In this week’s Hidden Wealth Review, I teach that achieving a zero percent tax bracket in retirement starts with eliminating the IRS from your IRA. Because it’s tax time, we’ve received numerous calls from people asking how they can pay less tax. Some people have asked how they can keep the government from being the biggest beneficiary of their IRA when their adult children inherit the account.
Those of you who have saved $250,000 or more for retirement in an IRA are the federal government’s top tax target! The reason they are desperately looking for more money is the deepening deficit. Also, the Treasury Department just reported that they collected $1.2 trillion less revenue than it takes to run the government! With the new tax reform law and increased infrastructure spending, the deficit will only get bigger.
However, there are many great things about the Tax Cuts and Jobs Act of 2017 that are saving Baby Boomers and business owners thousands of dollars each month! I want to teach you how you can have a strategic tax plan, rather than a general accounting plan. It’s the difference between someone simply recording and reporting your tax history and someone giving you the ability to proactively change the future of what you will pay in taxes.
Taxes are predictable. Avoiding having to pay unnecessary taxes is just as predictable as paying them. The problem with avoiding unnecessary tax is that many people are accustomed to just following the crowd. Our clients are able to realize a tax savings of $1,000 to $2,000 per month, each and every month. They do this by simply eliminating the IRS from their IRA and 401(k) retirement accounts.
I want to teach you an introduction to becoming a tax-free retiree and achieving a zero percent tax bracket in retirement. Not zero income, but an income that has zero taxes taken from it. This prevents having up to 80% of your Social Security income taxed and having your Medicare Parts B & D premiums increased. This saves you between $1,000 to $2,000 each month and allows you to eliminate the fear of running out of money in retirement. In addition, our strategy eliminates concerns about the tax liability that your children will receive when they inherit the remainder of your IRA.
With IRAs being the top tax target, those who have saved $250,000 or more in tax-deferred accounts must act now! If you’ve not yet reached age 70½, you’ve got a good window of opportunity to get a tax plan in place that will serve to your advantage for at least the next seven years. If you’re already taking Required Minimum Distributions because you’ve reached age 70½, you can eliminate them! Let me teach you how.
This coming Tuesday, I will be teaching my Retirement Protection Webinar. During this log-on and learn event, you will discover how to avoid paying unnecessary taxes, how to eliminate RMDs and how to protect your children from inheriting an unnecessary tax burden.
To register for this no-cost, no-obligation educational event, simply go to www.RetirementProtected.com, enter the required information and submit your registration. Once you’ve registered, you’ll receive an email containing a personal link to join Tuesday’s event. These events fill quickly so hurry and register. Just for registering and attending, I will gift you an e-copy of my book, The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
-Spouses are encouraged to attend this event together-
Or Call
(855) No Tax 2 U
(855) 668-2928
Here’s to your Hidden Wealth,
Chuck Oliver
Best-Selling Author