CALCULATE YOUR IDEAL NUMBER

One of the keys to paying the least amount of tax in retirement is to have just the right amount of money in tax-deferred accounts like your 401(k) and IRA when you reach retirement. This is called your ‘Ideal Number’.

 

Having this ideal amount of money in your pre-tax accounts allows you to take advantage of your standard deduction (the amount of money you don’t have to pay tax on each year) and stay under the IRS thresholds that trigger taxes on things like your Social Security and Medicare. The rest of your retirement savings should be in tax-free type accounts like Roth accounts.

 

For most people, it is a myth that taking deductions during your working years by putting money into traditional, tax-deferred accounts will save you money on taxes in the long run. The IRS has cleverly designed a system that will line their pockets with your hard earned money in retirement. Learn how to turn the tables on the IRS and pay them the least amount possible with ‘Divorce The IRS”.

 

DEFUSE YOUR

BIGGEST TAX TIME BOMBS!

Your tax-deferred retirement account is a tax time bomb waiting to go off. 

 

401(k)s. IRAs. You think you’re saving money on taxes. But what you’re probably doing is accepting a loan from the IRS—a loan with terrible terms that will come due when you need your money the most: in retirement!

 

With traditional retirement plans, the IRS has designed a tax system that entices you to do exactly what it wants you to do: line its coffers with your money. Millions of people end up wishing they had understood the tax traps earlier—only discovering the harsh financial reality when it’s far too late.

 

Don’t wait. Understand the IRS tax time bombs now, while there’s still time to defuse them.

 

Divorce the IRS: How to Defuse Your Biggest Tax Time Bombs Before You Retire will show you exactly how to avoid or defuse those time bombs, step by step, so you can make the rules work in your favor and turn the tables on the IRS.

Jimmy’s book was featured on the Author Hour podcast. Listen to the interview with Jimmy about the book here!

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BOOK REFERENCES & OTHER INFORMATION

 

  • Calculating your ideal number (www.baobabwealth.com/Ideal-Number)

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