Quote:
Originally Posted by manaboutown
IRMAA and NIIT (Medicare Tax) are sheer evil and impossible to avoid once one reaches that level of income.
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I know it is harder for a single filer. Looks like the guess for 2025 IRMAA is $105,000 for one for 2023 income. (Not sure if I am right about that though. I don’t know if or how inflation factors in when the time comes.)
Married can allow more room to try to stay out of IRMAA’s clutches.
That darned look-back can catch taxpayers by surprise. A fat cap gain can do it. Gotta think two years ahead — and you have to know you have to think two years ahead — in case you might have a chance to duck IRMAA.
I know I sound a little obsessed with IRMAA sometimes.
That’s the old teacher in me. Still trying to make a difference for somebody, maybe. Once a teacher always a teacher, I guess. At least, my state pension has the word ‘teacher’ somewhere in it.
Btw, manaboutown , I saw you picking on teachers earlier in a thread somewhere. (sigh) Oh well, I like to pick on you sometimes.
Boomer