In this week’s Hidden Wealth Review, I teach that you can avoid the IRS’s triple tax trap. I continue to meet with clients who are totally caught off guard by the IRS Triple Tax Trap. I just met with a retiring couple this week who are selling some property. This sale would have triggered these tax traps but we taught them how they can legally avoid all three tax traps. I use the acronym IRS to explain the triple tax traps:
Income TAX. With 10,000 people retiring every day, the ISR is desperate to collect every dime it can.
Required Distribution TAX. At age 70.5, you can no longer defer the taxes on your 401(k) or IRA. You are forced to take distributions so the IRS can collect their tax.
Social Security TAX. This tax torpedo sneaks up on a lot of people. Often, required distributions can expose up to 85% of your Social Security to income taxes. The torpedo-like damage occurs when higher income pushes up your Medicare Parts B & D premiums. This increase can be as much as $300 a month!
The good news is that the IRS triple tax trap can be avoided! We just completed an annual review for a client couple. We were able to get their money completely tax-free for their retirement. We were also able to get their money market-loss free. Now, their money only participates when the market goes up. When the market goes down, their principal and gains are protected from market loss.
Over these last five years, they have averaged over 10.3%! They have paid zero tax on the growth of their money, zero tax on the use of the their money, there’s been on tax on their Social Security income and they have taken zero market risk. Plus, there are no Required Minimum Distributions and they have successfully avoided paying higher Medicare Parts B and D premiums.
I want to teach you what some people have called the “hidden” retirement secret that the ultra-wealthy have been using for years. This coming Tuesday, I will be teaching my Wealth Protection webinar. This no-cost, no-obligation educational webinar will teach you how to avoid the triple IRS tax trap.
Don’t set yourself up to pay more tax in retirement than you did in your highest wage-earning years. You can have a better plan than the one the IRS has for you. We can teach you how you can achieve a zero tax bracket for your retirement. Regardless if you are just getting to retirement or you want to improve getting through retirement, you can save taxes!
To register, go to www.RetirementProtected.com, enter the required information and submit your registration. Once you’ve registered, you’ll receive an email containing a personal link to join Tuesday’s event.
I encourage you to register now because these events fill quickly. Just for registering and attending, I will gift you an e-copy of my book, The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
NOTE: This is a log-on and learn webinar, not a live workshop. You will need a laptop or PC to join. It is strongly suggested that you NOT use an iPad or hand held device for this event. Our proven retirement and financial solutions are best for; people positioning themselves for retirement or who want to navigate better to or through their retirement. People who have saved $200,000 or more for retirement. People who are wanting to determine if they are maximizing and optimizing their retirement planning. Boomers who want to pay the least amount of taxes on income, reduce or eliminate tax on their Social Security and create a sustainable, increasing, lifetime income for both spouses.
-Spouses are encouraged to attend this event together-
Or Call
(855) No Tax 2 U
(855) 668-2928
Here’s to your Hidden Wealth,
Chuck Oliver
Best-Selling Author