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lower tax in 2022
In this week’s Hidden Wealth Reviews, I teach what you can do to lower your tax in 2022. It all really comes down to what I write about in my books and what I teach each weekend on Hidden Wealth Radio:
- Tax Me Now
- Tax Me Later
- Tax Me Never
This coming Tuesday, at my Wealth Protection Webinar, I will be teaching how you un-tax what’s going to tax you more later and how you do this in the most tax efficient way possible. One strategy I’ll be teaching on Tuesday allows (for those who qualify) up to a 100% income tax deduction that can be used to offset the cost of getting your traditional IRAs untaxed by moving them to Roth IRAs.
Click Here to learn how Sam, a client from Illinois, discovered the burden of his "tax me now" accounts and “tax me later accounts”.
We met with Sam, who is in his sixties, just this past week. He was concerned about his tax me now stock brokerage accounts. These accounts were creating unwanted short and long-term capital gains. Amazingly, Sam was being forced to pay tax on money he never even took out of his account! Unfortunately, we have seen this happen on too many occasions. This is how tax me now accounts work.
A tax me later account is where the government leads you to believe that you are going to save money by deferring those taxes until you retire. Deferred taxes equal increased taxes! Whether you take a voluntary distribution from your account or whether you are forced to take a Required Minimum Distribution (RMD), you’ll quickly discover that a big chunk of the money you take from this account goes to Uncle Sam.
The amount of money from your distribution that goes to the government in the form of taxes forces you to take a bigger gross distribution in order to get a higher net amount of money. A higher distribution can push you into a higher marginal tax bracket, which causes you to pay even more tax!
The cost of living has dramatically increased over the last year (almost 8%). As a result, people are paying a lot more tax, netting a lot less income and becoming very frustrated as a result. The good news is that this doesn’t have to happen.
The last type of account is a tax me never account. This is when you take newly Roth converted savings and “new savings” (i.e., cash, cash flow, sale of assets such as real estate or a business, an inheritance, etc.) and place it into an account that has only upside, double digit market gain potential with no downside market loss exposure. This type of account is sometimes referred to as a Roth alternative account. In this type of account, you grow your money without tax, without capital gains or state or federal income tax. You can use your money tax-free and transfer it to your heirs, tax-free.
As Sam said, “I really don’t want my kids burdened by being left with an unnecessary tax bill.” At Tuesday’s Wealth Protection Webinar, I’ll teach you how to set up a tax me never account so that your money will never get taxed again!
Learn WHAT YOU CAN DO TO LOWER TAX IN 2022!
Let me teach you what you can do to be a low-tax or a no-tax retiree. Imagine, more financial success, less worry. less tax and more protection. To learn how, go to www.RetirementProtected.com and register for this coming Tuesday’s webinar.
To register for Tuesday’s no-cost, no-obligation, log on and learn financial educational event, simply follow these four simple steps:
- Go to www.RetirementProtected.com (or scroll down to the form below).
- Select the webinar date/time you prefer.
- Enter your information thoroughly – make sure to double check your email address.
- 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.
Spouses and Significant Others are Encouraged to Attend This Event Together
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