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- Title
Filing Form SSA-44 Can Reduce Lifetime IRMAAs and Income Taxes: Planners can help their clients save thousands in additional taxes following life-changing events.
- Authors
Reichenstein, William
- Abstract
The article focuses on how individuals, particularly those facing higher income-related monthly adjustment amounts (IRMAAs) and income taxes, can benefit from filing Form Social Security Administration (SSA) 44 after experiencing life-changing events. Topics include strategies for reducing lifetime IRMAAs, managing modified adjusted gross income (MAGI), and optimizing Roth conversions for tax efficiency in retirement planning.
- Subjects
INCOME tax; INCOME; TAXATION; MEDICARE Part B; MEDICARE Part D; RETIREMENT income; LIFE insurance
- Publication
Journal of Financial Planning, 2023, Vol 36, Issue 9, p66
- ISSN
1040-3981
- Publication type
Article