A short video by Craig Wear, CFP® discussing how high income affects Medicare Part B premiums and the role of Roth conversions and business income in planning. The presenter describes intentionally doing Roth conversions that temporarily raise income and mentions remaining on Medicare while continuing business income.
Some of the people listening to this have already experienced those Medicare Part B premiums being higher. And you know, in our business, when we get people to do conversions, Roth conversions, well, we, we force their income into a higher bracket on purpose because the tax benefits are well worth the extra. But. And then they go down once their income stops. But in my case, where I continue, I plan on continuing to have our business and to continue to help people the way we have. I'm going to be on Medicare and I'm going to have a high income for who knows.
