How to do a comprehensive tax review

Hi Reader,

We know this time of year means many of you have newly filed tax returns in hand, or at least reviewed the numbers before extending.

If you feel a little overwhelmed looking at your return, you're not alone. When the 1040 tax form debuted in 1913, the entire form (and all instructions) was just four pages. Today, the form, schedules, and instructions run 148 pages!

The good news is you don't have to make sense of all 148 pages on your own. If you're wondering what you might have missed, what deserves a second look, or where to focus your attention on your recently completed return, we have a couple of resources for you.

First, be sure to attend our April webinar, which will walk through an in-depth tax review on a sample return. It will provide you a guide to follow, and give you a sense of what we do behind the scenes each spring with our clients. More details on that below.

Second, we have this tax review checklist (or this version, which is tailored to those still working). It will help you identify important changes or scenarios in your situation that may warrant your attention.

As always, if the topics in this newsletter prompt any questions or concerns, simply hit reply to this email and we will be in touch!

Regards,

The Arnold & Mote Team

April Webinar: Reviewing Your 2025 Tax Return for 2026 Opportunities

You may be wondering what you can do to reduce your tax bill for 2026, or how the new tax laws will impact your taxes going forward. In the webinar, we'll walk through a comprehensive review of a 2025 tax return and show you exactly which numbers to focus on. We'll also highlight the most common opportunities we see in client returns to reduce future tax liability.

In this webinar, we’ll cover:

• Managing taxable income and your income tax brackets, capital gains brackets, Net Investment Income Tax (NIIT), and IRMAA brackets.
• What lines on your tax returns are used to calculate the six different formulas for MAGI that determine your Roth IRA eligibility, $6,000 enhanced senior deduction, ACA premium tax credits, and more.
• Income limits for numerous tax credits and deductions.

Join us for the live broadcast at noon Central Time on Friday, April 24th, streamed on our YouTube channel here:

Want a reminder before we go live? Click the button above and subscribe to our channel to be notified as the webinar begins:

If you can't attend live, a replay of the webinar will be accessible immediately after and available alongside recordings of all previous webinars on our YouTube channel.

Have a question you'd like us to address during the webinar? Just reply and let us know.

Miss last month's webinar? You can view a replay of Advanced Roth Conversion Tactics here.

Video From Arnold & Mote

​Medicare IRMAA FAQs​

For higher income retirees, Medicare adds a surcharge to your Part B and Part D premiums, called IRMAA. The extra charge is determined by your income, and this video covers a few of the most common questions we are asked about IRMAA, including:

• Are IRMAA payments tax deductible?

• How long does IRMAA last?

• How is IRMAA billed?

Arnold & Mote Featured in the Press

The Wall Street Journal: How Much Money Can You Make Chasing High-Yield Savings Rates?​

We were recently interviewed for this article in The Wall Street Journal about ways to maximize the interest on your cash savings while keeping the effort to a minimum.

You can very often find banks offering temporarily high interest rates, but these accounts have no guarantee they will continue to pay high rates for future months. The article also covers other options for your cash savings and when they may be a better fit.

See our other recent press mentions on our Press Page.

Looking for Something From a Prior Newsletter?

As a reminder, you can now find the last 12 months of our newsletters here:

Whether you’re new and want to browse newsletters you missed or are trying to follow up on a topic from a few months ago, we’re now publishing all newsletters at the link above. We'll also keep this link at the bottom of all future newsletters.

Quinn and the Arnold & Mote Wealth Management Team

(319) 393-4020

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