Timothy Sumer

Are you a new retiree facing a back tax debt you can't pay in full today? Book a call with me at Retirement and taxes can be complicated but they don't have to be. As you enter into the next chapter of life don't take tax problems with you. In this video, I walk you through what a form W-4P is and why it is important to have it properly filled out when you begin taking payments from your pensions, annuities, and other retirement accounts. If you have a tax debt under $20,000 you qualify for a guaranteed payment plan with the IRS. Qualified taxpayers can pay the debt off within 36-72 months, have all tax returns filed, and have their withholding correct(ed). If that's you check out my e-book: Guaranteed Payment Plan. I'll walk you through how to set up your payment arrangement online or on the phone. If you have more questions about retirement income and taxes check out Episode 13 of the Tax Relief with Timalyn Bowens podcast: Retirement and Taxe...

#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...