The Smart Take:
The government’s money-printing machine is ripping. Here comes round 3 of stimulus checks and larger healthcare tax credits for many pre-Medicare retirees.
Hear Kevin discuss the 3 rounds of checks, income phaseout ranges, and planning strategies to get yours. In some cases, you may want to file your 2020 tax return sooner and in others, you may want to wait. For many retirees, we are modifying our tax-smart distribution plan midyear 2021, lowering our taxable income targets and reducing Roth conversions, to reap benefits. Otherwise, you may lose out on thousands.
As the saying goes, there is no such thing as a free lunch. We’re all paying for this in the long run. May as well try to get yours now.
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth’s CFP® Professionals.
3:49 – Tax Season Is Upon Us
6:07 – Eligibility & Phase Out Threshold For All 3 Stimulus Checks
19:20 – Short Term Solutions
22:07 – More Changes To Be Aware Of
27:02 – Healthcare Tax Credits
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