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Becky discussed the Income-Related Monthly Adjustment Amount (IRMAA), which can increase Medicare premiums for higher-income recipients.

Depending on income levels, these additional premiums can range from about $74 to $444 per month.

Becky also reviewed several practical strategies that may help reduce this potential tax burden.

For individuals who are still working, maximizing contributions to a 401(k) can help lower taxable income.

If eligible, contributing to a traditional IRA may also provide an additional deduction.

For retirees, making qualified charitable distributions (QCDs) directly from an IRA can be another effective way to reduce adjusted income, which may help avoid or minimize IRMAA-related Medicare premium increases.

Click the link below to watch the video—it’ll take you straight to our website. If you have questions or would like to schedule an appointment, please use the contact form on our website, and we’ll get back to you promptly.

Tax Tip Tuesday – March 3, 2026 – How To Avoid IRMMA Becky explains IRMAA, which can increase Medicare premiums for higher-income recipients by $74–$444 per month, and shares strategies to help reduce the impact, including maximizing 401(k) contributions.

If you’re thinking about selling your home — or you recently did — this is important.

In this video, I walk you through the current tax rules for home sales, including the $250,000 capital gains exclusion for single filers and $500,000 for married couples, available every two years if you qualify.

I also explain:

• The ownership and residency requirements you must meet

• How capital gains are calculated (sale price minus your original cost plus improvements)

• Why you must report the sale on your tax return — even if you owe no tax — to avoid unnecessary IRS penalties

Home sales are one of the most commonly misunderstood areas in tax law, and a simple reporting mistake can create bigger problems than necessary.

If you have questions about your situation, reach out. We’re here to make sure it’s done right.

Click the link below to watch the video—it’ll take you straight to our website. If you have questions or would like to schedule an appointment, please use the contact form on our website, and we’ll get back to you promptly. You can also call us directly from this post by clicking the call button below.

https://www.laser1040.com/2026/02/tax-tip-tuesday-february-24-2026-home-tax-sale-rules/

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Hey everyone, Becky here — and I’ve got an important update for our seniors this Tax Tip Tuesday.

New this year, low-income seniors may be able to reduce their taxable income by up to $6,000 per taxpayer on their federal return. Now keep in mind, this deduction does start to phase out as income increases, and it’s completely gone for single filers at $125,000 of income — double that for married couples filing jointly.

This deduction is claimed on the new Schedule 1A, so make sure you’re using the updated forms.

Here in Montana, we also have a separate senior deduction of $5,660, which was already in place last year—so don’t miss that one either.

And one more thing for my Montana seniors age 62 and older: if you have a lower income but higher property taxes, you may qualify for the 2EC Elderly Homeowner Credit on your Montana return. That can make a real difference.

If you’re not sure whether you qualify, Laser 1040 is here to help.

Let’s make sure you’re getting every deduction you deserve.

Click the link below to watch the video—it’ll take you straight to our website. If you have questions or would like to schedule an appointment, please use the contact form on our website, and we’ll get back to you promptly. You can also call us directly from this post by clicking the call button below.

https://www.laser1040.com/2026/02/tax-tip-tuesday-february-17-2026-senior-tax-deductions/