NJ Tax Payers: Make Sure You Always Claim Your Medical Expenses

A 30-second read by Nicholas Scheibner:  New Jersey is certainly not known as a “tax-friendly” state.  However, the garden state has a much lower threshold on medical-expense deductions than the federal government. New Jersey allows certain non-reimbursed medical expenses to be deducted after they exceed only 2% of your gross income

A few examples of things you should make sure you keep track of throughout the year:

  • Medicare Insurance Premiums
  • Dental Insurance Premiums
  • Doctor Co-pays
  • Out-of-pocket Prescription Costs
  • Eyeglasses and Vision Exams

This is commonly overlooked by taxpayer’s who do not itemize their deductions.  However, if you make $60,000 gross income per year, 2% is only $1,200.  For most people, their medical expenses will exceed that 2% as long as they keep track of all of them.

As always, if you have any further questions, don’t hesitate to contact the Baron Financial Group Team.

Disclosure: This material is not intended to be relied upon as a forecast, research, tax or investment advice.  Please consult your financial planning and tax professional for personal advice.

Responsible Guidance: Tips to Prevent Medicare Fraud

A 30-second read by the Baron Team:  If you are currently a Medicare card holder, below are some fraud-prevention tips provided by Medicare.gov that you may want to be aware of. Just like your credit card or social security card, you want to make sure your Medicare card and/or number is always protected.

Below are some tips highlighted in the Medicare.gov “Tips to prevent fraud” article:

Continue reading “Responsible Guidance: Tips to Prevent Medicare Fraud”

Medicare Open Enrollment – Oct. 15th – Dec. 7th, 2018

Medicare is health insurance for individuals who are 65 and older, under 65 with certain disabilities, or those who have End-Stage Renal Disease (ESRD). The 2019 Medicare annual open enrollment period begins today, Oct. 15, 2018 and runs through December 7, 2018.

The 2019 Medicare Parts A & B premiums and deductibles are available at cms.gov

You can learn more at Medicare.gov, the official U.S. Government site for Medicare.

If you have any further questions, please don’t hesitate to contact the Baron Financial Group team.

Medicare Webinar: Prepare for the 2018 Medicare Open Enrollment – Oct. 15th – Dec. 7th, 2017

Medicare is health insurance for individuals who are 65 and older, under 65 with certain disabilities, or those who have End-Stage Renal Disease (ESRD).

The 2018 Medicare annual open enrollment period will begin on Oct. 15, 2017 and run through December 7, 2017. Baron Financial Group’s informative webinar, presented by independent Medicare Consultant Mary Jean Cullen (MedicareAssist, LLC), discusses how Medicare works and what you need to know prior and during your Medicare years. This presentation was first held at the September 13, 2016 Wine & Wealth event for Baron Financial Group clients.

You can learn more at Medicare.gov, the official U.S. Government site for Medicare.

If you have any further questions, please don’t hesitate to contact the Baron Financial Group team.

Medicare & Retirement Planning Webinar

Baron Financial Group’s Investment Committee provides an educational webinar on financial planning and investment management.  Medicare Consultant and guest presenter Mary Jean Cullen (MedicareAssist, LLC) discusses how Medicare works.  It is important to keep in mind that annual enrollment is open now through December 7th.

This presentation was first held at the September 13, 2016 Wine & Wealth event for our clients.

The webinar includes the following topics:

  • Beware of Market Doomsayers (0:00 -7:28) – Victor Cannillo
  • Asset Allocation and Diversification (7:30-15:53)   – Anthony Benante
  • Customized Financial Planning  (15:56-19:04) –  Nicholas Scheibner
  • Choosing A Medicare Plan: Learn What You Need To Know Prior and During Your Medicare Years    (20:12-45:47)  – Mary Jeanne Cullen

If you have any further questions, don’t hesitate to contact the Baron Financial Group team.