How to Not Owe Uncle Sam Big Time!

by | Hidden Wealth Reviews

Please Click the Video to Watch This Important, Short Message 

In this week’s Hidden Wealth Reviews, I teach how to not owe Uncle Sam big time. If you are committed to saving taxes and you want to learn how much lower your taxes can be, still in 2023, please read this message. If you’re a few years away from retirement, a few decades away or already in retirement and you’re deeply concerned about taxes, you may have already recognized that taxes don’t necessarily go down during retirement.

Many people are told or they think that they are going to retire into a lower tax bracket. The common wisdom, even in the financial services industry, is that your taxes will go down when you retire. Beware, if you have saved most of your retirement money in ticking tax time bomb accounts such as 401(k)s and IRAs, you have an IOU to the IRS and the same for your family that will inherit your IRAs!

When the Tax Cuts and Jobs Act (TCJA) expires, the standard tax deduction will be cut almost in half! This year, the standard deduction for joint filers is almost $28,000. Next year, the standard deduction increases to over $29,000. When the standard deduction is cut it will add another $14,000 in higher income which will then be taxed.

Click Here to learn how our clients, Mike and Christy, were able to un-tax their retirement, use an 80% deduction to save taxes and earn a solid rate of return.

We recently met with Mike and Christy. They were concerned about getting out in front of their retirement taxes. They are only a few years away from having to take Required Minimum Distributions (RMDs) from their IRAs. These government forced distributions were going to heavily impact their taxes. They were interested in taking advantage of Roth conversions in order to save retirement taxes.

A recent article in Forbes emphasizes that now is the time to convert your traditional IRAs to Roth IRAs. The article points out that everyone will automatically be pushed into higher taxes when the TCJA expires. With our national deficit at almost $34 trillion (and counting) tax rates will have to increase even more than the currently scheduled bracket increases. This is why the article emphasizes that now is the time for Roth conversions!

Mike and Christy used a little-known tax deduction that’s outside of the usual strategies that are typically employed by “big box” brokerage companies. This strategy does better during periods of high inflation and it has an 8% to 12% targeted annual return. It also has an 80% tax deduction associated with it. This deduction will lessen when the TCJA sunsets so, the deduction is at its highest right now.

Using our unique strategy and our tax team, Mike and Christy were able to convert $100,000 of their traditional IRA to a Roth IRA and pay zero taxes from their own pocket! There were of course, taxes due on the conversion but, using that little-known deduction I mentioned, they were able to offset their Roth conversion tax liability, dollar-for-dollar. This is a great example of the difference between strategic tax planning and simple tax preparation or general tax accounting.

Another client, Barbara, was able to use this same strategy to convert $300,000 of IRA money to a Roth IRA. Barbara also paid no tax on the Roth conversion because she too used that little-known tax deduction. I will be teaching this strategy and more at this Tuesday’s Tax Protecting Your Retirement webinar.

Could Your Retirement Tax Bill Be Too Big?

CLICK HERE TO FIND OUT IN 30 SECONDS

STEPS TO LEARN HOW TO NOT OWE UNCLE SAM BIG TIME

You work hard for your money. If you’re serious and committed about saving taxes and about learning how much lower your taxes can be, still in 2023, register for Tuesday’s no-cost, no-obligation financial webinar by simply 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!

Get a head start to be sure you’re being tax smart. Imagine, no more unnecessary taxes and no more owing Uncle Sam a fortune.

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