Timothy Sumer

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Showing posts with the label travissickle

Comparison of Retirement Plans for Small Business Owners: LLC vs. S Corp

If you're trying to reduce your taxes, save more and figure out which is the best small business retirement plan this video is for you. Choosing between an LLC or S-Corp for a small business owner can be complicated. In this video I'm going over 3 examples of how choosing the business structure and retirement plan can change your tax and retirement plan choices a lot. ----------------------------------------------------- Join this channel to get access to perks: ----------------------------------------------------- Join this channel to get access to perks: ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving ...

Achieve Tax-Free Conversion of Your Roth IRA

The Roth Conversion and Mega Backdoor Roth may be on the chopping block with proposed legislation moving forward in congress. The idea that has been floating around on if you should take advantage of the Roth Conversions before the end of the year are weighing on higher income earners. There is a strategy that may help minimize or eliminate all your taxes in the year of the conversion. I was talking with another industry pro on how to accomplish this conversion and not pay taxes, legally of course. Let me know in the comments if you're considering this type of transaction and I may do a video on it or add it to the membership section. I don't think it's going to be highly used by for high income earners it may be a big help. ----------------------------------------------------- Join this channel to get access to perks: ----------------------------------------------------- ///////////////////////////////////////////////// Get answers FASTER... Join this ch...

Taxation of Backdoor Roth Conversions: At what point are they taxed?

How to avoid the pro rata rule when doing the Backdoor Roth conversion. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetim...

Is it beneficial to raise my S-Corp Salary in order to maximize my solo 401k company match?

Increasing your income to contribute more to your solo 401k can help you reduce your federal income tax. BUT you should do this first to make sure it makes sense! ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career ...

What is the maximum contribution limit for my 401k in 2023?

///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you. TRAVIS T SICKLE, CFP®, EA®, AAMS®, C...

What is the ideal timing for rebalancing my 401k?

Last-Minute 2023 Tax Tips for Roth IRAs

Roth IRA LAST minute TAX Tips for 2022 in 2023. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help...

Ways to Resolve and Prevent the Roth IRA Excess Contribution Penalty

2023 Contribution Limits for Bitcoin IRA Retirement Plans

Bitcoin IRA ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you. TRAVIS T SICKLE, CFP®,...

Tips for Deciding Between Roth IRA or Traditional IRA

Roth IRA vs Traditional IRA: Which one is BETTER for YOU! The tax-free growth of a Roth IRA is great but don't miss out on total tax savings. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets...

Reviewing BitcoinIRA in 2023

BitcoinIRA is the world's first and most trusted platform for investing in cryptocurrencies through an IRA. With options such as Roth IRA, Traditional IRA, SEP IRA, and SIMPLE IRA, investors can potentially benefit from the growth of the crypto market while enjoying the tax advantages of individual retirement accounts. BitcoinIRA also provides educational materials and tools to help you understand the potential risks and benefits of investing in cryptocurrencies. Whether you're a seasoned investor or new to the world of crypto, the team at BitcoinIRA is ready to help you reach your retirement goals. In this video, we'll take a closer look at how BitcoinIRA works and explore the different IRA options available. If you're interested in using your IRA to invest in cryptocurrencies, BitcoinIRA could be the platform for you. Some taxes may apply. We recommend you consult your tax, legal, or investment advisor. Insurance may vary based on the asset chosen and ...

Correcting Several Overcontributions in Roth IRA Accounts

In this video, we go over the steps to correct excess contributions made to a Roth IRA. We stress the importance of differentiating between traditional and Roth IRAs since the appropriate fixes depend on the type of IRA and when the contributions were made. We detail the four different methods of rectifying excess contributions to a Roth IRA, which include corrective distribution, recharacterization, ordinary distribution, and absorption. We clarify that although there is a six percent penalty for excess contributions, it only applies to the excess amount, not the total balance. It is highly advantageous to identify excess contributions early to avoid penalties and simplify the correction process. If you need help fixing excess contributions to a Roth IRA, this video provides a comprehensive guide to assist you. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: ...