Retirement

Time to Get to Know the Saver’s Credit The Saver’s Credit (aka the Retirement Savings Contributions Credit) helps lower to middle income taxpayers to reduce their taxes when they contribute to an employer retirement plan or a traditional or Roth individual retirement account. The vehicle is a nonrefundable tax credit, the amount being based on
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A friend, new to Medicare, asked me whether Medicare covered annual physicals. I told him, “No, it doesn’t.” The Social Security act clearly prohibits Medicare from paying for annual physical examinations. A week later, he told me I was wrong. He found proof that Medicare does indeed cover these examinations. “Physical exams, right there, on
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Here are two very important questions I ask clients who are over 65, still employed, and considering Medicare enrollment. One: “Is your prescription drug coverage considered to be creditable?” The response is frequently a blank stare or a shoulder shrug. Two: “Have you gotten any notices from your employer about the status of your prescription
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