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saving tax

In this week’s Hidden Wealth Reviews, I share that the timeliness to save taxes is right now. Taxes are on sale but they may not be on sale much longer. The number one thing that Baby Boomers and retirees can do right now to protect their money is to get their serious savings tax protected.

The economic uncertainty seems to only get worse and this misguided administration is only deepening the problem. The Washington Post claims the Ukrainian refugee crisis is the largest of this century. The markets are shifting violently as a result of all of the turmoil surrounding this conflict. We have had a number of people contact us asking how they can best protect their money.

The number one thing that you can do, the one thing that’s most under your control, is taking advantage of the tax rates that are now on sale in order to protect your income, savings and legacy. But you need to hurry and take advantage of this sale before it ends as early as this year. This week’s State of the Union address made it clear that the Build Back Better bill is back. This outrageously ambitious agenda is pushing for another almost $2 trillion in spending. This can only add to higher taxes (across the board) in the near future.

Some on the left are now pushing for abolishing the Tax Cut and Jobs Act (TCJA) as early as this year. As of now, the TCJA will expire at the end of 2025, which is just a few short years away. One way or the other, there isn’t much tax sale time remaining.

The one thing you can control are your taxes. The best exercise of this control is to take advantage of the current sale on taxes with proven savings techniques. This may well be the last chance that many of us will have to see taxes this low. That’s why it is best to act now, before tax rates rise and higher brackets return to their pre-TCJA levels. See the chart below showing the savings that a married couple, filing jointly, enjoy under the current TCJA tax sale.

Married Joint 2017 2018

Future tax increases are coming. Inflation and deficit spending will only cause them to go even higher! This will make your Roth conversions more expensive and your Required Minimum Distributions (RMDs) will trigger higher taxes. Deferring taxes equals increased taxes and even more tax with higher inflation.

When you increase the amount money you withdraw from your retirement account(s) to cover the higher cost of living, your taxes increase. That’s why the best defense to inflation is mitigating taxation. The longer you wait, the higher tax you will pay.

The harsh reality is that whatever your current IRA/401(k) balances are, it could cost you two to four times your current IRA/401(k) balance in taxes (at the current tax rates). For example, $1 million saved in IRAs for someone in their early sixties can have a tax cost of as much as $4 million at the current tax rates, based on living to age 90. Clients in their eighties are finding themselves in the 32% tax bracket!

Click Here to learn how a client couple from Colorado was able to take advantage of the sale on taxes.

Our client couple are married and both are in their late sixties. They were concerned about RMDs and what the impact of those withdrawals was gong to be. In a few short years, their RMDs were going to force them to pay more taxes in retirement than they did in their highest wage-earning years! Ironically, these clients do not even need the money from their RMDs.

Despite the JCJA tax sale, Joe Biden’s Build Back Better bill is pushing yet another $2 trillion in deficit spending (which will force taxes even higher). It will also wreak havoc by accelerating inflation. This means that many retirees will have to increase the amount of their distributions in order to net the higher amount they need to pay for the increased price of goods and services.

Remember, if you jump tax brackets up by three percent or four percent, the standard deduction gets cut in half! Because of this, many people will pay an extra $6,000 to $12,000 a year in unnecessary taxes!

Using strategies that I will be teaching at my Wealth Protection Webinar this Tuesday, our couple from Colorado were able to get their IRAs out of the tax system without having to pay the money from their own pockets. They eliminated the IRS and RMDs from their their retirement, consequently saving thousands of dollars in unnecessary taxes! You can learn to do the same.

Learn More About The Saving Tax Sale Ending Soon!

This Tuesday, at my Wealth Protection Webinar, I will teach you how to get your money untaxed and how to protect it from being taxed when you pass it on to your children. The time to learn what you can do is in 2022.

Learn solutions with a track record of proven performance that eliminate the risk of taxes, inflation and market losses. Let’s get to work! Don’t let another global economic disaster reduce or even ruin your retirement. Now’s the time to reinvent your retirement!

To register for Tuesday’s no-cost, no-obligation, log on and learn financial educational 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 high 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.

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