Episode 12 of Retire Hour. Matt Goolsby is joined in studio by Jonathon McCoy of Market Advisory Group. Matt and Jonathon discuss a bunch of little things that you need to pay attention to when planning for retirement. Bill Vawter of Market Medicare Advisors, talks with Matt about the confusing “alphabet soup” that is Medicare and all of its programs and supplements. Gerald Eidelman of Eidelman Law Firm, goes over how to plan your estate when you own a business, want to leave that business to your heirs and some pitfalls to avoid. Joshua Cicora of Market Tax Services, talks about a variety of deductions that may be available to you and some that you may be missing when filing your taxes.
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0:00 Welcome's
1:10 Little things that can become big losses
5:30 Buy & Hold pitfalls
7:23 Rules Based Approach
8:17 Cash switching pitfalls
10:21 Elections & paying off debt with 401(k) consequences
12:42 It pays to have a plan
13:23 Contact information
13:45 Commercial break
15:49 The Alphabet Soup of Medicare
17:35 Two Medicare versions - Go Left or Right
18:47 Standardized Medicare Supplement Plans
19:59 Under the umbrella
20:33 Medicare Advantage is not a supplement
21:43 PDP & other acronyms
23:40 IRMAA
24:18 Why agents' will try to talk you out of Medicare Advantage
26:03 Commercial Break
27:58 Structuring Family Businesses
31:18 Buy/Sell Agreement with Life Insurance
32:54 Other structuring options
38:45 Commercial Break
41:00 Itemized Deductions - State & local tax (SALT)
41:51 Property tax deductions
44:24 Sales tax & income deductions
46:12 What's not deductible?
47:42 SALT maximum
49:00 Interest & Charitable contributions
50:53 See you next week
