Show Notes for this Episode:

2020 is one of those years where we could be on the verge of major tax changes next year and in future years. Unfortunately, we won’t know more about this until 2021. I don’t like to speculate or make bets on what could happen. It’s best to go with what we know to be true for the 2020 tax year.

With a Biden administration and a Democratic Congress, we could see the Biden Tax Plan having a much better chance of getting implemented. Again, we won’t know this until next year!

The end of the year is a really good time to do tax planning. There are a handful of tax planning strategies that might make sense for you to take advantage of based on your situation. However, I also recommend that you do tax planning throughout the year. There are always potential opportunities to reduce your taxes if you stay ahead of this each year.

Although CPA’s are great for doing tax returns, many of them do not have the time to help you plan ahead on your taxes strategically. This is where a Certified Financial Planner™ can really be valuable. An experienced CFP® can help you with tax planning strategies throughout the tax year.

What you will learn in this episode:

• How to better understand the tax bracket system and where you fall (see 2020 tax brackets below)
• Tips for adjusting your withholding for 2020
• Opportunities to consider if you’re income was lower this year and/or you lost your job due to the pandemic
• An easy way to lower your tax bill whether you itemize or take the standard deduction
• Additional retirement savings opportunities to take advantage of before year-end

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In this episode, Stephanie tackles a listener question; how to invest a lump sum of money. Should you invest all at once even with markets at an all time high? Or are you better off investing in installments over a period of time? Find out as Stephanie shares her thoughts on this important and timely question.

Listen and subscribe to the podcast in your favorite podcasting app: Apple Podcasts | Spotify | Google Podcasts

Are you a woman professional in your 40s, 50s, or 60s? Join the virtual Women Retire Smart Community and learn more about how you can retire smart, secure, and happy!

Show Notes for this Episode:

In this episode, I interview Danielle Roberts. Danielle is a Medicare expert and bestselling author of the book, 10 Costly Medicare Mistakes You Can't Afford to Make.

Danielle is a wealth of knowledge when it comes to Medicare. Medicare is one of the most important benefits we are eligible for in retirement. It covers our primary healthcare from age 65 and beyond. However, Medicare is very complex. There are many ins and outs to understand when it is your time to either sign-up for or change your Medicare benefits plan.

In this episode, you will learn:

• when to sign-up for Medicare (and why you can't miss this deadline)
• how to enroll in Medicare
• decoding the Medicare alphabet soup
• what are the costs of Medicare insurance (no, it's not free)
• do you need a Medicare supplement plan?
• the difference between a Medicare Supplement (Medigap) and Medicare Advantage plan
• the most comprehensive Medicare Supplement plan today
• what you need to know about Medicare open enrollment
• how earned income at age 65+ can impact your Medicare premiums
• potential changes to Medicare in the future

More information about Danielle:

• Danielle's #1 bestselling book 10 Costly Medicare Mistakes
• Danielle is co-founder of Medicare brokerage agency Boomer Benefits
• The Boomer Benefits Facebook Group (where you can ask your questions!)
• Find and connect with Danielle on Facebook, LinkedIn, and Twitter

Want to join a community of like-minded women in midlife who are taking charge of their wealth? Learn more about the Women Retire Smart™ Community!