How to Avoid a Tidal Wave of Taxes!

by | Hidden Wealth Reviews

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wave of taxes

In this week’s Hidden Wealth Reviews, I teach about the tax tidal wave. The New York Times recently reported that deficit spending will go up an astonishingly $7 trillion over the next 10 years! The report shared that deficit spending has already increased $3 trillion more than was originally projected. Unfortunately, the spending just keeps on continuing.

The Biden administration will present it’s budget in a few months. It’s rumored to propose almost $5 trillion in additional taxes over the next 10 years! The Congressional Budget office forecasts that an additional $19 trillion will be added to the deficit over the next decade.

Because of this out-of-control spending, there’s only one direction for taxes to go. Unfortunately, the deficit numbers we’re talking about are going to trigger a major tidal wave of additional taxes. Don’t delay getting your tax savings plan in place.

Even though taxes are already going up, while the Tax Cuts and Jobs Act (TCJA) is still in effect, taxes are on sale. However, when the TCJA expires in 2025 or if it is killed sooner, rates will return to their pre TCJA levels. Right now, there is a real window of opportunity to take advantage of the current tax rates, higher deductions and the ability to still do Roth conversions.

Click Here to discover how two of our clients were able to pay the legally least amount of tax possible and escape the tax traps the government had set for them.

When it comes to taking advantage of this window of opportunity, I’m reminded of Paul, from Texas. He was looking for ways to pay the legally least amount of taxes possible. He was frustrated because none of the financial planners with whom he spoke would even talk to him about taxes.

Paul learned how to do a strategic Roth conversion and use the tax code to offset his Roth conversion tax. Paul has a plan in place that enables him to move his large former 401(k) into Roth IRAs, without having to pay taxes to convert from his own pocket.

We have another client, Mary, who was recently widowed. The single filer tax trap places her in a much higher tax bracket. Her tax rate jumped from 22% as a joint filer to 32% as a single filer. She discovered that she had fallen into a classic government tax trap and was now facing a tidal wave of additional taxes that she would also pass on to her children and grandchildren. Mary’s first year Required Minimum Distribution (RMD) would be nearly $250,000! Ironically, Mary doesn’t even need the money from her RMD.

Even though Mary doesn’t need the money, the government does, and they are going to find ways to continue to tax it. Mary’s added tidal wave of additional taxes will come from from Medicare and Social Security taxes on top of her federal tax. Sadly, Mary’s tax bracket jump from 22% to 32% was going to cost her thousands of additional taxes (which we prevented). The longer you wait to address your tax issues, the more tax you’re going to pay! This Tuesday, at my Wealth Protection Webinar, I will be teaching proven tax planning strategies with track records of measurable results.

The table below shows an example of how we used the tax code to remove $300,000 from the tax system. This created a $105,000 federal tax savings. These clients legally moved $400,000 from a traditional IRA to Roth IRA and used a deduction that has been around since 1913 to offset any Roth conversion taxes. As the table shows, there is a drastic difference between tax planning and tax preparation.

tax wave scaled

I will be teaching this strategy at Tuesday’s webinar. Register for this no-cost, no-obligation financial educational event by going to www.RetirementProtected.com and completing the online registration.

LEARN MORE ABOUT HOW TO AVOID A TIDAL WAVE OF TAXES!

Don’t fall victim to Congress making you think they are doing you a favor by allowing you to delay your RMD age. Be aware that this nothing more than another government tax trap. In many cases, it’s better to withdraw the money from your IRA early, use a tax mitigation strategy to reduce the taxes due on the withdrawal and then invest in a vehicle that earns tax-advantaged gains and income.

We have a solution (for those who qualify) which absorbs the tax liability from your IRA withdrawals. This allows you to not pay the taxes that are due from your own pocket. Our clients use this deduction to erase their tax liability. If you don’t like taxes today, you’re definitely not going to like them tomorrow.

You work hard for your money. Don’t let the government force you to pay unnecessary taxes! This Tuesday, I will teach you how to legally, morally and ethically pay what you owe and not a cent more. Learn how to avoid the tax tidal wave that’s coming. Register now for Tuesday’s Wealth Protection Webinar. It’s never too early and it’s never too late to get a head start on being tax smart.

To register for Tuesday’s no-cost, no-obligation event, simply follow 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!
Strong savers in 401(k)s and IRAs and high income earner are the people who will benefit the most from our proven solutions. Proven solutions with a track record of measurable results. Imagine less stress, less worry. Peace of mind retirement protection.

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.

CHuck Oliver Retirement Breakthrough

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