In this episode of Adam Live, Adam Bergman, Esq., founder of IRA Financial, talks about the Build Back Better Act, which was passed by the House on Friday, has provisions related to retirement plans, specifically, IRAs. Adam will discuss strategies involving the Roth and whether or not you should consider a Roth conversion.Learn more about Roth conversions: https://www.irafinancialgroup.com/learn-more/self-directed-ira/what-are-the-advantages-of-converting-a-traditional-ira-to-a-self-directed-roth-ira-llc/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.IRA Financial Group is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not provide legal services. No attorney-client relationship exists between Client and IRA Financial Group, its management, salespersons or IFG’s in-house legal counsel. IRA Financial Group provides IRA retirement facilitation service and CANNOT provide Client with legal, investment, or financial advice. Prior to making any investment decisions, please consult with the appropriate legal, tax, and investment professionals for advice.IFG is not engaged in rendering legal, accounting or other professional services. If legal advice or other professional assistance is required, the services of a competent professional person should be sought. (From a Declaration of Principles jointly adopted by a Committee of the American Bar Association & a Committee of Publishers and Associations.). The scope of Professional Services does not include the costs of any custodian related services.Learn More: https://www.irafinancialgroup.com/about-us/#BuildBackBetter #RothIRA #IRA #RothConversions #MegaBackdoorRoth401k #BackdoorRothIRA #Retirement #RetirementPlanning #Investing #Taxes #TaxPlanning #SelfDirectedIRA #Roth401k
Income is taxed at the federal, state, and local levels, and earned income is subject to additional levies to fund Social Security and Medicare, to name a few. Taxes are difficult to avoid, but there are many strategies to help ward them off. Here are six ways to protect your income from taxes.Although it is important to pay all that is legally owed to tax authorities, nobody has to pay extra. A few hours on the IRS website (IRS.gov) and scouring reputable financial information sites may yield hundreds, maybe even thousands, of dollars in tax savings…………………………Hey ya’ll ! I really love finances and talking about ways to make it easier to make more, save more, give more, and of course spend more. So most of the stuff we will be diving into will be related to finances with the odd topic here and there, plus maybe a special appearance from Rocko, my big pittie baby! I want to start off with easier concepts and the basics of money and work my way into the more difficult and nuance topics. You may be asking, why would I ever listen to you about anything? That’s a fair point, and you don’t have to. However, I would love to take this journey with you into the financial world and together we can learn and grow, not only our knowledge but our bank accounts too! I am not a Financial Advisor, any investment commentary are my opinions only…………………………………………………#finance #money #business #investing #investment #financialfreedom #entrepreneur #trading #stockmarket #wealth #stocks #invest #bitcoin #success #forex #motivation #realestate #investor #cryptocurrency #accounting #financialliteracy #wallstreet #personalfinance #crypto #credit #smallbusiness #entrepreneurship #marketing #trader #bhfyp#mortgage #startup #financetips #cash #blockchain #creditrepair #luxury #goals #financialplanning #millionaire #rich #businessowner #loans #tax #bhfyp #financial #debtfree #insurance #economy #lifestyle #daytrader #forextrader #banking #accountant #creditscore #education #financialindependence #investments #realtor #fintech
When an annuity is coming due you usually have some options. Figuring out which one to choose is not always so easy. Have a money question? Go to jillonmoney.com for all the contact info.We love feedback so please subscribe and leave us a rating or review in Apple Podcasts!”Jill on Money” theme music is by Joel Goodman, www.joelgoodman.com.
Linda is a Investment Advisor at iA Financial Group (Industrial Alliance) Licensed in Securities, Mutual Funds, Life, Disability, Critical Illness and Long-Term Care Insurances (Estate & Retirement Planning). In this Masterclass she talks about Death & Taxes to help her clients ‘control their assets from beyond’.Subscribe and Follow Us to Catch Future our Future Content and Resources:Book your Consultation: https://calendly.com/levesquewealthplanningVisit Our Website:https://levesquewealthplanning.com/contact-us/Facebook: https://www.facebook.com/levesquewealthplanningTwitter: https://twitter.com/LevesqueWealthLinkedIn: https://www.linkedin.com/in/levesquewealthplanning/#deathandtaxes #masterclassmondays #levesquewealthplanning
In today’s video, I have invited my co-host for the CPA Huddle podcast, Eric Pierre. Please click here if you want to listen to our podcast and learn about creating generational wealth, self-managing your retirement, etc: https://podcasts.apple.com/us/podcast/cpa-huddle/id1556305095 Tune in and learn the difference between investing in Index Funds, and self-managing your retirement.Don’t forget to subscribe, like, and comment.
This episode we are answering questions about investment taxes. There are several things that you can do to reduce your investment taxes including the use of retirement accounts and buying and holding tax efficient investments. We cover six ways to help with reducing those taxes. We talk about when (or if) you should rebalance your portfolio and what to do if you have to recharacterize from a Roth IRA to a traditional. We discuss if it is ever a good idea to do tax gain harvesting and go over what opportunity zone investing is and what type of investors are participating in it. Learn more on how investments are taxed: https://www.whitecoatinvestor.com/taxes-on-investments/This podcast is sponsored by Bob Bhayani at https://drdisabilityquotes.com. He is an independent provider of disability insurance planning solutions to the medical community in every state and a long-time White Coat Investor sponsor. He specializes in working with residents and fellows early in their careers to set up sound financial and insurance strategies. If you need to review your disability insurance coverage or to get this critical insurance in place, contact Bob at https://drdisabilityquotes.com today by email firstname.lastname@example.org or by calling (973) 771-9100.The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you’re a high-income professional and ready to get a “fair shake” on Wall Street, The White Coat Investor channel is for you!Main Website: https://www.whitecoatinvestor.comYouTube: https://www.whitecoatinvestor.com/youtubeStudent Loan Advice: https://studentloanadvice.comFacebook: https://www.facebook.com/thewhitecoatinvestorTwitter: https://twitter.com/WCInvestorInstagram: https://www.instagram.com/thewhitecoatinvestorSubreddit: https://www.reddit.com/r/whitecoatinvestorOnline Courses: https://whitecoatinvestor.teachable.comNewsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter00:00 Introduction02:27 Reducing Your Taxes09:00 Rebalancing Your Portfolio11:47 Recharacterizing Roth Contributions15:12 Inheritances23:06 Tax Gain Harvesting26:06 Opportunity Zone Investing31:07 Interview w/ Cory Fawcett43:01 CRTs & Estate Taxes46:24 Wrap-Up
Everything that you need right here for you! https://linktr.ee/MJKYoutubeThe Crypto IRA Page at Directed IRA: https://directedira.com/cryptocurrency/Mind-blowing strategies that you can use TODAY with your 401k! Mark and Mat expand all of the fundamental strategies that get your 401k running like a well-oiled machine. Learn more at www.mainstreetbusiness.comI have the perfect book for you. Learn how to start your own business and if you already have one HELP it grow! With my 8 Steps to Start and Grow your Business, you will be on your way to financial freedom and taking control of your money. Go check it out at https://markjkohler.com/all-books/8-Steps-to-Start-and-Grow-Your-Business-p225942102Your financial wealth starts today!I go LIVE almost every week…Don’t forget to Subscribe and Hit that bell icon so you get a notification every time I upload a new video or go LIVE SIGN UP for my weekly newsletter to download my FREE E-book “The 10 Best Tax-Saving Secrets Everyone Should Know” and schedule a FREE 15 Minute Interview with an Attorney or CPA from my team! Visit www.markjkohler.com/youtube If you need help structuring your business or setting up your S-corp to save the most on taxes and to ensure maximum asset protection, click here to schedule a FREE 15-minute interview: www.kkoslawyers.com/contact-usVisit markjkohler.com for all of Mark’s game-changing educational materials, take charge of your ship, and start SAVING thousands in taxes!If you liked the video, please give it a “Thumbs up!” and please subscribe to see more!Set up a self-directed retirement account at directedira.com and start saving today!Visit www.mainstreetbusiness.com to listen to Mark Kohler and Mat Sorensen break down complex Tax & Legal strategies in an easy-to-understand way every week!Follow me on Instagram, TikTok Facebook and Twitter @markjkohler
How Is Beneficiary IRA Taxed? #shorts #retirement #taxesClick Here For More Retirement Planning Videos: https://bit.ly/3wH3mgbFull Video Here: https://youtu.be/eMbfz0hrQdUHow Do Inherited IRA’s work? || When Must Inherited Ira Distributions Start?In this video, I want to talk about how inherited IRA’s work for non-spouse beneficiaries. If you are someone who has an inherited IRA from someone who is not your spouse, you have 10 years to distribute the entire IRA account and pay the taxes. This new rule went into place after the SECURE ACT was signed late in 2019. Now, if you had an inherited IRA BEFORE Jan 1 2020, the old rules for distributing your inherited IRA are still in effect. Let me give you the old Inherited IRA rules first, and then we will discuss the new inherited IRA rules and when must inherited ira distribution rules start.Old Inherited IRA Distribution Rules (Pre Jan 1, 2020):1. 5 Year Rule-You can take 5 equal distributions from your inherited IRA over 5 years2. Stretch Option-You can stretch the inherited IRA over your lifetime and take a calculated Required Minimum Distribution (or RMD) from the inherited IRA every year over your life (If you pass away and your inherited IRA is inherited by your beneficiary, they then must distribute the entire balance in that year).New Inherited IRA Rules (Post Jan 1, 2020)1. 10 Year Distribution Option-You must distribute the inherited IRA over a 10 year span. Does not matter how you distribute the inherited IRA, it just needs to be distributed over 10 years and the taxes paid. There are 3 exceptions to the 10 year inherited IRA rule:1. A Special Needs Trust Inherits the IRA (No 10 year rule)2. You are disabled or Terminally Ill (No 10 year rule)3. Minor (You are a minor child of the deceased)Now that we understand HOW the inherited must be distributed, let’s talk about the taxes on the distributions from the inherited IRA. If you are on Social Security or Medicare, you want to make sure that you are monitoring your inherited IRA distributions so not to effect your Medicare taxes (IRMAA Tax). If your retirement income exceeds certain levels, your Medicare part B premium can be increased over a 12 month period only coming down once you file your next years tax return and show lower income. That is why it is so important to do tactical tax planning if you inherit an IRA from a non-spouse when you are on social security or Medicare. Another situation to be aware of is if you inherit an IRA when you are working. Any distributions you take out of the inherited IRA could push your traditional income into another tax bracket (meaning you pay more taxes) and could push you above the allowable limit for contributing to retirement plans. Again, that is why it is so important to do tactical tax planning if you have an inherited IRA.If you have an inherited IRA and want to make sure that you are being the most efficient with your taxes, investments, and overall distributions with your inherited IRA, contact me at https://pearlwealthgroup.com/contact/ and let’s discuss ways to navigate your inherited IRA and the taxes involved. Click Here to Subscribe: https://bit.ly/3wH3mgb**Free Retirement Download: The Roadmap to Retirement:**https://yourfinancialekg.com/#download
Today on Your Money, Your Wealth® podcast 351 with Joe Anderson, CFP® and Big Al Clopine, CPA, #EstatePlanning: is there a step up in basis on, and advantage to, a joint tenants with rights of survivorship brokerage account? Is a charitable remainder trust a good way to liquidate property? What would be the rate of return over 20 years? Is there a point to Roth conversions when leaving your entire estate to charity? Should you name your trust as the beneficiary on #retirement accounts? How do ex-spouse and survivor #SocialSecurity benefits work? When should you draw from the three-legged stool of Social Security, pension, and annuity in retirement? Plus, Roth conversions from a thrift savings plan (TSP). Show notes, resources, Ask Joe & Al On Air: https://bizlink.to/ymyw-35100:00 – Intro01:00 – JTWROS Brokerage Account Advantages & Step Up in Basis? 07:19 – My Estate Will Go To Charity. Convert or Wait for RMDs?12:34 – Rate of Return on a Charitable Remainder Trust to Liquidate Property?15:31 – Should I Name My Wife or Trust as Roth 401(k) Beneficiary?17:05 – Download the Estate Plan Organizer for free: https://purefinancial.com/white-papers/estate-plan-organizer/?utm_source=youtube.com&utm_medium=podcast&utm_campaign=YMYWSchedule a free financial assessment: https://purefinancial.com/lp/free-assessment/?utm_source=youtube.com&utm_medium=podcast&utm_campaign=YMYW17:49 – 3 Legged Stool of Social Security, Pension, and Annuity. When to Draw Each?20:09 – How Do Social Security Survivor Benefits Work?22:59 – Can I Claim Social Security Ex-Spousal Benefits?26:10 – Download the Social Security Handbook for free: https://purefinancial.com/white-papers/social-security-handbook/?utm_source=youtube.com&utm_medium=podcast&utm_campaign=YMYW26:58 – TSP, Pro-Rata Rule, and Backdoor Roth Strategy33:06 – Federal Employee TSP to Roth Conversion42:09 – Clarification: Roth Conversions Can’t Be Until 59.5?45:40 – The DerailsPure Financial Advisors, LLC provides comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation. Schedule a free assessment with any one of our professionals, online or at one of our financial planning offices in San Diego, Brea, Irvine, and Woodland Hills, California: http://bit.ly/PureAssessmentSubscribe and stay tuned for the next episode of Your Money, Your Wealth®: http://bit.ly/YMYW-YouTubeSubscribe to the YMYW podcast: https://link.chtbl.com/ymyw?sid=yIMPORTANT DISCLOSURES:• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation. AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.
Welcome to the second video in the Roth Conversion series. Are you looking for a tax-free retirement income? A Roth conversion strategy can be used to pay taxes now and avoid tax bills later when your income may be lower, or taxes may be higher. Think a Roth conversion is right for you? The first step is to consult with a financial professional like myself, who can help you analyze how a Roth may fit into your whole financial picture.Greg Lavelle, MBARegistered Representative Financial Square & RetirementAdvisers.net195 Park Ave, Worcester, MA 01609Registered Representative offering securities through Client One Securities, LLC Member FINRA/SIPC. Retirement Advisers and Client One Securities, LLC are not affiliated.Branch Address: 195 Park Ave Worcester, MA 01609 Branch Phone Number: 888-637-3847
The planning value of a Roth IRA has never been greater. The benefits allow you to manage your tax situation in retirement and transfer tax advantaged wealth to your kids or grandkids. Today we will discuss:(Click on the time stamp to skip ahead)0:00 – Intro1:14 – The scale of the potential impact this can have3:05 – How having tax-advantaged savings can help you in retirement.5:37 – How the SECURE Act made Roth IRA’s more important for wealth transfer7:10 – The significance of this for younger workers.For more information about this topic, please visit: WEB ADDRESS HERE
What is a Roth conversion, what are the tax consequences, and should you do one? Find out during Financial Tip Tuesday with our Vice President and COO, Jason Harris.