A New Year, A New Tax World!

In this week’s Hidden Wealth Review, I welcome you to a new year and what looks to be a new tax world. The $900 billion coronavirus bill along with the $1.4 trillion omnibus spending bill that Congress just passed and President Trump reluctantly signed is, at nearly 6,000 pages, said to be the largest single piece of legislation Congress has ever passed.

Although lengthy and full of unnecessary spending, the bill contained less pork than Speaker Pelosi was trying to pound into it eight months ago. We are all for getting people fed, clothed, housed and back to work however, someone is going to have to pay for this stimulus along with all of the non-essentials the bill contains. President Trump said it best when he commented that the bill supports more outside interests than it supports the American people (which is the purpose of the bill).

Please click here to view the details of what’s in the bill and what it means to taxpayers.

Avoid getting Biden tax blindsided. President Elect Biden was quoted as saying that this bill is a good first down payment, indicating that he plans to add even more stimulus. President Elect Biden also announced this week, free community college tuition for all and free state college tuition for certain income levels.

Remember, it’s never too early and it’s never too late to get a head start on getting retirement tax smart. Taxes were already headed up before the pandemic began. Now, with all of stimulus and the deficit spending, they’re heading up faster. I want to teach you that you can increase your retirement income by 50% or more! You primarily do this by eliminating unnecessary taxes. All of these unnecessary taxes are lost to what I call the Government Gotcha’s. These Gotcha’s are costing Baby Boomers and retirees anywhere from $6,000 to more than $24,000 per year in unnecessary taxes!

This Tuesday, I’ll be teaching an introduction to the higher tax reality that’s coming. I’ll also be teaching about the key things that the ultra-wealthy know about saving taxes that you and I can apply. For over two decades, we have been helping Baby Boomers and retirees to thrive in retirement by teaching the importance of the retirement key three: asset optimization, income maximization and tax elimination. In my experience, it’s easier to prevent these things than it is to undo them after they’ve happened.

Here are some of the common Government Gotcha’s tax traps:

• Having 50% to 85% of your Social Security taxed
• The lifetime tax effect of your pension election
• Medicare Parts B & D premium surcharges
• IRA distributions pushing you into a higher tax bracket
• Nonstrategic Roth conversions

At The Hidden Wealth Solution, we’ve saved clients hundreds of thousands of dollars in unnecessary taxes, putting real money back in their pockets. That’s why I say, it’s never too early or never too late to get a head start on getting retirement tax smart.

How Can You Get Tax Smart In A New Tax World?

This coming Tuesday, at my Wealth Protection Webinar, I’ll be teaching how you can have upside market gains with no downside losses and how to eliminate taxes. You will also learn how to avoid, reduce or eliminate taxes on Social Security and Required Minimum Distributions. Simply go to RetirementProtected.com (or scroll down to the form below) and register for this no-cost, no obligation, log on and learn educational event. 

I will also teach how you can avoid passing an inheritance tax to your children. Learn how to get Uncle Sam out of your IRAs, out of your children’s and grandchildren’s inheritance and how to insulate your retirement income from the IRS.

You’ve worked hard for your money. Imagine, less stress, less worry, more financial success and more time with family. Let’s get to work to make sure you keep more of your money! Learn how to avoid risk, optimize your assets, maximize your income and eliminate taxes.

Our proven solutions have a track record of measurable results. These solutions best support those who have saved $500,000 or more or those who have a net worth of $1 million or more.

To register, 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.
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!

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