Ep 70: Free Money? More Stimulus Checks & Larger Healthcare Tax Credits

Ep 70: Free Money? More Stimulus Checks & Larger Healthcare Tax Credits

Listen Now:

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.

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Timestamps:

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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The Host:

Kevin Kroskey – About – Contact