Timothy Sumer

Looking forward to your annual income can be exciting, but the thought of the taxes that will be withheld can quickly dampen your mood. It can feel like you're working for two companies, but only getting paid by one. However, there may be a way to reduce your tax bill that is within the bounds of the law. Before we delve into that, it's important to clear up a common misunderstanding about tax payments. Staying within a certain tax bracket can prevent you from having to pay a higher percentage of your income in taxes, but it's worth considering that as your income increases, your tax liability may increase as well. Share this video with a friend if you find it useful! Consider subscribing to the channel for videos about investing, business, stock market, managing money, building wealth, passive income, and other finance-related content! DISCLAIMER: Invest Wise are not financial advisors or brokers. All the information, strategies, tips & tricks etc. shared

#financial education #retirement tax planning Are you planning for retirement? Do you have most of your retirement savings in Traditional IRA's or 401k plans? You could be sitting on a huge tax liability bill! In this video I outline a tax strategy for retirement. (one of my 7 core elements of retirement planning ) In this video you will learn... ** How the Tax Cuts and Jobs Act of 2018 presents a unique planning opportunity for retirees. ** How to coordinate your Social Security strategy into your tax plan for retirement. ** The 3 primary retirement tax buckets and how to balance your investments in each. ** What happens to your taxes if you or your spouse dies. ** How your taxes can cause higher medicare costs. ** Impact of Required Minimum Distributions on your taxes. Thank you for watching! Please subscribe to our channel if you like the content. retirement planning can seem overwhelming, and it's hard to know where to start. I am passionate about retir