Have You Heard About the 10 Times Tax Deduction?

In this week’s Hidden Wealth Reviews, I teach about the 10 times tax deduction. After touching on this topic last week, we had a lot of responses from people who wanted to know more about this, especially those that ended up over-paying on their taxes this year. This particular deduction has been in our tax code for decades. We “discovered” this little-known deduction along with our Tax Team. This is a viable income tax deduction that can be used to offset the tax cost of moving traditional IRAs to Roth IRAs, eliminating taxes on the sale of real estate, as well as eliminating taxes on earned income. The goal is to use the least amount of capital to create the greatest amount of deduction in the shortest period of time.

When you defer taxes (IRAs, 401(k)s) you also defer the tax calculation. The longer we defer our taxes, the more we grow Uncle Sam’s cut. The government loves it when we defer because, the more you defer, the closer you become to having the perfect taxpayer plan! The government’s best money managers are high-income earners and strong savers in tax deferred retirement plans.

Sadly, the bigger you grow your retirement account, the more you grow the government’s tax account. This is why we refer to deferred-tax retirement savings accounts as ticking tax time bombs. I want to teach you how to legally get your income and your assets out of the tax system!

Suppose you pay $20,000 a year in taxes for 30 years while you’re working.  What would that be worth if you didn’t have to pay taxes? In 30 years with $20,000, growing at 10%, you could have had over $3.6 million dollars! This is the lost opportunity cost of taxes.  

We recently had a client use $100,000 of idle money to create a $1,000,000 income tax deduction. He was able to do this because he used our 10 times tax deduction formula. This deduction allowed him to free $1,000,000 of money that was trapped inside of he and his wife’s IRAs. Using what we taught him, he was able to offset the $1,000,000 of IRA income with the 10 times tax deduction. Their money is now in a Roth IRA, where it is safe from the government’s tax system. This is how the 10 times tax deduction works.

It was critical for them to do this now, before the Tax Cuts and Jobs Act (TCJA) expires. When the TCJA expires, tax rates will increase while the standard deduction gets cut in half. Right now, the tax sale is on!

This coming Tuesday, at my Tax Protecting Your Retirement webinar, I will be teaching you about tax deductions. I will also teach you how this deduction can be used to offset capital gains taxes on the sale of appreciated assets, such as real estate or the sale of a business.

Learn More About The 10 Times Tax Deduction

We have many people come to us as they prepare to enter the “decumulation” phase of retirement. This happens when you begin to withdraw the retirement savings that you amassed in the accumulation phase, plan your income from IRAs, current or future personal or inherited Required Minimum Distributions, Social Security income and Medicare. This is also the time when many people are looking at Roth conversions. It’s critical to have a decumulation plan because, in the decumulation phase, you will need to address different issues than those you had in the accumulation phase. Detailed, thought out planning is critical in the decumulation phase transition. The earlier you start this process, the better. Many decisions impact different outcomes. All decumulation planning results in cause and effect. This is not a recommended DIY (Do It Yourself) exercise. There are constant rule changes and more tax proposals then one person could possibly keep up with knowing how to best navigate.

Learn how to legally pay the least amount of tax necessary, how to have income that exceeds inflation and how to live more and leave more. Go to RetirementProtected.com and register for Tuesday’s no-cost, no-obligation financial educational event.

For those who are invested or interested in real estate, we have a proprietary real estate fund to which our clients have access. This fund allows for a substantial deduction each year that you divest a property into the fund. This offsets the taxes on the sale of the fund and positions you for a tax-advantaged income that’s greater than the income that would come from managing the individual properties, without the hassles and the headaches.

Whether you’re an investor, a high-income earner or someone who’s done an amazing job of being the perfect government taxpayer (saving a lot in 401(k)s and IRAs), we can help you become a low-tax or no-tax retiree. Learn how to eliminate taxes from your life!

I recently received a phone call from a client, thanking me because he paid no taxes this past year! Let me teach you how you can do the same. Register for Tuesday’s log on and learn event now by following these four simple steps:

1. Go to www.RetirementProtected.com (or scroll down to the form below).
2. Select the webinar date/time you prefer.
3. Enter your information thoroughly – make sure to double check your email address.
4. Click “Reserve My Spot!” to submit, that’s it!

Once you’ve registered, you’ll receive an email containing a personal access link to join Tuesday’s event. Don’t forget to add it to your calendar!

Imagine, more financial success, less stress and less worry. Learn how you can benefit from the 10 times tax deduction!

Note: We serve Boomers and Retirees all over the Unites States. We have an efficient, supported process to meet online, as have been doing for over 20 years. Our online meetings are private, the access is restricted and we never share our meeting link with anyone who’s not a part of the meeting.

Chuck Oliver
Wealth Strategist | Best-Selling Author
We help Baby Boomers and Retirees thrive in retirement through a clear retirement road map that provides market correction and tax protection to optimize income and assets!
www.TheHiddenWealthSolution.com