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, Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: CO, IA, IN, MA, NY, TN, TX, WI and WY. No offers may be made to or accepted from any resident outside the specific states mentioned. Jim Saulnier, Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning services offered through Jim Saulnier and Associates, LLC., a Registered Investment Advisor. Cambridge and Jim Saulnier & Associates, LLC are not affiliated.