In this week’s Hidden Wealth Review, I teach that you are about to become a participant in one of the greatest tax grabs in our country’s history. I want to teach you how to get your retirement accounts such as 401(k)s and IRAs out of the government’s tax grab.
There are two major areas of concern. Firstly, Washington is talking about cutting the corporate tax rate. Under the reconciliation rules, when taxes are cut in one area, they must be increased in another area, so that overall revenue is not affected. The proposed corporate tax cuts equal $1.1 trillion! To make up for this, they will impose a 15% tax on the annual growth of the funds in your 401(k). This tax would apply regardless if you’re taking distributions from that account or not.
In a cover story a few years back, TIME Magazine wrote that it’s time to retire the 401(k), calling these accounts a “rotten repository.” I want to help you by showing how to get your money out of your 401(k) and get the tax out of the way!
The second area you need to be concerned about is your IRA. The tax on these accounts can sometimes be deferred as much as 30 years or more. When we reach retirement age, we’re only forced to withdraw a minimum amount once we’ve reached age 70.5. There are many people who leave their money in their IRA and then that account passes to their children when they die.
Here’s where the second tax grab happens. When a non-spouse inherits an IRA, they are forced to liquidate that IRAwithin five years. That translates to the federal government likely siphoning off 50 to 60 cents of every dollar in that IRA for taxes!
I want to teach you how to avoid these unprecedented tax grabs. This coming Tuesday, I’ll be teaching my Tax Freedom Webinar. This no-cost, no-obligation educational event will teach you how to get the IRS out of your retirement. Whether you have IRAs or 401(k)s, whether you’re retired or not, I can teach you how to save tax with a track record of proven results!
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.
-Spouses are encouraged to attend this event together-
When you register and attend the webinar, you’ll receive an e-copy of my latest book, The Baby Boomer Retirement Breakthrough. This book teaches you the top five retirement risks and the unique solutions you can use to avoid them.
(855) No Tax 2 U
Here’s to your Hidden Wealth,