay taxes on the conversions.

(39:45) A listener wonders if he and his wife’s aggregate required minimum distribution (RMD) can be satisfied by taking the distribution from his IRA only.

(43:00) A new listener looks for investment options/suggestions to make up for his lack of Social Security benefit in retirement.

(1:01:30) A Michigan listener asks about listing “master trusts” and sub-trusts” as beneficiaries to an IRA in Charles Schwab.

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.