Timothy Sumer

Tax Professionals check out my new Certified Tax Advisor Program here : A Health Savings Account (HSA) and a Health Reimbursement Account (HRA) are both powerful tools for health and retirement planning . An HSA allows individuals to save pre-tax dollars for medical expenses, which can be used tax-free in retirement. Meanwhile, a Roth IRA allows for tax-free growth and withdrawals in retirement, making it an ideal vehicle for long-term savings. Together, these accounts can help individuals achieve their retirement goals and ensure financial security in their golden years. Sign up for the news letter today to get my BRAND NEW eBook The Ultimate Tax Strategy Guide visit: To get your Comprehensive Business & Tax Consult: Everything you need is right here for you! #Taxes #avoidtaxes #paylesstaxes #wealth #tax #realestateinvestment #Markjkohler #KKOSLawyers EVERYONE should know these strategies! A huge part of building wealth, is knowing the best strategies to prote

Roth conversion income does NOT count against your MAGI in order to determine your ability to contribute directly to a ROTH IRA. I did not know this! Ole Ben from Texas shared that information with me. So I knew I needed to share it with you too. Folks, this just proves the point, NO ONE can possibly know everything when it comes to financial planning. And when it comes to YOUR specific situation, no one cares more about it than YOU. Thus, while relying on folks in the business is a good idea, man, oh man, you've got to take care of number 1 first. And that's you! ================================ If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the video to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: My Amazon Product page: Anything you buy there Amazon pays me a commission. Much

Brenden Healy, Tax Partner of Whittlesey discusses retirement plans. There are a number of options available to the business owner and the taxpayer to properly plan for their retirement while saving tax dollars today. Things like a Simple IRA, SEP IRA, Solo 401k plan , and Cash Balance Plans. To learn more visit: Contact: 860.522.3111 marketing@wadvising.com 280 Trumbull Street, 24th Floor Hartford, CT 06103 Music: ... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA Saving tax dollars is a topic that is always on everyone's mind, and it is especially significant when it comes to retirement planning . A retirement plan not only helps one save money for the future but also provides potential tax benefits. In this article, we will explore the ins and outs of how to save tax dollars by investing in your retirement plan. Firstly, it is i

Are you a business owner that is finally starting to see some profits? You have been slugging away for several years and now you are finally in the black and you want to start thinking about retirement. You know that you need to save, but as a business owner you have a plethora of different retirement plan options that as an individual you didn't. If you are confused and bewildered and not sure what direction to go, I completely understand. I was in the exact same situation as you. I was a W2 employee, and then when I became a small business owner I now had many different options that I could choose from and initially it was overwhelming. It was easier doing it for the client, but now that I was actually on the business owner's side of things, the 1099 independent contractor side of things, I now wanted to make sure that I was doing the best retirement plan for me. If you are looking to see what retirement plan is best for you, here are a few options to

Roth IRAs SHOULD be looked at as an estate planning tool. In this video, we go over a Vanguard paper that talks about this exact thing. ================================ If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the video to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: My Amazon Product page: Anything you buy there Amazon pays me a commission. Much appreciated! If you received value from this video and/or channel, and want to say thanks, feel free to send a donation via Paypal. I'm not too proud to ask! Contact me: Josh@heritagewealthplanning.com GET MY BOOKS: ALL are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It Strategic Money Planning: 8 Easy Ways To Put Your House In Order State by State Tax Guide For Retirees

Ask Sherron your questions: Disclaimer Statement The information and views on this video is provided for specific subject matter only and does not reflect official opinion or position of The Modern Savvy CPA, LLC or Sherron Permashwar, CPA. The Modern Savvy CPA, LLC or Sherron Permashwar, CPA were not engaged in providing legal, tax or accounting services. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing In the first part of this series, we discussed the concept of good and bad debt and their implications on personal finance. In this article, we will delve deeper into the distinction between the two types of debt and how to identify them. Good debt is an

Most Californians don't need to submit their taxes until Oct. 16, 2023. Due to the the winter storms, the tax deadline has been extended for all but 3 counties in California. CPA Larry Pon explains who is impacted by the new deadline, contributions that will lower your tax bill and what you need to know about the middle class tax refund. #taxes #tax #taxday #middleclasstaxrefund #taxrefund #abc7news... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA As the tax season approaches every year, many taxpayers face the pressure of filing their tax returns and ensuring they're not missing anything. However, sometimes circumstances prevent them from completing the task on time. For instance, a taxpayer may not have all the necessary documents or resources to file their tax returns before the April 15th deadline. Fortunately, the state o

Schedule a free virtual or in-person consultation by visiting We are based in Knoxville and Chattanooga! Would a Roth Conversion improve my tax efficiency? What happens if I run out of income before I run out of life? Will my spouse be ok? In this study, we'll take a look at being 69 and retired with $1,600,000 in your 401(k). Should you convert to a Roth IRA? 0:25 Introduction 0:58 Case Study 1:05 Plan for Everything 1:40 Current Situation 2:17 Disclaimer 2:54 Roth Conversions 4:30 401(k) vs Roth IRA 9:42 Tax Brackets 11:17 Impact of RMDs 12:10 Starting Distribution Tax 13:11 How Much to Convert? 13:38 Medicare Part B 14:35 Conclusion A successful retirement plan means having a clear and achievable plan for your taxes, income, investment, healthcare, and legacy. If you are missing a piece of your financial puzzle or just want a second opinion, contact us at 865-392-4260 or visit Learn more by visiting our website: #incomeplanning #retirementplanning #retirementin

The deadline to contribute to a traditional IRA or Roth IRA for a tax year is by the April tax filing date in the year after. If you get your year end bonus after the year, then that's a great time to fund your IRA before the deadline. #retirementplanning #taxtips #finance #financeblogger #moneytips #moneymanagement #wealthmanagement #retirementinvesting #investing #investingtips #personalfinance #financialliteracy #financialeducation... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA For individuals looking to save for retirement, contributing to an Individual retirement account (IRA) is a wise financial decision. One of the advantages of an IRA is that it offers tax benefits that can help you considerably reduce your tax liability. However, contributing to an IRA requires advanced planning and adhering to deadlines set by the Internal Re

Learn why conventional wisdom around maximizing out contributions to 401ks and traditional IRAs is wrong and outdated. Mega Back-Door Roth-IRA Strategy - Video Contents 00:00 - The 401k Myth 01:50 - Disadvantages to 401ks and IRAs 27:43 - When You Should Use a 401k or IRA The information in this video is for educational purposes only. Nothing in this video is intended to constitute legal or investment advice. We may receive commissions in exchange for products or services recommended.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing As an AI language model, I cannot form an opinion or provide any financial advice. However, for informational purposes, it is believed that an article claiming that 401ks and IRAs are bad would likely not be a fair representation of the overall financial industry's view. Bot

Schedule a free virtual or in-person consultation by visiting We are based in Knoxville and Chattanooga! Would a Roth Conversion improve my tax efficiency? What happens if I run out of income before I run out of life? Will my spouse be ok? In this study, we'll take a look at being 64, single, and retired with $1,800,000 in your 401(k). Should you convert to a Roth IRA? 0:21 Introduction 1:58 Disclaimer 2:14 Case Study 2:25 Plan for Everything 2:48 Current Situation 3:25 Roth Conversions 4:32 401(k) vs Roth IRA 8:43 Tax Brackets 10:10 Impact of RMDs 11:11 Starting Distribution Tax 11:56 How Much to Convert? 12:14 Medicare Part B and D 13:04 Conclusion A successful retirement plan means having a clear and achievable plan for your taxes, income, investment, healthcare, and legacy. If you are missing a piece of your financial puzzle or just want a second opinion, contact us at 865-392-4260 or visit Learn more by visiting our website: #incomeplanning #retirementplannin

Do you know how the Roth Solo 401(k) works? You should! Join Adam Bergman as he walks you through the ins and outs of saving for retirement as a small business owner. You can have all the bells and whistles for your retirement account ! Interested in learning more about a Solo 401(k)? -- Learn more about the Roth IRA: -- Learn more about the Backdoor Roth: Learn more about the Solo 401(k): -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions. Learn More: #Solo 401k #retirement #Alternative

Website: IRS Tax Aid Services - We Solve Tax Problems - Free Consultation Do You Owe Money To The Internal Revenue Service? We can help you in the following ways. - Provide immediate IRS tax relief for you. - Represent you in front of the IRS with your tax problems - Stop the IRS tax collection process (place it on hold) - Free initial consultation for your IRS tax debt issues - Negotiate with the IRS the amount of back taxes and fees owed - Work directly with the IRS so you don't have to deal with them - Help you get your IRS debt resolved Stop the IRS Collection Process - Enrolled Agents can help you. We help with tax liens, back taxes, tax problem resolutions etc. We represent you in front of the IRS with all tax problems you may have. Let us help you reduce the debt and stop the IRS collection process. We work directly with the IRS so you don't have to deal with them. Trucker Tax Help... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA T

Schedule a free virtual or in-person consultation by visiting We are based in Knoxville and Chattanooga! Would a Roth Conversion improve my tax efficiency? What happens if I run out of income before I run out of life? Will my spouse be ok? In this study, we'll take a look at being 61 and working with $3,000,000 in your 401(k). Should you convert to a Roth IRA? 0:24 Introduction 1:25 Disclaimer 2:04 Case Study 2:21 Plan for Everything 2:50 Current Situation 4:07 Roth Conversions 7:13 Income Now & Income at 65 8:48 Income at 70 9:10 Impact of RMDs 11:44 401(k) vs Roth IRA 16:18 Tax Brackets 18:06 Starting Distribution Tax 20:09 How Much to Convert 21:26 Net Investment Income Tax 22:15 Medicare Part B & D 23:31 Conclusion A successful retirement plan means having a clear and achievable plan for your taxes, income, investment, healthcare, and legacy. If you are missing a piece of your financial puzzle or just want a second opinion, contact us at 865-392-4260 or vi

Roy Kamida Kapiolani Community College University of Hawaii... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Chapter 3, Part 4 of the Internal Revenue Service (IRS) code explains the rules for Traditional IRA distributions. A traditional IRA is a tax-deferred retirement account in which you contribute funds on a pre-tax basis or deduct contributions on your income tax return. The earnings from the account are also tax-deferred until you start taking withdrawals. The IRS requires you to start taking distributions from your traditional IRA account by April 1 following the year you turn 72. This is known as your required minimum distribution (RMD). The RMD is based on the value of your account and your life expectancy. The IRS publishes tables to help determine the RMD amount for each year. You can take distributions from your traditio

... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA As the job market has shifted over the years, so has the way we save for retirement. Gone are the days of relying solely on pensions and Social Security benefits. Today, many people rely on 401(k), SEP, or IRA plans to save for their retirement years. While these plans can offer significant tax advantages and the potential for long-term growth, they also come with a hidden risk that many investors may not be aware of. The hidden risk in these retirement savings plans is that they are heavily dependent on the stock market. The stock market is inherently volatile and can experience significant fluctuations in short periods of time. This volatility can wreak havoc on a retirement portfolio, especially for older investors who are closer to retirement age and have less time to recover from mark

Your Individual retirement account , or IRA, is where you set aside money for your own retirement. It can hold quite a few investments, though not an unlimited amount. The difference between traditional IRAs and Roth IRAs is when you prefer to have the government tax your funds, before you put them in or after you take them out. Click the link above to learn more about IRAs.... ( read more ) LEARN MORE ABOUT: IRA Accounts INVESTING IN A GOLD IRA: Gold IRA Account INVESTING IN A SILVER IRA: Silver IRA Account REVEALED: Best Gold Backed IRA Traditional IRAs versus Roth IRAs Individual retirement accounts, or IRAs, are popular among those who want to save for retirement. IRAs offer different tax benefits, some of which depend on whether you opt for a traditional IRA or a Roth IRA. Here is an overview of the differences between the two types of IRAs: Tax treatment: The key difference between traditional IRAs and Roth IRAs is how they are taxed. With