Minimizing Your Taxes and Managing Your Complex Affairs

Tax Tips, Finance Tips, Fun Events

Tips for Individuals, Businesses and Charities. Fun Events.

How Does Your Income Impact Medicare Premiums

Medicare premiums may increase for affluent taxpayers with high income.

Your premiums are based on the income reported 2 years ago (2020 premiums are based on the 2024 return).

For more info and some of my comments see this Wall Street Journal article

https://www.wsj.com/personal-finance/taxes/what-is-irmaa-medicare-social-security-c7e2860a?st=yPLZVf&reflink=desktopwebshare_permalink

Richard Pon CPA, CFP