Income Planning to Keep Your Medicare Part B Premiums From Increasing

Medicare Part B covers certain doctor services, outpatient care, medical supplies and preventive services. You pay a monthly premium for Part B that is automatically deducted from your Social Security benefit payment.

Most people will pay the standard premium amount. If your modified adjusted gross income (MAGI) is above a certain amount, you may be charged an Income Related Monthly Adjustment Amount (IRMAA) - basically a higher premium.

Your MAGI is your total Adjusted Gross Income plus tax-exempt interest income, non-taxable Social Security benefits and untaxed foreign income on your tax return.

Medicare uses the MAGI reported on your IRS tax return from 2 years ago to determine your current year premium.

For example, the standard Part B premium in 2023 is $164.90. If your MAGI on your 2021 return was $97,000 or less if single or $194,000 or less on a joint tax return, you pay the standard 2023 premium.

If the MAGI on your 2021 tax return was between $97,000 up to $123,000 (single taxpayers) or between $194,000 up to $246,000 on a joint return, your 2023 premium would be $230.80.

There are additional income ranges that can bring your monthly premium as high as $560.50 per month in 2023, if your MAGI in 2020 was $500,000 or more for single or $750,000 or more for joint taxpayers. Visit www.medicare.gov/your-medicare-costs/part-b-costs for more details.

These bunnies are too young for Medicare but are discussing future healthcare options nonetheless.

ARE YOU FILING AS MARRIED FILING SEPARATELY? BE CAREFUL!! If your individual MAGI is above $97,000 and less than $403,000, your monthly premium jumps from $164.90 to $527.50. That’s a huge jump.

TAX PLANNING: Let’s say you are single and have $45,000 in Social Security, $35,000 in IRA distributions and $15,000 in interest and dividends in 2021. That brings you to $95,000 in MAGI, which is below the $97,000 threshold where they increase your premiums. If you sold a stock for a $2,001 gain, that would bring you to $97,001 in MAGI and your monthly premium would jump by $66 per month. Perhaps it would be wise to wait and sell that stock in 2022.

The only problem is, Medicare doesn’t announce next year’s premium parameters until the fall, which usually is after you’ve filed your previous year tax returns. What to do?

Well here we are near the end of 2023, which will be used to establish 2025 Part B premiums. The best you can do is just use the 2021 parameters and plan accordingly.

The MAGI cut-off for standard premiums in recent years have changed as follows:

• 2021 (for 2023): $97,000 (single), $194,000 (joint)

• 2020 (for 2022): $91,000, $182,000

• 2019 (for 2021): $88,000, $176,000

• 2018 (for 2020): $87,000, $174,000

• 2015-2017 (for 2017-2019): $85,000, $170,000

What happens if your income jumps really high one year? You sell a rental property, win the Lotto, take a new job, etc. Well, your premiums will jump if your MAGI leaps over those income parameters. Not much you can do about it. The good news is that it will drop back down the following year if your MAGI drops below the income threshold.

There are some unique situations where you are allowed to an appeal a Part B premium IRMAA after you receive your notice from the Social Security Administration. Certain life-changing events that cause an income decrease can be considered to reduce your premium, such as death of a spouse, marriage, divorce, reduction in work hours, loss of pension, involuntary loss of income-producing property due to a disaster and receipt of settlement from employer due to closure or bankruptcy.

Visit www.medicare.gov for more information.

Household Hazardous Waste Collection Options for Thousand Oaks Residents

The City of Thousand Oaks Public Works Department's "GoGreen" website has hundreds of conservation tips relating to composting, energy conservation, hazardous waste disposal, recycling and trash, reuse programs, water conservation, living green advice, and much more. Check it out at www.toaks.org/GoGreen.

Like me, you may have a lot of junk lying around the house that you'd like to get rid of but are not allowed to place in the trash. 

Since May 2014, the City has run a permanent Household Hazardous Waste Facility located next to the Service Center at 2010 Conejo Center Drive, Newbury Park.

Residents of Thousand Oaks and unincorporated areas of Ventura County may sign up to drop off items at this facility on Fridays/Saturdays from 9am to 1pm, except certain holiday weekends, at THIS LINK. Advance registration is required.

Items accepted at these monthly collection events include acids, motor oil, antifreeze, asbestos, nail polish/remover, automatic switches, oil filters, batteries, paints, cement, paint thinners, chlorine, fertilizers, pool chemicals, fluorescent lights, propane cylinders, fire extinguishers, rodent poison, garden chemicals, smoke detectors, gasoline, solvents, used frying oil, household cleaners, weed killers and more. They do not accept tires, medications. business waste and other items.

One person's hazardous waste is another's gold! The City's Hazardous Waste Material Reuse Program allows residents to take away certain items previously disposed of, such as cleaners, paint, pool chemicals, motor oils, adhesives, etc. Selection obviously will vary. No appointment needed. Just stop by ReUse Store (same location as waste collection facility) on Friday/Saturday from 9 a.m. to 1 p.m.

The ReUse store will be closed weekends associated with the following holidays: President's Day, Memorial Day, Fourth of July, Labor Day, Veteran's Day, Thanksgiving, Christmas and New Year's Day

There are also convenient hazardous waste disposal for other items:

Batteries: Community Centers at Borchard Park, Dos Vientos and Thousand Oaks (next to TOHS), Goebel Senior Center, Thousand Oaks/Newbury Park Libraries, City Hall and Thousand Oaks Transportation Center.

Motor Oil/Filters: See THIS LINK.

Electronic Waste: Best Buy, Goodwill Industries, PC Recycle, Waste Management and Gold Coast Recycling Center. More info at THIS LINK.

Fluorescent Lights/CFL's: You may bring any size or type of fluorescent and LED bulbs to the City's Hazardous Waste Facility.

(See www.homedepot.com/c/ab/how-to-dispose-of-lightbulbs/9ba683603be9fa5395fab901b263d806 for more information on what to do with light bulbs of various types.)

Unwanted and/or expired medications can be dropped off throughout Ventura County at designated police stations, such as the East Valley Police Station Lobby at 2101 E. Olsen Road, Thousand Oaks. Open Mon-Fri 8am to 5pm.

Visit toaks.org/GoGreen for updates.

How to Be Coyote Aware in the Conejo Valley and Greater Ventura County

Living in the Conejo Valley, surrounded by thousands of acres of open space, most of us come into contact with coyotes from time to time. Coyotes are a vital component of rural and urban communities, deserving of respect for their adaptability, resilience and intelligence. Below are some tips on coyote awareness, courtesy of Project Coyote.

Facts:

• Coyotes are members of the dog family; they are curious, adaptable, and learn quickly.

• Coyotes often mate for life, are devoted parents, and are highly communicative (barks, yips, howls).

• Coyotes weigh 18-35 pounds in the West.

• Coyotes may be more protective of dens/territories during pup rearing (April-Aug).

• Coyotes eat large numbers of rodents and rabbits, as well as fruit, vegetation, insects and carrion. They help keep ecosystems vital, healthy and clean.

• Coyotes are naturally wary of people but can habituate to our presence and the reliable food sources that we provide.

Safety:

• DON’T FEED COYOTES. Their life and your safety depend on coyotes remaining wild and naturally wary of people.

• Remove attractants; pick up trash, secure garbage, and feed pets inside. Don’t leave food or pets outside at night.

• Walk dogs on leashes, especially during pup rearing season (April-Aug). Pick up your small dog if you see a coyote and don’t let pets roam.

• If approached, don’t run. Wave arms, make noise and walk toward the coyote until he retreats. Be “Big, Bad and Loud.”

• Avoid areas where coyotes may be denning or feeding/hiding pups.

• Appreciate coyotes from a distance. Share this information with family and friends.

Additional information found on the City of Calabasas website at www.cityofcalabasas.com/government/public-works/environmental-igr-division/living-with-coyotes-in-calabasas.

Volunteer Income Tax Assistance Locations in Ventura County

The Volunteer Income Tax Assistance (VITA) program recruits volunteer tax preparers to provide free preparation of federal and state income tax returns to taxpayers with incomes less than $64,000 in 2023. VITA benefits these taxpayers by eliminating the cost of commercial tax return preparation and by securing valuable tax credits such as the Child Tax Credit and EITC.

Local VITA location sites are as follows (see this IRS link for details, including dates and times and contact information for making appointments, when required):

• Newbury Park Library, 2331 Borchard Road - Wednesdays 10am to 4pm, 2/7/24 to 4/10/24. Appointments not required.

• Conejo Creek South Park, 1350 E. Janss Road, Thousand Oaks - Mon-Fri 8:30am to 4pm, 2/1/24 to 4/12/24. Appointments not required.

• Many Mansions, 2725 East Hillcrest Drive, Thousand Oaks - 2/6/24 to 4/30/24. Appointments are required.

• Calvary Church, 5495 Via Rocas, Westlake Village - 2/6/24 to 4/9/24. Appointments are required.

• Moorpark College - 2/1/24 to 4/30/24. Appointments are required.

• East County Job and Career Center, 2900 N. Madera Road, Simi Valley - 2/7/24 to 4/30/24. Appointments are required.

• CLU Oxnard Campus: 2201 Outlet Center Drive, Suite 600 - 2/6/24 to 4/30/24 - Appointments are required.

• Oxnard College, 4000 South Rose Avenue - 2/6/24 to 4/30/24. Appointments are required.

• United Way of Ventura County, 702 County Square Drive #100, Ventura. 2/1/24 to 4/30/24. Appointments are required.

• Ventura Community Service Center, 4651 Telephone Road, 2nd Floor. Appointments are required.

What to bring:

• Proof of identification (photo ID)

• Social Security cards for you, your spouse and dependents

• An Individual Taxpayer Identification Number (ITIN) assignment letter may be substituted for you, your spouse and your dependents if you do not have a Social Security number

• Proof of foreign status, if applying for an ITIN

• Birth dates for you, your spouse and dependents on the tax return

• Wage and earning statements (Form W-2, W-2G, 1099-R,1099-Misc) from all employers

• Interest and dividend statements from banks (Forms 1099)

• Health Insurance Exemption Certificate, if received

• A copy of last year’s federal and state returns, if available

• Proof of bank account routing and account numbers for direct deposit such as a blank check

• To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms

• Total paid for daycare provider and the daycare provider's tax identifying number such as their Social Security number or business Employer Identification Number

• Forms 1095-A, B and C, Health Coverage Statements

• Copies of income transcripts from IRS and state, if applicable

www.irs.gov/individuals/checklist-for-free-tax-return-preparation

The IRS partners with software companies to provide “IRS Free File” guided tax software for taxpayers with adjusted gross income (AGI) or $79,000 or less for the 2023 tax year. Learn more at apps.irs.gov/app/freeFile. Providers for 2023 filings include FreeTaxUSA, 1040.com, FileYourTaxes.com, 1040NOW, TaxAct, OLT.com, TaxSlayer, and ezTaxReturn.com

All About the Previously Owned Clean Vehicle Credit

A brand new tax credit, the Previously Owned Clean Vehicle Credit, came about from the Inflation Reduction Act of 2022. This new credit applies to pre-owned all-electric, plug-in hybrid and fuel cell electric vehicles purchased on or after January 1, 2023 through 2032. The credit, which is non-refundable, is 30% of the sales price, up to a maximum credit of $4,000.

As with pretty much every tax law, lawmakers made sure to make the requirements for this credit as confusing as possible. Here are the main parameters:

• The sales price, exclusive of taxes ad fees, much be $25,000 or less.

• The model year of the car must be at least two years prior to the calendar year the car is purchased.

• The car must be purchased from a licensed dealer, not a private party.

• The buyer’s modified adjusted gross income (AGI) cannot exceed $150,000 for married filing jointly taxpayers, $112,500 for head of household filing status and $75,000 for other taxpayers, in either the year of purchase or the previous year.

• The buyer cannot be claimed as a dependent by someone else.

• You can’t claim the credit more than once every three years, based on the actual purchase date of the car.

• The credit is applicable per taxpayer; the IRS as of this writing has not clarified if both spouses could claim the credit within the same three-year period. (That said, in theory they could file separately in the years they claim the credit.)

There are other specifics listed at www.fueleconomy.gov/feg/taxused.shtml#requirements.

Another important detail is that vehicles are only eligible for the credit for the first qualifying sale taking place on or after August 16, 2022. In other words, a used clean vehicle is not eligible for the credit after the first time, after 8/16/22, it is re-sold for $25,000 or less. How in the world will we know if that’s the case? Ask the dealer. They will know. What this means is that two cars with the same make, model and features offered at the same price of $25,000 or less…one them could be eligible for the credit while the other one is not.

As mentioned above, this is a non-refundable credit. This means that if you take the credit on your tax return, but your federal taxes are less than the credit, the excess goes away.

But wait…there’s a solution for that beginning in 2024! Starting this year, the credit can be transferred to the dealer and applied towards the sales price. The dealer, in turn, will receive the full credit from the IRS. The only catch is that you have to meet the AGI requirements mentioned above. If you file your tax return and do not meet those requirements, you’ll have to pay back the credit with your return. Whether you claim the credit at the dealer or on your return, you have to report the purchase on Form 8936.

Let’s use an example:

George is single and decides he wants to purchase a used EV. George expects his income to be $90,000 in 2024, but his 2023 return showed $70,000 in AGI, which qualifies him for the credit in 2024. He goes to the CarMax website and searches for electric cars at a price of $25,000 or less that are shown at www.fueleconomy.gov/feg/taxused.shtml.

George finds a 2013 Chevy Bolt for $13,000 but it shows it has had two owners. If it was already re-sold by a dealer to the 2nd owner after 8/16/22 for $25,000 or less, it is not eligible for the credit. The dealer will be able to tell you if this is the case. But let’s assume the previous sale took place before that date. George purchases the car for $13,000 plus sales taxes, license fees, etc., less the credit, because he chooses to transfer the credit to the dealer. The credit is 30% times $13,000, or $3,900. Enjoy your used Chevy Bolt, George! (Let’s hope the car’s battery still holds a decent charge.)

Looking for information on NEW clean vehicle car tax credits? Visit www.fueleconomy.gov/feg/tax2023.shtml.

Senior Adult Centers and Programs Throughout Ventura County

Here is a list of senior centers and programs throughout Ventura County. For more extensive information about serving the needs of seniors, visit the County of Ventura Area Agency on Aging website at www.vcaaa.org

The Goebel Senior Center is located at 1385 E. Janss Road, Thousand Oaks, between the Thousand Oaks Teen Center and Grant R. Brimhall Library. Open Monday through Thursday, 8:30 a.m. to 9 p.mm, Friday 8:30 a.m. to 5 p.m. and Saturday noon to 4 p.m. The 21,000 sq ft facility offers classes, events, excursions, drop-in programs and more. The facility also has meeting rooms, kitchen/dining room, billiards room, putting green, horseshoe pits and more. Senior Nutrition Program 11:30 a.m. to 1:30 p.m. weekdays. Suggest donation $3 for ages 60+. Visit www.crpd.org/programs-sports/adults-seniors or call 805-381-2744.

The Simi Valley Senior Center at 3900 Avenida Simi is a 22,000 square foot enrichment and learning center for adults. The center provides learning programs, exercise classes, meal programs, health services, excursions, computer classes, book clubs, support groups, billiard room, social services, art classes and more. For ages 50+. The Rendezvous Café operates weekdays and offers hot lunch for a suggest donation of $3 for 60+ seniors and $7 for others. Visit www.simivalley.org/departments/city-manager-s-office/community-programs-and-facilities/senior-center or call 805.583.6363.

The Pleasant Valley Senior Center is located at 1605 E. Burnley Street in Camarillo. The center is open M-F from 9am to 4pm and offers a variety of recreation and leisure program, a meal site for ages 60+ and social services for local residents. Programs and activities are not limited to Camarillo residents.

Visit www.pvrpd.org/senior-center or call 805.482.4881. More information on senior meal programs available from the Camarillo Health Care District at www.camhealth.com/senior-meals-program..

City of Oxnard Recreation and Community Services offers 3 senior centers. The Wilson Senior Center at 350 N. C Street is open M-F 10am to 4pm (805.385.8028), South Oxnard Senior Center at 200 East Bard Road is open M-F 8:15am to 2:15pm (805.385.8042) and Colonia Senior Center at 126-B Amelia Court, open M-F 8:30am to 2:30pm (805.385.8163). Visit www.oxnard.org/recreation/senior-services for more information.

The Moorpark Active Adult Center is located at 799 Moorpark Avenue. The center is open M-F from 8am to 4pm and offers classes, programs and more to ages 55+. Home delivered meals available to local 60+ residents and meals offered for low cost at the center. Visit moorparkca.gov/200/Active-Adult-Center for more information or call 805.517.6261.

The City of Agoura Hills runs a Senior Recreation Program for ages 50+ at its Recreation Center, located at 30610 Thousand Oaks Blvd.  The program offers fitness, social, educational and other great events and activities. Visit https://www.agourahillscity.org/department/community-services-parks-recreation/senior-recreation-program or call 818.597.7366 for more information.

The City of Ventura Senior Services program offers computer, recreational, specialty, social, health and fitness programs to 50+ at the Ventura Avenue Adult Center, 550 N. Ventura Avenue, 805.648.3035, and satellite sites at the Salvation Army (east Ventura), Pacific View Mall, TowneHouse, Ventura College and YMCA. A Travel Program office and special events are held at the Senior Recreation Center, 420 E. Santa Clara St, 805.648.2829. Visit www.cityofventura.ca.gov/669/Adult-Senior-Services for more information.

Ventura's Senior Lunch Program operates Monday through Friday from 11:30 am to 12:30 pm. $3 suggested price for ages 60 and up; $6.75 for others (as of January 2024). Nutritious hot entree with fresh fruit and vegetables plus special events. Westside Cafe located at the Ventura Avenue Adult Center, 550 N. Ventura Avenue. Call 805.648.3035 for more information.

The Santa Paula Senior Center is located at 530 W. Main Street and is open 9 a.m. to 2 p.m. Monday through Friday. Phone is 805.933.4272. The center offers classes, card games and meal programs to seniors. spcity.org/403/Senior-Center

The City of Fillmore Active Adult Center is located at 535 Santa Clara Avenue and is open 8 a.m. to 1 p.m. Monday through Friday. Phone is 805.524.4533. Meals, games, activities and classes are offered. www.fillmoreca.com/177/Active-Adult-Center

The Orvene S. Carpenter Community Center is located at 550 Park Avenue in Port Hueneme and is open Monday through Friday, 8:30 a.m. to 5 p.m.  The city's Senior Nutrition Program offers meals to those in need and classes are offered. Visit www.ci.port-hueneme.ca.us/facilities/facility/details/orvenescarpentercommunitycenter-2 or call 805.986.6542 for more information.

The Little House Multipurpose Center in Ojai at 111 W. Santa Ana Street next to Ojai City Hall is run by Help of Ojai, Inc., a non-profit organization that has been serving the needs of Ojai's seniors since 1968. The center offers programs, services, recreation and meals. Visit www.helpofojai.org or call 805.646.5122 for more information.

And for thousands of classes each year specifically geared towards seniors, check out THESE LINKS to community recreation programs throughout Ventura County.

Hazardous Waste Disposal and Recycling Programs in Ventura County

The California Department of Resources Recycling and Recovery (CalRecycle) website highlights common products that we use in our daily lives that contain potentially hazardous ingredients, thus requiring special care when disposed of.

Items that are banned from the trash are as follows:

Lights, Batteries and Electronics

• Fluorescent light bulbs and tubes ("old school" incandescent bulbs can be thrown in the trash.). Remember that LED light bulbs and holiday light strands are considered hazardous waste and must be disposed off properly. Here’s a Home Depot guide on how to dispose of light bulbs.

• Batteries of all types and sizes, AAA, AA, C, D, button cell, 9-volt, etc., both rechargeable and single use, as well as lead-acid batteries such as car batteries.

• Computer and television monitors including cathode ray tube (CRT), liquid crystal diode (LCD), and plasma monitors.

• Electronic devices including computers, printers, VCRs, cell phones, telephones, radios and microwave ovens.

Household and Landscape Chemicals

• Flammables and poisons such as oil-based paints and reactive and explosive materials

• Acids, oxidizers, and bases including some pool chemicals and cleaners

• Pesticides and herbicides

• Paints and Solvents - latex paint, oil-based paint, non-empty aerosol paint and solvent cans, and solvents such as paint thinners, nail polish remover, etc.

• Building materials that contain asbestos and wood treated with chromium copper arsenate.

• Automobile items including antifreeze, batteries, motor oil and filters and tires (tires are not considered hazardous but are banned from the trash for other reasons).

• Items Containing Mercury including electrical switches and relays in old appliances, old style thermostats, pilot light sensors in some gas appliances, some gauges and mercury thermometers.

• Other items such as propane tanks, hypodermic needles, syringes, expired/unwanted medications etc.

So what to do with these items? Recycle and reuse them! Here are some local Ventura County resident options:

The City of Thousand Oaks has a Household Hazardous Waste (HHW) Disposal Facility with details at THIS LINK. Appointments are required for HHW drop-offs. Materials accepted during regular operating hours include household items like aerosol sprays, nail polish, used frying oil, etc., items in the garage like antifreeze, brake fluid, oil, etc., as well as things like paint thinners, fertilizers, pesticides, etc. Click the link above for more detailed information.

City of Thousand Oaks battery recycling centers at THIS LINK. Dropoff options as of October 2022 include Borchard Community Park (front entrance), Dos Vientos Community Center (front lobby), Goebel Senior Center (front lobby), Thousand Oaks Library (both entrances), Newbury Park Library (front entrance), Thousand Oaks City Hall (front entrance), Thousand Oaks Community Center (front entrance) and Thousand Oaks Transportation Center (lobby). (Also Home Depot, but rechargeable batteries only.)

Thousand Oaks area computer and electronics recycling centers at THIS LINK.

Unwanted and/or expired medications can be dropped off throughout Ventura County at designated police stations. Details at THIS LINK.

Medicine disposal bin at East Valley Police Station in Thousand Oaks

The City of Westlake Village offers free monthly hazardous waste collection service via Waste Management. www.wlv.org/faq.aspx?TID=25

City of Simi Valley hazardous Waste Drop-Off Program on six Saturdays per year at THIS LINK.

City of Simi Valley household battery recycling options at THIS LINK includes Simi Valley Public Library, G.I. Industries/Waste Management and Anderson Rubbish.

City of Camarillo hosts household hazardous waste program drop-off events on the 2nd consecutive Friday/Saturday of each month. View upcoming dates and make appointments at www.cityofcamarillo.org/residents/trash___recycling/hazardous_waste.php.

Cities of Oxnard and Port Hueneme household hazardous waste collection events www.oxnard.org/household-hazardous-waste

Cities of Oxnard and Port Hueneme Antifreeze, Batteries, Oil and Paint Recycling www.ci.port-hueneme.ca.us/index.aspx?NID=1022

City of Moorpark hazardous waste drop-off events www.moorparkca.gov/150/Hazardous-Waste

Ventura County needle collection facilities crma.org/home-generated-sharps

City of Ventura hazardous waste collection events www.cityofventura.ca.gov/2103/Household-Hazardous-Waste-HHW-Events

City of Ojai hazardous waste collection options at THIS LINK (pdf doc)

Hazardous waste collection in Calabasas at THIS LINK.

Hazardous waste collection in Agoura Hills at THIS LINK.