In this week’s Hidden Wealth Review, I teach that, regardless of which Democratic candidate’s tax plan you look at, there’s no debate about a future higher tax rate. After 25 years of having a front row seat to see the unnecessary taxes that people are paying, we’ve done something about it. We have brought in an entire tax strategy solutions team to work with our team. We are now saving clients an enormous amount of tax!
Currently, we have candidates calling for all kinds of different tax proposals. In the debates we see the Democratic candidates arguing with one another about who’s not being honest with the American people about the cost of their social programs and how you and I are going to get stuck with paying for them. By one estimate, Senator Elizabeth Warren’s Medicare for All proposal will cost in excess of $52 trillion over the next 10 years.
I’m thinking about a client we met with just this week. They had an unusually large income this past year due to the buyout of his business. The way our tax system works, the last dollars you earn are taxed at your highest marginal tax rate. Even still, the current highest tax rate is still the lowest high tax rate we’ve seen in our tax system. But that could change, based on the outcome of next year’s election.
The client with the larger-than-normal income for this year told me that his highest marginal tax rate this year would be 37%. As a result, he will save $37,000 for every $100,000 he doesn’t have in that bracket. In just this year alone, we’re saving him over $100,000 in tax!
If you’ve sold a highly appreciated asset this year such as a business or real estate or if you need to eliminate your Required Minimum Distributions (RMDs), we can help. By getting rid of your RMDs, you can avoid having 85% of your Social Security income taxed. You’ll also sidestep the premium penalties on Medicare Parts B and D. By properly structuring your taxes in a strategic way, you can save tens of thousands of dollars in unnecessary taxes.
Taxes saved is a predictable return on your money, through the return of your taxes. Position yourself now to insulate your income from the IRS and to remove Uncle Sam from your retirement.
For those who are serious about saving taxes for 2019 or beginning to plan their tax-savings strategy for 2020, we’ve created a simple process for you to request our help. Simply go to TaxesSaved.com, enter the required information and submit the form to see if you qualify for our complimentary tax-savings analysis. But you must hurry, the time for saving tax in 2019 has just about passed. Just for submitting your information and requesting an analysis, you’ll receive a couple of great articles on why increasing taxes on the rich will slow the economy and harm most Americans.
You’ve worked hard for your money. Learn how to keep more of your money for yourself and give less to Uncle Sam. Let us teach you how to legally, ethically and morally pay the least amount of tax possible before taxes rise to unbelievable levels.
We are excited to announce our latest press release. Great things are happening at The Hidden Wealth Solution! Click here to read the full release.
Here’s to your Hidden Wealth,