Timothy Sumer

#401k #IBC #Investing In this video, I give 3 reasons why you SHOULDN'T contribute to a 401k, and propose an alternative savings strategy you may never have heard of. Chapters 0:00 Introduction 0:50 Taxes 1:00 Delaying the Tax 1:30 Lower Tax Myth 2:04 Lower Income Myth 2:44 The LIE 3:18 Government Program 3:47 Access & Control 4:26 Others Benefit 5:15 Saving vs. Investing 5:52 Government Confiscation 7:14 What To Do Instead? 8:52 Disclaimer 9:30 Summary and Conclusion For more information on the Infinite Banking Concept ® Financial System (IBC), visit: Nelson Nash Institute: To find an Authorized IBC Practitioner in your area, visit: Disclaimer: The Infinite Banking Concept® is a registered trademark of Infinite Banking Concepts, LLC. Maxwell McGuire, CPA is independent of and is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC.... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment Durin

Traditional IRA Tax Deduction - Pay Less Taxes & Save Money Your traditional IRA contributions may be tax-deductible. The deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. For 2021, 2020 and 2019, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than: $6,000 ($7,000 if you're age 50 or older) Start your Traditional IRA with WeBull or M1Finance! 🤑 Get FREE stocks from WeBull when you open and fund a brokerage account with this link - 👏 M1 Finance for investing - $10,000 Self-Employed and Small Business Grant! How to Apply for the EIDL Video - If you are a Self-Employed / Sole-Proprietor you might qualify for small business grants and small business loans. Yes, Uber Drivers, Fiverr Freelancers, and other gig-economy workers might be eligible for the EIDL for example. Grants, Loans, and Rental Assistance Spreadsheets -

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

In this video, we'll show you 5 last minute tax deductions that you can use to lower your taxes. Whether you're filing your taxes online or in person, these deductions will help you save money on your taxes! 5 actions you still can take now to lower your 2022 taxes: 1) Make a charitable contribution 2) Make a contribution to a traditional IRA 3) Max out any 529 plans 4) Sell any stocks with losses 5) Defer any yearend bonus to be paid in 2023 Whether you're a beginner or a pro, don't miss out on these 5 last minute tax deductions! By taking advantage of these deductions, you'll be able to save money on your taxes! #taxdeduction #taxes #taxdeductions #traditionalira #529plan #charitablegiving #501c3 To continue learning more about this subject, check out the following: 9 States in the US that DON’T have a State Income Tax Tax Credit vs Tax Deduction: What's the Difference? Follow on Twitter: @patrickbrayCPA Disclosure Disclaimer: The infor

Reduce your taxable income in 2020. With tax season just around the corner, who doesn't want more ways to pay fewer taxes? In this video, I explain 6 tax loopholes that will help you reduce your taxable income in 2020. I show you some easy ways to avoid taxes (legally!). Tax laws are structured wayyyyyyy in favor of investors, and you can take advantage of these rules even if you don't have a ton of money, to begin with. Using these tax loopholes will stack the odds in your favor and make the system work FOR you versus against you. ***ATTENTION: I have a new Instagram and TikTok handle @itsrosehan *** That's my official account, and I will NEVER message you about investment schemes, so please be careful and block & report any scammers posing as me. __________ ***FREE DOWNLOAD: The Ultimate Guide to Investment Accounts Everything you need to know about IRAs, 401(k)s, HSAs, and taxable brokerage accounts. What they are, which ones you need, and where to

10 Ways to Save More for Retirement and Reduce Your Taxes. The retirement savings plan strategies are pieces to your financial life that can also help reduce your taxes. You can save smarter for your retirement at any income level while reducing your taxes. 0:00 Intro 0:51 #1. Balancing between the Roth IRA and Traditional IRA 2:16 #2. SEP IRA with employees 3:22 #3. Roth IRA and no RMDs 4:30 #4. 401(k) Contribution limits 5:28 #5. NonDeductible Contribution and Backdoor Roth Conversion 6:30 #6. Municipal Bonds in taxable accounts 6:46 #7. Dividend-paying stocks for favorable tax treatment 7:13 #8. Buy and Hold stocks for long-term capital gains 8:00 #9. Workplace Plan NonDeductible Contribution for Megabackdoor Roth 8:58 #10. Nonqualified Annuity for an income stream ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: ----------------------------------------------------- Are you ready for professional inv