TAXES ARE AN ENEMY,

BUT THE TAX CODE CAN BE YOUR FRIEND.

 

Do you think taxes are going to be higher or lower in the future?  

What does your current financial plan or financial advisor have in place to address rising taxes?

 

   401(K)? IRA? ROTH IRA? SIMPLE IRA? SEP IRA? OTHER ERISA PLANS?

  YES we do that.    

BUT THERE'S MORE...SO MUCH MORE!

 

 

REDUCE YOUR TAX BURDEN           

Paying more than your fair share of taxes during your accumulation years, your distribution years, or both is a killer. Remember--it's not what you make that counts; it's what you get to spend that matters.

Understanding the tax treatment of your investments and other financial tools will have a tremendous impact on the amount of money you're left with to spend during your retirement.  

We believe those who plan wisely and take advantage of the current tax code will minimize their tax drag and have a higher chance of reaching their financial goals.  Failing to familiarize yourself and incorporate appropriate tax strategies beyond the 401(k), IRA, ROTH IRA and other familiar tax strategies may result in an unnecessary tax burden both now and in the future.  

Many investors diversify between different investment classes, but fail to fully diversify the tax treatment of their investments beyond traditional planning.  A good financial plan will not only diversify between asset classes but will also maximize allowable tax treatment of your financial plan.                                                                                         

 

     What does your current financial plan or planner do to address the very real possibility of rising taxes?  

 

A 401(k), IRA or other ERISA plan only postpones paying taxes to an uncertain future tax rate. After spending decades of their working years diligently saving for retirement, many of today's retirees are now paying more taxes than they ever thought they would. The disciplined efforts of saving for the future are being eroded by taxes. Some turn to the ROTH IRA as a means of minimizing their future tax burden, but a ROTH IRA  can only help so much.  Contributions to a ROTH IRA are limited each year and many high income earners and business owners aren't allowed to participate in a  ROTH IRA because of the inherent income limits.   

 

A CLOSER LOOK At THE TAX CODE provides some relief through life          insurance as outlined in IRS code section 7702 & 7702(a):

 

Since 1954, the Internal Revenue Code has outlined ways for individuals and business owners to grow money with these benefits:

  • tax deferred growth.
  • tax free withdrawals before retirement. 
  • tax free withdrawals at retirement.
  • a supplemental, reliable source of retirement income.
  • growth WITHOUT MARKET LOSSES.
  • no income limits.
  • higher contribution limits. 
  • access to the cash values without a 10% penalty before age 59 1/2.
  • protection against the premature death of a bread winner, business owner or key employee.

 


THESE STRATEGIES ARE oFTEN OVERLOOKED or underutilized by most financial advisors.


What does your current plan or financial advisor have in place to minimize your future tax burden beyond traditional planning such as a 401(k), IRA, ROTH IRA, SIMPLE IRA?



           Tax strategies are provided for information only. WEALTHSTRATEGIES.ME DOES NOT PROVIDE legal or TAX ADVICE.            CONSULT YOUR TAX PROFESSIONAL REGARDING TAX TREATMENT OF YOUR INVESTMENTS AND FINANCIAL STRATEGIES.