IRMAA, which stands for Income-Related Monthly Adjustment Amount, is a term that may not be familiar to everyone. However, for individuals enrolled in Medicare, IRMAA can have a significant impact on their healthcare costs. Here are the basics of IRMAA, why it matters, and how it can affect your Medicare expenses. What is IRMAA? IRMAA […]
If a disaster strikes, your immediate concern will be your safety and the safety of those you care most about. Once the immediate danger passes, however, having your financial records and essential information in one central location will be crucial to help you start the recovery process. Take the time now to think about those […]
When most people hear the words “estate planning,” they typically tune out the information that follows, assuming this process applies only to the ultra-wealthy. Contrary to common thinking, the benefits of estate planning are not at all exclusive to this group. Most, if not all individuals and married couples should consider estate planning in a […]
As featured in our previous newsletter: “Understanding and Evaluating your Personal Financial Statements,” we learned that personal financial statements refer to a document or spreadsheet that highlights an individual’s financial position at a given point in time. The statements include information about the individual, such as a name or address, along with a personal balance […]
By Lisa A. Mrkall, CPA, MBA, Partner We have the distinct privilege of touching clients’ lives each year when we provide tax preparation services for them. Our client’s tax returns serve as a roadmap to begin to understand their personal financial situations. We often see situations during the preparation of the tax return that lend […]
Estate planning – the generational transfer of wealth – can be an important financial planning tool for people regardless of the size of their estate. In this recorded webinar, Lisa Mrkall, CPA, MBA, Partner, and Adam Ohar, CPA/ABV, Principal, discuss important estate planning documents such as wills, financial power of attorney, advance health care directive, […]
As your trusted advisor, your CPA at Tronconi Segarra & Associates is by your side during the many chapters of your life. We support our clients through times of prosperity and expansion in their businesses and personal lives, as well as during times of hardship, challenges and change. One such time is when a family […]
We often think of financial statements in the context of the business world where they are common place and are frequently used to gauge financial performance, determine a company’s value, satisfy bank and loan requirements, aid in strategic planning, amongst a host of other uses, the list is endless. On the flipside, we will focus […]
As we reflect back on 2023, there was no shortage of news and scenarios related to the U.S. economy and personal finance. Interest rates, inflation, housing prices and a turbulent political landscape were among the many issues important and relevant to taxpayers. Tax season once again warrants the gathering of records and important statements in […]