One of the key items on your tax return is a set of figures called Adjusted Gross Income, often called AGI, or Modified AGI, often called MAGI. These numbers determine
Calculating the MAGI to be eligible for Roth contributions is one of the most common misunderstandings we see when tax planning with our clients. One confusing part of our tax
Rules for required distributions from inherited IRAs have changed significantly in recent years. For several years, there was uncertainty regarding how recent tax laws, such as the SECURE Act, applied
When a loved one passes away and leaves behind property, you may be required to pay Iowa inheritance taxes. How much, or whether you pay any inheritance taxes at all,
Non-deductible IRA contributions are a common option for savers to get more money into retirement accounts. While saving into an IRA is certainly never a bad idea, we find that
What are Iowa’s income tax rates and what can you do to keep your state taxes in check?
For higher income retirees, Medicare adds a surcharge to your Part B and Part D premiums, called IRMAA, or the Income Related Monthly Adjustment Amount. The extra charge is determined
Understanding the type of income that counts towards the IRMAA calculation is important because avoiding IRMAA can save you hundreds of dollars per month on each spouse’s monthly Medicare bill.
When should you withdraw money from a Roth account in retirement? Roth IRAs and Roth 401(k)s are excellent long-term retirement accounts. The money in these accounts grows tax-free, and the
As of tax year 2026, Iowa has simplified its income tax system, creating clarity for both working adults and retirees. Here’s what’s new and what it means for your planning.