Please Click the Video to Watch This Important, Short Message
Annual Tax
In this week’s Hidden Wealth Review, I teach how to avoid the Biden extra $2,600 annual tax. Right now, the average American family is spending an additional $175 per month due to higher inflation. This translates into an extra $2,100 annually. However, if you’re earning income or using money from your IRA to cover these extra costs, you will likely need to earn or withdraw $2,600 in order to net the extra $2,100. This week the report for U.S. wholesale prices rose sharply in September for the ninth month in a row, signaling the highest bout of U.S. inflation in 30 years. The cost to live is only becoming more expensive!
The Biden administration wants higher taxes from several targets:
- Income Tax
- Investment Tax
- Inheritance Tax
- Corporate Tax
- Capital Gains Tax
This coming Tuesday, at my Wealth Protection and Preservation Webinar, I will teach a number of concepts that we have taught to our Baby Boomer and retiree clients. If you have saved considerable amounts of money in tax-deferred accounts such as 401(k)s, IRAs, 457s, etc., and/or you have a high taxable income, you are the government’s main tax target. Beware, the Washington Spendocrats are just getting their spending spree started!
Click Here to learn how clients have used the Hidden Wealth concepts I will teach on Tuesday to safeguard their retirement savings.
Using one strategy, two clients couples were able to convert $1 million of their traditional IRAs to Roth IRAs. They used a little-known tax deduction to cover the tax that would have been due on their Roth conversions. This resulted in them having zero out-of-pocket Roth conversion tax.
This allowed them to have a lower balance in their traditional IRA account. One of these couples was facing a Required Minimum Distribution (RMD) starting next year. Using another concept I will teach on Tuesday, the husband was able to transfer his 457 account, tax-free, to his wife, who is 10 years his junior, which eliminated his RMD entirely! She won’t have any RMDs on this account for almost 12 years. Now, by employing the first strategy, they will have time to be able to use the tax deduction to offset the remainder of their tax-deferred money to a Roth IRA.
Using what we taught them, they have insulated their retirement income from the IRS, protected their inheritance from being hijacked by Uncle Sam and they have stayed way ahead of the current round of higher inflation. When you eliminate unnecessary taxes from your financial equation, you have the means to get through periods of higher inflation.
LEARN HOW TO AVOID BIDEN’S $2,600 EXTRA ANNUAL TAX!
The Social Security Administration is touting the rumor of the biggest income increase since 1982. However, this increase amounts to an average of an extra $92 a month. This increase is all inflation driven. Sure, you’re getting $92 a month more, but it’s costing you an extra $175 a month to live! This Social Security “increase” is nothing more than smoke and mirrors. On top of that, 50% to 85% of Social Security income can be taxable!
Taxes and inflation can be a huge burden at any point in life but, in retirement, they can be even more stressful. Gear up for these tax threats so you’re not thrown for a loop while you’re trying to enjoy your retirement years. If you prepare for taxes on Social Security benefits, IRAs and RMDs, you can take steps to avoid those added costs rather than have them wreck your retirement.
You’ve worked hard for your money! Learn how to create tax-free income sources. Imagine, getting your money un-taxed, keeping it un-taxed, transfering it without tax and doing all of this with less risk and less cost. The time to get this done is before the end of 2021. Let’s get to work.
To register for Tuesday’s no-cost, no-obligation, log on and learn financial educational event, simply follow these four simple steps:
- Go to www.RetirementProtected.com (or scroll down to the form below).
- Select the webinar date/time you prefer.
- Enter your information thoroughly – make sure to double check your email address.
- 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!
Joe Biden’s tax plans are targeting high income earners, those with large capital gains as well as those with estates valued over $3.5 million. We find those higher income earners of $200,000 or more or those who have saved $1 million or more benefit the most from our proven solutions with a track record of measurable results.
Register for your preferred webinar time now because these events have proven to fill up fast.
Those who attend this event will receive a complimentary copy of my latest eBook:
The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
Spouses and Significant Others are Encouraged to Attend This Event Together
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