New Tax Brackets for 2022

By |2021-12-13T12:27:09-05:00December 13th, 2021|Financial Planning|

It seems like you just finished filing your tax return and now it’s almost time to step into the ring with the IRS again. But as you contemplate gathering receipts and tax records for 2021, the IRS is at work adjusting tax brackets for 2022. The U.S. tax system uses a graduated scale, meaning you pay different percentages on your [...]

SPECIAL REPORT: The Definitive Guide to Medicare

By |2021-12-07T12:43:16-05:00December 7th, 2021|Alhambra Research, Financial Planning, Retirement, Special Reports|

There’s a common misconception that Medicare is a simple, automatic process when you turn 65. Nothing could be further from the truth. The responsibility to enroll is on your shoulders, and if you miss deadlines or don’t enroll in just the right way, you can incur penalties that will consume chunks of your retirement income for the rest of your [...]

The Estate Tax Exemption Amount Increases in 2022, BUT…

By |2021-12-06T12:05:02-05:00December 6th, 2021|Estate Planning, Financial Planning|

When the Tax Cuts and Jobs Act of 2017 became law, estate tax exemptions got a substantial boost. The amount each individual could pass on free of federal estate taxes jumped from $5,490,000 in 2017 to $11,180,000 in 2018.  That amount has increased each year since then based on the Consumer Price Index. In 2022, the exemption rises from $11.7 [...]

Medicare Eats Up Most of the 2022 Social Security Raise

By |2021-11-30T15:57:50-05:00November 30th, 2021|Financial Planning, Retirement|

There was dancing in the streets when Social Security announced that 2022 checks will go up by 5.9%, the biggest Cost of Living Adjustment (COLA) in 40 years. But now, the streets are empty and the cheering is gone. Most of that Social Security COLA will be eaten up by increases in Medicare. Medicare Part B, which covers doctor services [...]

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