35. New Taxes Threaten Your Retirement

The Truth About Taxes and Retirement

There’s a lot of talk in Washington about potential new taxes, but what impact will those changes in tax law have on you personally? In this episode, J Barry Watts unpacks the impact proposed tax law changes may have on you in before or in retirement. Barry covers some of the proposals in President Biden’s Build Back Better agenda. He explains how legislative risk can evolve over time to greatly impact your retirement. Finally, Barry explains LIRPs, little known and under-utilized strategies to reduce retirement income taxes and why you should have one if you do not already. Barry discusses: Proposed spending in Build Back Better and how it will affect wealthy taxpayers The proposal that would prohibit you from converting your taxable IRA over to a Roth Legislative risk for business owners Why we should start thinking about retirement savings vehicles that are subject to legislative risk And more Resources: How to Have More Tax Free Income in Retirement Connect With Barry Watts: [e-mail] 800-278-1755 SavingYouTaxes.com LinkedIn: J Barry Watts LinkedIn: SavingYouTaxes

The post 35. New Taxes Threaten Your Retirement appeared first on Wealthcare.