Timothy Sumer

Taking the Next Step: 📞 Book a Professional Tax Strategy Consultation: 🤑 Watch this FREE Training to Learn How to Save on Taxes, Legally: Learn How to Grow Your OWN Rental Portfolio & Reduce Taxes Legally! My Tax Strategy Programs: Tax Free Living Bundle (47% off): 🏡  Buy Tax Alchemy Rental Loss Program Now: Book a Discovery Call to Learn More About Tax Alchemy: Check out these links Below! Get Help Setting up Your LLC: Learn How to Self Direct Your IRA or 401k: *Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you. #taxes #taxfreeliving #taxexpert #taxreduction #llc... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Sil...

How do you build your financial future when you're single? In this webinar, Senior Financial Planner, Allison Alley, CFP® explains how to map out your retirement journey, create a budget, and manage debt, with specific strategies for every generation. Whether you're a millennial, a Gen-Xer, or a baby boomer, Allison offers tips and strategies around emergency savings, Social Security, saving for retirement (including catch-up contributions), and managing your investment portfolio during market downturns. Throughout the webinar, Allison also answers viewer questions about retirement as a single person. Download the guide to Going Solo: How to Navigate Your Financial Future Single: 00:00 - Intro 02:19 - Retirement Savings by Generation 04:12 - Millennials' Solo Retirement 09:51 - Generation X Solo Retirement 20:15 - For the percentage of salary to save, are you referring to gross or net income after taxes and retirement contributions? 20:30 - How does the death...

Today on Your Money, Your Wealth® podcast 403 with Joe Anderson, CFP® and Big Al Clopine, CPA, following the Fed’s fourth consecutive interest rate hike last week, should you be changing your investing strategy to time this inflationary market, moving from bonds to 3-year annuity CDs? Plus, Joe and Big Al spitball on asset location and Roth conversions for the in-laws, and a net unrealized appreciation (NUA) strategy for company stock in a 401(k). They also discuss whether extra home mortgage payments are part of an investment portfolio, and what real estate expenses are tax deductible. Show notes, free financial resources, transcript, Ask Joe & Big Al On Air: 00:00 - Intro 00:48 - Inflation Investing Strategy: 3-Year Annuity CD Vs. Bonds 12:58 - How to Invest When Inflation is Raging - Read the Blog: Download Pursuing a Better Investment Experience Guide: 13:24 - Net Unrealized Appreciation NUA Strategy for Company Stock in My 401(k)? (Bob, Medina, OH) 20:24 - Should...

On today's Taxes Made Simple, we delve into the most requested and important topic that every taxpayer should be aware of: strategies that average to wealthy earners can utilize to pay as little taxes as possible! Taking the Next Step: 📞 Book a Professional Tax Strategy Consultation: 🤑 Watch this FREE Training to Learn How to Save on Taxes, Legally: Learn How to Grow Your OWN Rental Portfolio & Reduce Taxes Legally! My Tax Strategy Programs: Tax Free Living Bundle (47% off): 🏡 Buy Tax Alchemy Rental Loss Program Now: Book a Discovery Call to Learn More About Tax Alchemy: Check out these links Below! Get Help Setting up Your LLC: Learn How to Self Direct Your IRA or 401k: *Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies menti...

In order to retire comfortably at age 60, what should you be doing with your finances when you’re in your 20s? A framework for getting started planning for retirement, today on Your Money, Your Wealth® podcast 419 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, if you’re a small business with a SIMPLE IRA plan, is it stupid to save for retirement in a brokerage account rather than a traditional IRA? If you inherited money and promised to donate to charity, should you do Roth conversions? What’s the most efficient way to pay financial advisor fees, and what’s a good strategy for making pre-tax and post-tax retirement contributions? Podcast show notes, free financial resources, Ask Joe & Big Al On Air: 00:00 - Intro 00:51 - A Framework for Getting Started in Planning for Retirement (Anonymous) 05:36 - I’m 24. What Should I Do to Retire Comfortably at 60? Michael, 24 (Binghamton, NY) 11:18 - Cracking the Code to Succeeding Financially at Any Age - Watch YMYW & ...

"I have a difference of opinion with our financial advisor as it relates to Roth conversions that I would like to get your perspective on. Our retirement assets include $1.7M in traditional IRAs, $220K in a Roth IRA, $81K in an HSA and $865K in taxable brokerage accounts and cash. Our investments are mostly balanced between stock and bond index funds, with a cash reserve to cover 2-3 years living expenses. I collect a pension from my former employer of $62K/year. We are deferring our Social Security until age 70 at which time we expect to get around $78K/year. That plus a deferred fixed annuity should give us around $150K/year of lifetime income by age 70. I want to draw down the traditional IRAs during our “gap” years and pay the taxes now at the current historically low rates, maxing out the 22% bracket each year (no state income tax in Florida). This amounts to about $150K of traditional IRA distributions each year. I am allocating $50K of the $150K of IRA withdrawals...

Taking the Next Step: 📞 Book a Professional Tax Strategy Consultation: 🤑 Watch this FREE Training to Learn How to Save on Taxes, Legally: Learn How to Grow Your OWN Rental Portfolio & Reduce Taxes Legally! My Tax Strategy Programs: Tax Free Living Bundle (47% off): 🏡  Buy Tax Alchemy Rental Loss Program Now: Book a Discovery Call to Learn More About Tax Alchemy: Check out these links Below! Get Help Setting up Your LLC: Learn How to Self Direct Your IRA or 401k: *Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you. #taxes #taxfreeliving #taxexpert #taxreduction #llc... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA ...

Do you know what the most important steps are that you can take today to grow your wealth? Regardless of your age or where you are in life with saving for retirement, today’s show is for you. Joe Anderson, CFP®, and Big Al Clopine, CPA give you the steps to success to grow your wealth at any age! Download the Guide to Growing Your Wealth: 0:00 - Intro 1:52 - Steps to Success 3:16 - Asset Allocation 5:15 - Account for Inflation 6:21 - Download: Grow Your Wealth Guide 7:11 - True/False: Most retirees surveyed say they saved more money than they needed in retirement 7:41 - Investing Early 8:37 - Missteps and Catch-ups 9:43 - $1 Million at Retirement 11:15 - Retirement Income and Spending 13:49 - Download: Grow Your Wealth Guide 14:25 - True/False: If I make too much money I can’t invest in a Roth account. 15:32 - Roth Income Limits and Contribution Limits 17:57 - IRA Income Limits and Contribution Limits 18:40 - Tax-Smart Strategies 20:00 - Ask the Experts: My financial ...

Should investors worry about regional banks? Will the Federal Reserve tame inflation? Is a recession looming? What's next for stocks and bonds? Pure Financial Advisors' Executive Vice President and Chief Investment Officer Brian Perry, CFP®, CFA® charter, AIF® addresses these questions as he discusses Q1 market volatility and the outlook for Q2 and beyond. Download the 2023 Key Financial Data Guide: Schedule a free assessment with any one of our experienced financial professionals: 00:00 - Intro 00:26 - Banks and Recession: What is a Recession? 05:17 - Inflation remains high. When will it moderate? 100-year and 12-month inflation rates 09:32 - Is the dollar going to be replaced as the reserve currency? 11:42 - Stock Market Volatility, Performance, Bull and Bear Markets, Consumer Confidence, Inflation 17:23 - Should I still own international stocks? Global Stock Market Summary Performance, Values, Returns, Revenue 24:05 - Pessimism, Prices, Good Time to Invest? 25...

Saving for retirement can be a bit of a three-ringed circus but Joe Anderson, CFP®, and Big Al Clopine, CPA have your ticket to the show! Whether you’re retired, saving for retirement, in the military, or paying off student loans, SECURE 2.0 is a massive shift in investment policy, designed to motivate and enable people to save more for retirement to the tune of $40 billion in new savings plans over the next decade – not to mention reshaping 401(k)s and RMDs. What does the SECURE Act 2.0 mean for you? It's all under the big top in today's show! Download the free guide to the SECURE 2.0 Circus: Secure 2.0 Circus • Big Top Benefits • Inheritance Gymnastics • Show Time 0:00 - Intro 1:16 - Secure 2.0 Circus 2:50 - 401(k) Changes 5:07 - RMD Changes 6:43 - Emergency Savings Plan 7:00 - Qualified Charitable Distributions 7:43 - 529 Plans 9:14 - Student Loan Match Program 9:43 - Download Guide: SECURE 2.0 Circus 10:30 - True/False: If you inherit an IRA from your fathe...

(469) 742-0283 - In this short video, Certified Public Accountant John Harman discusses situations when self-employed business owners may choose an alternative to funding a SEP IRA when looking to gain tax-free income with intelligent retirement and tax planning. He and his team serve those who live and work in Collin County including McKinney, Frisco, Plano, Allen, Fairview, Prosper, Celina, Melissa, Anna and nearby towns. The firm is located at: John Harman, CPA PLLC 1402 S. Custer Rd, S-102 McKinney, TX, 75070 info@mckinneytax.com Phone: (469) 742-0283 For more on taxes, here is the IRS website: The firm won McKinney Online's "Best Of" award in 2019 for Accountant. Here is the link: Here is more about his firm: John Harman CPA PLLC A full service CPA firm that continually offers small business personal service to clients. Our excellent four member key staff has over 50 years experience in tax and/or CPA firms. Services provided: Tax Pre...

"Team, thank you again for the great show and the humor in how you answer these questions. I have a question about my Roth IRA and Roth TSP…. and it has nothing to do with the Megatron or back door! I’ve had my Roth IRA for about 15 years and began funding the Roth side of my TSP 5 years ago. I intend to transfer the Roth portion of my TSP to my Roth IRA whenever I decide to retire from the military. With that in mind: Will all the contributions I’ve made to my Roth TSP over the years be counted as contributions in my Roth IRA? Or would the entire value of the Roth TSP count as the contribution when it is transferred to my Roth IRA? Is there some other rule that I am missing? I understand that Roth IRA contributions can always be accessed without penalty and that contributions are considered to be the first portion withdrawn from the account. What I don’t understand is how or if that would change once another retirement plan such as my Roth TSP is brought over. I’m...