Social Security, Tax Credits, Step-Up in Basis, VATs, Rollover IRAs, and LTC: Q&A #2114

April 3, 2021

Social Security, Tax Credits, Step-Up in Basis, VATs, Rollover IRAs, and LTC: Q&A #2114

Jim and Chris sit down to discuss listener questions and comments on Social Security, Tax Credits, Step-Up in Basis, VATs, Rollover IRAs, and LTC.

(7:00) A listener from North Carolina would like to know how the family’s maximum Social Security benefit affects a child’s Social Security benefit.

(25:10) A CPA from Alabama commented on future tax credit proposals.

(30:50) A Californian has a comment about the possible elimination of the step-up in basis readjustment.

(34:20) A listener from Virginia has a comment about the possible impact Value-Added Taxes (VATs) could have on Social Security Cost of Living Adjustments (COLA).

(42:25) George from Oregon asks a question about Rollover IRAs.

(50:10) A South Carolinian is curious about self-funding for Long-Term Care, and if there is such thing as a “Catastrophic Coverage” Long-Term Care policy.

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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.