How to Save or Prevent Unnecessary Taxes

In this week’s Hidden Wealth Reviews, I teach what you can do to retire your taxes and lower your tax bill. Whether you’re trying to get to retirement or better through retirement, I want to talk to you about proven strategies with track records of measurable results. Focusing on these strategies will allow you to discover and uncover your hidden wealth in the area of taxes.

Many people have reached out to us recently and the number one request is, “How do I save or prevent taxes?” First and foremost is not being short-sighted in your view. Saving tax today using a tax-deferred savings vehicle such as an IRA or 401(k) is not really saving taxes, it’s only deferring taxes. When you defer taxes, you also defer the tax calculation. Even if tax rates somehow magically don’t increase in the future, our taxes will go up based on a higher cost of living due to inflation.

If most of your income comes from traditional IRA, 401(k) or other deferred tax type accounts, you need to withdraw a higher amount to account for higher costs. As a result of these increased distributions, your taxes go higher, too. Many people who are already experiencing this higher tax trap are reaching out to learn how they can reduce their taxable income during retirement in order to preserve their savings and maintain their lifestyle.

How much more will deferring tax and the tax calculation cost you when you consider this runaway inflation and the higher taxes that come along with all of the recent government spending (plus the addition of Biden’s $739 billion spending bill)? The so called Inflation Reduction Act includes over $300 billion in new taxes in an effort to pay for all of this new spending. Incidentally, the bill funds 87,000 new IRS agents to go out and find more taxes.

Many people are beginning to realize that the writing’s on the wall when it comes to their taxes. While the topic of saving tax may be taboo when speaking to tax professionals or financial planners, remember that time is not on your side. Tax rates for all the brackets are going up in just a few short years and deferred taxes equal increased taxes.

LEARN HOW TO AVOID A TAX TIME BOMB RETIREMENT!

This coming Tuesday at my Wealth Protection Webinar, I will teach these strategies and more. Imagine, more financial success, less stress, less worry and even better – less tax!

To register for Tuesday’s 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!

This misguided administration’s plans are targeting corporations with higher taxes, claiming this will result in taming inflation. The result will be weaker market returns and increased taxes on higher income earners and strong savers in 401ks and IRAs. These are the people who will benefit the most from our proven solutions. Solutions with a track record of measurable results.

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