Roger and Annie tackle a topic they've never covered before: the tax issues that come with aging, for clients and preparers alike. They break down the new senior deduction, Social Security claiming strategies across the 62/67/70 timeline, IRMAA appeals, RMD rules, and when long-term care costs are actually deductible. They close with a cautionary tale about gifting appreciated property too early and the recordkeeping every family should have in place before it's needed.



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Chapters

• (00:00) - Welcome and Forum Travel
• (00:59) - Listener Shoutouts and Podcast Origins
• (02:21) - Tax Talk Today Inspiration
• (04:23) - Senior Deductions and Filing Thresholds
• (07:51) - Social Security Tax Basics
• (08:48) - When to Claim Social Security
• (15:48) - Solvency Fears and Policy Fixes
• (20:21) - Medicare Premiums and IRMAA Appeals
• (22:29) - Retirement Plans and Inherited IRAs
• (24:57) - RMD Rules and Planning Ideas
• (27:29) - Long Term Care and Medical Deductions
• (28:25) - Senior Living Deductions
• (29:12) - Chronically Ill Criteria
• (30:35) - Spouses Insurance Statements
• (32:21) - Meals Fees Itemizing
• (34:38) - Facility Records Due Diligence
• (36:26) - Gifts vs Inheritance Basics
• (37:57) - Basis Step Up Valuations
• (41:43) - Estate Returns Advisory
• (43:32) - Gifting Appreciated Property
• (43:57) - Lake House Cautionary Tale
• (48:04) - Client Records Planning
• (51:01) - Bank Red Tape Death Certificates
• (54:21) - Advisor Role Wrap Up
• (55:25) - Podcast Closing Updates

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Annie Schwab

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