A new proposal by Governor Rick Scott has proposed temporary sales tax exemptions for back-to-school supplies, disaster preparedness items, and recreational activities. But this proposal would only serve as a band-aid and will not address the deep inequities in Florida’s tax code. In fact, the Institute on Taxation and Economic Policy said that such temporary exemptions would only benefit Floridians temporarily, while causing many to lose their homes to foreclosure. Fortunately, Florida has a tax reform alternative – the Working Floridians Tax Rebate.
The state has long fought for tax breaks for businesses, but the current policy does not go far enough. DeSantis has promised to veto the tax cuts if he loses the November election. But he has also promised tax breaks for businesses that double as campaign donors. One proposal will eliminate sales tax on Daytona 500 and Formula One grand prix tickets. Another plan is to give an exemption for aquaculture, which could benefit Atlantic Sapphire.
Florida lawmakers approved a $1.2 billion tax break for Floridians in a measure known as House Bill 7071. This plan includes ten sales tax holidays. This will make it easier for Floridians to purchase items that are commonly purchased by Florida families. The bill also lowers the price of gas by 25 cents a gallon. Fortunately, the state is addressing the problem of high inflation. It is also important to note that these new tax breaks will only benefit those in Florida.
IRMAA is an acronym that stands for medicare’s Income Related Monthly Adjustment Amount.
The Medicare Handbook defines IRMAA as “an extra charge to your premium” if you are earning too much income.
Ultimately, IRMAA is a tax on your income through Medicare, but you have to be earning a certain amount of income beforehand to qualify for it.
Who is IRMAA for?
According to Social security.gov, which is responsible for placing people in IRMAA and collecting the surcharges, IRMAA is for:
Medicare beneficiaries that “have modified adjusted gross income (MAGI) above the threshold for their tax filing status pay an IRMAA in addition to the monthly premium.”
These Medicare beneficiaries that are eligible for IRMAA must be in either or:
Medicare Part B.
Medicare Part D.
Medicare Advantage Plan with or without prescription drug coverage.
They also must not be receiving financial assistance in meeting any of the premiums too.
When did IRMAA start?
IRMAA was established in 2003 with Congress passing the Medicare Modernization Act.
It did not take effect until 2007.
How do you qualify for IRMAA?
You qualify for IRMAA by your modified adjusted gross income or MAGI. The greater your MAGI the greater your possibility of not only reaching it, but also possibly finding yourself in a higher surcharge bracket.
There are 5 different IRMAA thresholds that increase by income which in 2024 are:
Individual MAGI
Couple MAGI
Part B (monthly)
Part D (monthly)
<$103,000
<$206,000
$174.70
Premiums (varies)
$103,000 – $129,000
$206,000 – $258,000
$244.60
Premium + $12.90
$129,000 – $161,000
$258,000 – $322,000
$394.40
Premium + $33.30
$161,000 – $193,000
$322,000 – $386,000
$454.20
Premium + $53.80
$193,000 to $500,000
$386,000 to $750,000
$559.00
Premium + $74.20
>$500,000
>$750,000
$594.00
Premium + $81.00
Which Tax Return does Social Security use?
The Social Security Administration will always ask, electronically, the Internal Revenue Services (IRS) for the MAGI amounts of all Medicare beneficiaries who are not receiving financial help in either October or November of the current year.
Because the tax year is not complete the IRS will use the previous year’s tax return.
The Steps of the IRMAA determination process:
Step 1: The Centers for Medicare Services (CMS) around the end of October will create the IRAA Thresholds for 2024.
Step 2: CMS will then notify the Social Security Administration (SSA) to ask the to determine who will be in IRMAA for 2024.
Step 3: The SSA will, electronically, send the Social Security Numbers (SSN) of every eligible Medicare beneficiary to the Internal Revenue Service (IRS). They will request the MAGI amounts for those who are over at least the initial IRMAA Threshold.
Reddit can appear like a wild jungle, but once you tame it, it becomes a goldmine for marketers. Whether you represent a business or trying to market a service, understanding the Reddit ecosystem is crucial. This guide dives deep into how to win Reddit.
Upvotes on Reddit determine your success. Posts without upvotes vanish quickly, leaving your effort wasted. The trick isn’t just posting—it’s getting people to upvote. So, let’s dive into mastering upvotes on Reddit.
Why Upvotes Matter
Upvotes are the currency of Reddit. The more you get, the higher your post ranks. This pushes your post to the top, giving it more exposure. However, it’s not just about begging for them. Redditors hate blatant marketing, so you need to be smooth. Focus on making your post valuable, humorous, or insightful.
Tips for Boosting Your Upvotes
Participating is crucial. Be part of the conversation by commenting, asking, and replying. Engagement leads to more upvotes on your future posts. Memes and humor often get more upvotes, so don’t hesitate to use them. Post at peak hours for maximum visibility.
Your Reddit account is your identity on the platform. Managing it correctly can make or break your marketing efforts. Here are key tips to help you manage your Reddit account like a boss.
Building Karma the Right Way
Karma isn’t just for show; it’s your credibility badge on Reddit. The higher your karma, the more respect you get in subreddits. Start by posting in smaller subreddits and working your way up. Be helpful in discussions, share valuable insights, and steer clear of spam. Eventually, you’ll accumulate karma that opens more opportunities.
Avoiding the Ban Hammer
Reddit has no tolerance for spammers or marketers trying too hard. If you push too hard, you’ll get banned faster than you can say ‘upvote’. Don’t go posting links straight away, earn some trust first. Participate in the subreddit genuinely before promoting anything. If you’re flagged as spam, your posts will be removed, and your account could be shadowbanned.
The Perfect Subreddit Strategy
Choosing the right subreddit is everything. Post in an off-topic subreddit, and you’ll either get downvoted or ignored. Look for communities where your ideal customers spend time. Check out niche subreddits that fit your market. Smaller subreddits often offer more intimate engagement than larger ones.
Creating Reddit-Friendly Content
Not all content flies on Reddit. If it’s too salesy, it’s going to get downvoted into oblivion. Content should be useful, funny, or thought-provoking. Think of using articles, memes, discussions, or infographics—these usually do well. And always make sure it fits the subreddit’s vibe and rules.
How to Use Reddit Ads Effectively
Reddit ads don’t get as much attention as Facebook or Google Ads, but they’re powerful if you know how to use them. Targeting is crucial—don’t just throw ads everywhere. Leverage Reddit’s ad tools to focus on relevant subreddits. Also, make your ads look like regular Reddit content. If your ad feels like part of the subreddit, people are more likely to engage.
Wrapping it Up: Mastering Reddit Marketing
{Reddit marketing is no joke, but when you get it right, the rewards are worth the grind. Focus on Building relationships, managing your account well, and respecting the Community. And remember, Redditors can spot a fake from miles away, so keep it real.
