As the year progresses and we get closer to the presidential election the uncertainty of more tax law changes will increase. With Congress passing the SECURE Act people are more confused now more then ever on the effects of this new legislation and how it will impact them specifically.
LAKE MARY, Fla. (PRWEB) January 30, 2020
Best selling author and top financial planner in Lake Mary, Florida, Chuck Oliver takes to the radio air waves to discuss how a thriving retirement can be obtainable despite Congress passing their latest higher tax target legislation.
On January 25th and January 26th, 2020 Chuck Oliver, owner and founder of The Hidden Wealth Solution, broadcasted his most recent retirement discussion in Orlando, FL, Tampa, FL, Jacksonville, FL, Dayton, OH and Phoenix, AZ. Oliver discussed how the SECURE Act will affect retirement savings and how Baby Boomers as well as retirees will have their retirement security tested without getting a savings tax optimization plan in place.
Oliver stated “As the year progresses and we get closer to the presidential election the uncertainty of more tax law changes will increase. With Congress passing the SECURE Act people are more confused now more then ever on the effects of this new legislation and how it will impact them specifically. Baby Boomers and retirees who have saved for years in tax deferred accounts are at much greater risk of the toxic tax changes that lie ahead. Tax season is now here. I ask all Boomers if they are happy with the taxes they have paid? It’s tough for some to wrap their head around where future tax rates will be while others are wondering if retirement will even be reduced or even reachable. In my educational message this past weekend I discussed a case study whereby using a strategic Roth conversion one of my clients could stay in the lowest tax bracket through the remainder of his life. This client is age 60 and he wanted to see how much tax he is exposed to at today’s tax rates. In this study, if tax rates didn’t go up, by the time my client reaches age 81 years old his tax bracket would jump 20% higher and eventually get to 35% because of his required minimum distributions. Using a strategic Roth conversion his tax would drop significantly saving him over 1.2 million and allow him to stay in the lowest tax bracket through the remainder of his life. It’s not too late nor too early to learn how to transform Baby boomers and Retirees taxes. The key is to understand how much tax they are currently paying and how much they will be paying compared to how much less tax they could be paying. As I watch the Democratic debates, it’s difficult to keep track of the large number of toxic taxes that lie ahead for high income and strong saving Baby Boomers and retirees. For more then a quarter of a century I personally have been educating clients on legislative changes to tax laws, marginal tax bracket management, how a 401K is not the only way, the real risks of a Roth IRA, how pensions can negatively affect retirement income, how a health savings account (HSA) can be used to reduce taxes, Social Security maximization and how to avoid over paying for Medicare and more. Many people just don’t know where to turn as new tax laws unfold. It’s just mind blowing for those who have saved for years with the end goal of enjoying their retirement and now they have to wonder if they can actually afford to retire or be able to stay retired thanks to those in Washington who want to fund their socialist programs by incorporating more taxes and being able to change the rules anytime they desire. My team and I at The Hidden Wealth Solution work with clients to help them discover their hidden wealth so they can thrive in retirement.”
To hear Oliver’s recent radio show entitled “Transform Your Taxes” in its entirety visit online at: https://thehiddenwealthsolution.com/hidden-wealth-radio/
Oliver broadcasts each weekend where he discusses retirement and taxation. In his weekly broadcast he discusses the latest changes in tax law, what lawmakers may be proposing and how retirees can maximize their savings. For those interested in following Oliver they can tune into Newsradio WFLA 93.1FM/540AM in Orlando, FL on Saturdays at 11AM EST and Sundays at 1PM EST. For those in Jacksonville, FL they can tune in to News 104.5 WOKV on Sundays at 11AM EST, in Tampa, FL on Newsradio 970AM WFLA on Sundays at 11AM EST. Oliver can also be heard in Dayton, OH on WHIO Newstalk Radio 95.7FM/AM1290 on Sundays at 9AM EST and in Phoenix, AZ on Newstalk 550KFYI on Sundays at 11AM MST.
Oliver recently launched his newest edition of his 2020 Retirement and Your Taxes Guide that offers up to date important information about how to protect your retirement from all the recent changes that will impact taxes. In this quick and easy to read guide, Oliver explains how Baby Boomers can thrive in retirement. He explains how the IRA rules have changed and further discusses the SECURE Act, the changes to required minimum distributions as well as a summary of the Tax Cuts & Jobs Act of 2017.
Oliver explained “The most recent release of my “Retirement and Your Taxes Guide” offers an overview of several areas that often cause confusion to retirees with the recently passed rule changes to IRA’s. To learn how to get a copy of the “Retirement and Your Taxes Guide” visit online at:
For those interested in learning more about how to save on taxes and Chuck Oliver with The Hidden Wealth Solution, register for a complimentary webinar to learn more ways to save on taxes and how to thrive in retirement solutions. The next scheduled webinar is on February 4, 2020 as well as on February 11th, 18th and 25th. Available times are 11AM EST, 3PM EST, 7PM EST, 8PM EST, and 10PM EST. To register for this free webinar, visit online at: https://retirementprotected.com/
For more information visit online at: https://thehiddenwealthsolution.com/