Tag Archives: SSA

BREAK IN: Confusing Tax Due Dates – Q1 2021 ES Payments Due Next Week – A Few Clean Up Corrections … You Guys are Tough … Masters Weekend … Friday

BREAK IN – Q1 2021 ES Tax Payments are Due Next Week

Oh boy, let the confusion begin … Just when you thought the tax due dates could not get more confusing… The following hit my inbox this week!

What this means is that Quarterly Q 1 ES 2021 (Income, interest, wages – anything you need to make a tax payment for) are due Next Thursday!

So, if you are scheduled to make ES payments for one reason or another, while Fed and State returns have been delayed, that ES Payment is still due next week!

As a reminder, use the mail at your own risk, we STRONGLY suggest you upload a payment at this IRS website https://www.irs.gov/payments!

Now back to our regular scheduled funny Friday Post!

Thanks so much for reading our posts…. we really do work hard on them…

Confession time for those who may have glanced over the father’s name of the Beverly Hillbillies in our Mineral Reminder Post… Jed, not Jud…. thanks to the MANY and counting who happily pointed out my mistake, you were really paying attention and also took time to humorously rib me – Well Done to you all!

I now know how to get a rise from you guys!

Secondly and more importantly, one of the links to the Social Security Website in our Social Security Post had a typo sending you to the Military service not Social Security… oops…

www.ssa.gov is the correct site.

It has been corrected in the post, but in order for you to receive it in your inbox/phone/device, I wanted to repeat here!

Ahh… Today is a Friday, heading into a Masters Weekend… ya ya the whole family are Tennis Players, but Golf Scholarships help get this one through College!

Enjoy your early Spring, Masters Friday and Weekend!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



Social Security COLA 1.3% Increase … Better than NO Increase!

Ok, so everyone maybe wanted more…. but given the circumstances any increase is likely a gift!

About one week ago the news broke from the Social Security Administration….

Social Security COLA Increase Announcement

Here at this link, the Social Security Administration announced a COLA (Cost of Living Adjustment) of 1.3% for 2021!

Approximately 70 million Americans will see a 1.3 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2021. Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W).

They go on to explain the increase in more detail!

The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are a little more expensive, so the cost-of-living adjustment (COLA) helps to offset these costs.

There you have it, an increase of 1.3% for 2021! Much better than nothing!

Have a Great “Social Security COLA Increase” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.



Calling all Questions for Our Social Security Specialist – Saturday April 27 at 10:00 am at Dallas Athletic Club – Friday

Here are our questions so far- but we want more – keep them coming!

  1. Last time we spoke you were VERY certain Social Security would be there for all of us upon retirement – With all of the changes, do you still feel this way?
  2. Can you explain the divorced verses divorced and remarried benefits?
  3. Have you ever heard of someone being offered a lump sum of retroactive Social Security benefits?
  4. November of 2015 ushered in new laws and changes, are there any neat techniques that survived?
  5. Can you explain non US citizen spousal benefits?
  6. We have been told many of the benefit statements are not always accurate, understating the actual eventual benefit, has this been your experience?
  7. How much can I earn and not receive penalties if I retire before my full retirement age?
  8. The Full Retirement Age keeps being pushed out, will this continue? Is there a schedule?
  9. How long do I have to report my Social Security earnings if they were not reported by an employer?
  10. For many years I did not draw on an ex spouses earnings by accident – using only my earnings benefit, can I request some sort of look back to get my full benefits?
  11. If want to change my Social Security election decision after I made it and have been drawing benefits, Can I do that?
  12. Do I have to take Social Security Benefits ? What if I do not want to?

Send questions to jen@jkfinancialinc.com – We welcome any and all!

Here is the invitation – We hope you can come !


3-20-19 - Invitatation to SS Info Event with Tom Clark_Page_1


Here is Tom Clark’s Bio and mug shot – SUPER nice guy!


3-20-19 - Invitatation to SS Info Event with Tom Clark_Page_2

Have a Great “Send us your Social Security Questions” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

IRMAA Letter, Worse than a “Dear John”, but WE have Solutions!

Last week we discussed the coming big article in our Q1 2018 Newsletter concerning the new Medicare Tiers and Means Testing. In that article we discuss the income levels that will trigger higher premiums.

If you have been targeted of higher means, you will receive an IRMAA letter! You have been IRMAATized

IRMAA Letter

Short for Income Related Monthly Adjustment Amount –

Definition – You have been Mean’s Tested and the Social Security Administration (SSA) is asking you to pay more for Medicare Premiums.


The SSA is likely looking at your income from two years ago.

Good News- There is a solution if this is an unusual income amount or you have had a life changing event. This SSA Form 44 from the SSA is what you will need.

Life Changing Events According to SSA:

  • Marriage
  • Divorce/Annulment
  • Death of Your Spouse
  • Work Stoppage
  • Work Reduction
  • Loss of Income-Producing Property
  • Loss of Pension Income
  • Employer Settlement Payment

There are literally check boxes with these subjects in it. Of course life has curve balls that may not allow you to “Check the Box” … We have had continued success with folks going to the SSA office and presenting their case directly to the agent.

We would suggest the timely but productive visit if there is anything out of the ordinary with your proving of “Life Changing Event”!

Bring Proof

“ I understand that signing this form does not constitute a request for SSA to use a more recent tax year information unless it is accompanied by:

  • Evidence that I have had the life-changing event indicated on this form;
  • A copy of my Federal tax return; or
  • Other evidence of the more recent tax year’s modified adjusted gross income”

This information is stated just before a signature section on the SSA Form. Heed the warning and bring whatever proof in order to speed processing.

There you have it … many more options to correct the situation than a “Dear John” letter!

Have a Great “Non IRMAATized” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.