Understanding Medicare IRMAA Brackets and How to Plan Early
Planning ahead for IRMAA surcharges has become more important as the bracket tiers narrow and Medicare premiums increase.
March 15, 2024
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Category: Tax
About Me
Quentara Costa, CFP®
Quentara Costa helps the sandwich generation prioritize kids, self, and aging parents. For years Quentara was the primary caregiver for her father who was diagnosed with Alzheimer's at the age of 70. Since his passing, she’s become a mother of three. Professionally she received a master’s degree in Personal Financial Planning from Bentley University and has held the CFP® designation since 2010. Community involvement includes hosting the Merrimack Valley Senior and Caregiver Group and volunteering for Budget Buddies.
Maximize Last Year’s Tax Savings with these 5 Tips
Did you know numerous tax saving strategies don’t adhere to a year-end deadline? In this blog, we’ll explore some effective methods to minimize last year’s tax burden.
January 19, 2024
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Continuing Care Retirement Communities (CCRC) can be tax-deductible! Find out how to save on taxes.
Read how you may be able to save a bit on taxes if considering a CCRC. You may potentially be able to deduct a portion of the initial buy-in and ongoing rent.
March 1, 2023
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The SECURE 2.0 Act – For Retirees (or soon-to-be)
SECURE 2.0 has 90+ new or updated retirement provisions. For retirees, this means expanded catch-up contributions, charitable gifting options, and changes to RMDs.
January 30, 2023
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The SECURE 2.0 Act – For Workers
SECURE 2.0 is primarily meant to strengthen Americans’ ability to retire by enhancing savings options. For workers, this means automatic enrollment in retirement plans, enhanced matching, and flexibility to use savings for emergencies.
January 30, 2023
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All you need to know about 2023 Tax-Related Adjustments to Premiums, COLAs, Brackets and Thresholds
There have been so many recent announcements related to 2023 adjustments, let’s just tackle them all together!
October 27, 2022
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How to Capitalize on the Inflation Reduction Act of 2022
Solar panels, corporate taxes, and Medicare prescription drugs – oh my! Read the highlights of Biden’s latest bill.
September 5, 2022
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How to Minimize Taxes During Market Downturns
Market downturns, like the one through the first half of 2022, could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and in the future.
August 24, 2022
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What you need to know about Securing a Strong Retirement Act of 2021
SECURE Act 2.0 focuses on incentivizing people to save more for retirement. But will it be passed?
September 17, 2021
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What charitable deductions look like in 2021
Charitable donations create charitable deductions which dollar-for-dollar reduce your taxable income. Special legislation in 2020 and 2021 benefits even those taking a Standard Deduction.
July 20, 2021
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When you need to consider estimated tax payments
Passive income can unintentionally cause tax penalties for late or underpayments. This is avoidable by making estimated tax payments.
May 25, 2021
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How tax planning may be impacted after the election
Read about how tax planning opportunities could change in the coming years due to the upcoming election.
November 3, 2020
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Hidden Gems inside the CARES Act
Apart from stimulus checks, small business loans, and expanded unemployment, there are a few “hidden gems” sprinkled throughout the CARES Act that are worth noting.
April 20, 2020
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Tax Deadlines Extended until July 15!
The U.S. Department of the Treasury is delaying the April 15th deadline to file and pay taxes by 90 days, giving individuals and businesses another
April 7, 2020
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Who Should Prepare Your Taxes?
This year I had many families and small business owners asking for CPA recommendations. Surprisingly, the recent tax code changes that were meant to simplify
April 12, 2019
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The Taxing Effects of Selling Your Home
Because of the generous capital gains exclusion on selling a primary residence, you may find that you do not owe Federal taxes when it comes
March 29, 2018
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Talking Tax
Adjusted Gross Income (AGI) Gross Income (Salary, Investment Earnings, etc.) – Allowable Deductions, Credits, and Exemptions =Adjusted Gross Income The goal is to reduce
February 13, 2018
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Understanding the Impending Tax Legislation
Feeling insecure in your ability to banter on about politics, taxes, and headline news the next time you sit down with family and friends? I
December 18, 2017
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Forms of Business Ownership
Inspired by a question in the North Andover Mom’s Facebook Group! As a business grows from a hobby or planned venture, it’s important to put
December 4, 2017
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Useful Tips on How to Resolve IRS Problems
If there’s anything as disconcerting as having the Internal Revenue Service (IRS) call you about a problem, it’s having to call them. Most people don’t
November 20, 2017
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