Agreed with others, this is a very good review. I've spent a fair amount of time the past few months helping a non-profit organization consider the impact of tax changes from the tax bill passed earlier this year. An additional item to factor in for 2025 (which most of you likely know) is the SALT limitations increased from $10k to $40k which likely pushes a lot of people above the standard deduction of $15,750 for 2025. I'm disappointed by the federal funds pulled from nonprofits but am happy to see the SALT changes will benefit nonprofits.
Other important consideration is preapprovals and doctor/hospital network. I also have health challenges and am eligible for Medicare. Although more expensive than MA .... my cost is roughly $185/month for Part B + $322/month for supplemental/gap + $0 for Part D/drugs. I do not need to deal with the preapproval process thru MA and have extensive network of doctors, this is worth the extra cost. Another factor is the total deductible which is about $250/year. The Part B will increase over time. It's important to ensure you choose an insurance company who has a good track record in the state where he lives.
Thanks for the information on resources. I like to use the prior year TurboTax (TT) software to estimate my upcoming taxes and plan for capital gains, charitable contributions, etc. I enjoy spreadsheets and will also download to compare to my TT planning. And for those who like TT, I highly recommend buying the software vs online version. I play around with different scenarios and can see impacts in the Forms after the Step-by-Step. Thank you all for your helpful articles. I've been reading (and recommending to others) the Humble Dollar blog and find lots of value. This is my first post. Thanks all, S
Comments
Agreed with others, this is a very good review. I've spent a fair amount of time the past few months helping a non-profit organization consider the impact of tax changes from the tax bill passed earlier this year. An additional item to factor in for 2025 (which most of you likely know) is the SALT limitations increased from $10k to $40k which likely pushes a lot of people above the standard deduction of $15,750 for 2025. I'm disappointed by the federal funds pulled from nonprofits but am happy to see the SALT changes will benefit nonprofits.
Post: Smarter Giving in Retirement and the Medicare Gotcha
Link to comment from September 8, 2025
Other important consideration is preapprovals and doctor/hospital network. I also have health challenges and am eligible for Medicare. Although more expensive than MA .... my cost is roughly $185/month for Part B + $322/month for supplemental/gap + $0 for Part D/drugs. I do not need to deal with the preapproval process thru MA and have extensive network of doctors, this is worth the extra cost. Another factor is the total deductible which is about $250/year. The Part B will increase over time. It's important to ensure you choose an insurance company who has a good track record in the state where he lives.
Post: Helping a Sibling with Health Insurance Costs?
Link to comment from September 8, 2025
Thanks for the information on resources. I like to use the prior year TurboTax (TT) software to estimate my upcoming taxes and plan for capital gains, charitable contributions, etc. I enjoy spreadsheets and will also download to compare to my TT planning. And for those who like TT, I highly recommend buying the software vs online version. I play around with different scenarios and can see impacts in the Forms after the Step-by-Step. Thank you all for your helpful articles. I've been reading (and recommending to others) the Humble Dollar blog and find lots of value. This is my first post. Thanks all, S
Post: Tax estimation tools on Bogleheads Wiki
Link to comment from September 8, 2025