Things To Do In SW Florida

In several of my columns, I have pointed out the advantages of Roth conversions from traditional IRAs. If you anticipate that you will not access the converted amount for several years, the advantages of tax-free interest, dividends and capital growth are considerable, as is the possibility of future increases in tax rates.

In addition, a conversion will add to the wealth of your beneficiaries because their inheritance will be tax-free. But, before you complete any conversions, take into consideration the possible potential problems.

For example, you can no longer change your mind after you execute a Roth rollover. Based on the latest regulations, you can’t reverse the conversion. So, you should review the following factors before you complete a conversion.

Rollovers and AGI

The rollover increases your adjusted gross income (AGI) in the year of your conversion, which means you will have increased federal taxes. You may also lose some credits or deductions for that year.

You also need to be aware of possible changes in your income-related monthly adjusted amount (IRMAA) surcharges. The increase in your modified adjusted gross income (MAGI) can result in surcharges associated with your Part B and/or Part D Medicare premiums. The calculation is based on your MAGI reported two years ago. So, the potential surcharge for 2025 would be based on your reported income from 2023.The surcharge applies to all premiums associated with Part B and D when your MAGI exceeds the first dollar of the IRMAA specified limits. In order to avoid the surcharge, you should consider taking partial conversions each year rather than taking a large conversion in one year. read more

By Craig Joseph and Jae Bratton, NerdWallet

The average consumer plans to shell out $1,778 on holiday expenses this year, according to Deloitte’s 2024 holiday retail survey. However, the same survey also noted that “all income groups are showing signs of frugality,” indicating that households continue to feel pressure from inflation.

While searching for the best deals, remember that strategic use of credit cards can rev up your rewards — rewards that can translate into meaningful savings. And here’s more good news: Saving with a credit card isn’t as hard as you think. Taking just one or two steps can give your holiday budget more breathing room.

Here are six tips to turbocharge your credit card rewards this holiday season.

1. Open a credit card

Many credit cards offer sign-up bonuses in the form of points or cash when you open a card. The catch: To earn the welcome offer, you must spend a certain amount of money on the card within a set time frame. The holiday shopping season can be the perfect time to knock out that spending requirement and earn a hefty bonus. read more

By GRETCHEN MCKAY, Pittsburgh Post-Gazette

PITTSBURGH — Pittsburgh is a city of cookie lovers.

As evidenced by the popular Facebook group The Wedding Cookie Table Community (which counts more than 325,000 members) and the dozens of entries to the Post-Gazette’s 2024 Holiday Cookie Challenge, Western Pennsylvanians also like to bake the sweet treats — especially during the holidays — both for gifts and to share after a meal with family and friends.

Which begs a question for those traveling by air over the next week: Will your homemade cookies make it through a security checkpoint at Pittsburgh International and other airports?

The answer is — whew! — yes, so long as you follow a few simple rules set by the Transportation Security Administration.

According to TSA officials, baked goods can be brought on board both for snacking and packaged as gifts so long as they are a solid item — think cookies, cakes, pie, brownies and, if you’re really old-school, even a fruitcake.

But if you can pour, spray, spill, spray or pump the goodies, and it’s larger than 3.4 ounces, it has to travel to its destination in a checked bag. That includes items such as the bottle of Pennsylvania maple syrup you picked up at a local market and the preserves and jellies you made with local fruit this summer. read more

Health care

Dr. Brian Braithwaite, a board-certified interventional spine and pain management physician, has joined the Orlando Health Jewett Orthopedic Institute.

Dr. Jaime Carvajal, a board-certified orthopedic surgeon, has joined the Orlando Health Jewett Orthopedic Institute.

Dr. Kyle Cox, a fellowship-trained orthopedic and sports medicine surgeon, has joined the Orlando Health Jewett Orthopedic Institute.

Dr. Joseph Monir, a fellowship-trained orthopedic surgeon, has joined the Orlando Health Jewett Orthopedic Institute.

Dr. Hunter Rafoth, a primary care sports medicine physician, has joined the Orlando Health Jewett Orthopedic Institute.

Dr. John Sanderson, a board-certified physician specializing in sports medicine, has joined the Orlando Health Jewett Orthopedic Institute.

Dr. Reza Tanveer, a specialist in physical medicine and rehabilitation, has joined the Orlando Health Jewett Orthopedic Institute.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com. read more

By BILL BARROW, Associated Press

ATLANTA (AP) — Nearly 3 million people could receive a boost in Social Security payments under legislation set for a final Senate vote in the coming days.

The Social Security Fairness Act would end longtime provisions that reduce the federal benefit for people who are also eligible for other pensions. The policies have heavily affected people who worked in state, local and federal government jobs, as well as teachers, firefighters and police officers, according to lawmakers and advocates.

The bill has bipartisan support but has drawn some criticism from some conservatives. The House approved the measure in November by a vote of 327-75 and the bill easily cleared its first hurdle in the Senate on Wednesday. Its backers hope the Senate will vote to send the legislation to President Joe Biden before lawmakers’ lame-duck session gives way to the new Congress in January.

Here is more on what the bill would mean:

What would the measure do?

The bill would repeal two provisions that limit Social Security benefits for certain recipients based on retirement payments they get from other sources — most often, but not exclusively, a public retirement program of a state or local government. read more