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Retirement Plan Owner's Guide to Beating the New Death Tax
by James Lange

Language

English

Pages

98

Publication Date

July 03, 2019

Product Description
Customer Reviews
<b>On May 23, 2019 the House of Representatives overwhelmingly passed the SECURE Act (Setting Every Community Up for Retirement Enhancement) which would give the IRS carte blanche to confiscate up to one third of your IRA and retirement plans at your death. A more appropriate name for the bill would be the Extreme Death-Tax for IRA and Retirement Plan Owners Act. As we go to press, the SECURE Act is not the law of the land but, based on all the information we have, it or a law that closely resembles the SECURE Act will likely become law effective January 1, 2020.<br /></b><br />I ran the numbers, given certain assumptions, for a million-dollar traditional IRA left to a 45 year old child under the existing law and under the proposed SECURE Act. With the existing law in place, <b>at age 86</b>, that <b>beneficiary</b> still <b>has $2,236,583</b>. By contrast, <b>under the SECURE Act</b> the beneficiary has $0. (You can find the graph charting this comparison and the accompanying assumptions in the book.) The only difference between these two scenarios is when the beneficiary pays taxes. This is the difference between your child being financially secure versus being broke. Congress is trying to gloss over this point. “Secure?” I don’t think so.<br /></b><br /><b>We are distributing this book NOW so you can quickly take the appropriate actions and make appropriate plans to protect your family. Reading this book and taking the right steps can mean the difference between your family being broke and being financially secure.<br /></b><br />The SECURE Act is wrapped with goodies that are of limited benefit to most established IRA and retirement plan owners. <i>Unfortunately</i>, it has a provision that could cost many of the families of IRA and retirement plan owners a <i>million dollars or more</i>.<br /></b><br />The provision seriously modifies the required minimum distribution (RMD) rules for Inherited IRAs and retirement accounts in a way that would, subject to exceptions, cement “the death of the stretch IRA.” Under current law, a non-spouse beneficiary of an Inherited IRA can “stretch” distributions from the account over the course of his or her lifetime by limiting distributions to the required minimums. Using the “stretch” means the beneficiary can keep the bulk of the assets in the tax-deferred environment (for traditional IRAs) or tax-free environment (for Roth IRAs). <br /></b><br />The SECURE Act’s proposed revisions represent a <b>huge</b> and <b>fundamentally negative change</b> to Inherited IRA owners because eliminating the rules that allow them to stretch distributions over their lifetimes robs them of decades upon decades of tax-deferred or tax-free growth. And, it subjects the beneficiaries of traditional (tax-deferred) retirement plans to massive income-tax acceleration. Additionally, for both traditional and Roth Inherited IRAs, once the distributions are made to the beneficiary within 10 years of your death, the accounts will lose the income tax protection that they currently enjoy. Ten years after your death, your beneficiary will have to start paying income taxes on the dividends, interest and realized capital gains.<br /></b><br /><b>Action Points You Should Consider Now</b></br><br />So what can retirement plan owners do to respond to these impending changes? How can they protect the financial legacy they hope to leave for their children and grandchildren?<br /></b><br />In this book you’ll discover solutions including:<br /></b><br />• Roth IRA conversions,</br><br />• Social Security Planning,</br><br />• Reviewing and revising your Estate Plan including the Beneficiary Designations of your Retirement Plans,</br><br />• Gifting,</br><br />• Charitable Trusts, and <i>more</i>.</br><br />The changes in the laws governing stretch IRAs have the potential to be so severe that I want readers to act even before the changes come into effect. I hope this book and the information within will motivate you to take steps toward greater financial security for you and your family.</br>
Tax-Free Wealth: How to Build Massive Wealth by Permanently Lower...
by Tom Wheelwright

Language

English

Pages

Publication Date

September 01, 2018

Product Description
Customer Reviews
After 31 years… Major Tax Reform — and what it means to you True overhaul of the tax law only happens about once every 30 years. In the past 75 years, the U.S. tax law has only seen three major revisions; one in 1954, the next in 1986 and most recently at the end of 2017. I have been fortunate as a tax professional to be heavily involved in the last two reforms. In 1986, I was a manager in the National Tax Department (NTD) of Ernst & Whinney (now Ernst Young). My primary responsibility during my three years there was to create, teach and administer tax courses to the Firm’s U.S. tax professionals. Just as I arrived in the summer of 1985, I discovered that much of NTD’s resources were being devoted to following the tax reform bill that had been introduced that year. This gave me, as a young tax professional, some amazing insight into the legislative process as well as the horse trading for tax reform. President Reagan wanted two things; simplicity (the 1985 act was call the Tax Simplification Act of 1985) and he wanted it to be revenue neutral (no net increase to the deficit). It took another year before bill was finally passed as the Tax Reform Act of 1986. (Simplicity took a back seat to other goals of the reform.) In 1986 the big winners from tax reform were individuals, with significantly lower tax rates, insurance companies (who got by relatively unscathed) and businesses. The big loser was real estate investors (the passive loss rules were used as a last-ditch effort to make a “revenue-neutral” bill. The result a few years later was the Savings and Loan debacle accompanied by a massive real estate depression and the government bailing out real estate through the RTC (Resolution Trust Corporation). Fast forward 31 years to 2017. President Trump had promised economic stimulus and had stumbled out of the blocks with the failure to repeal ObamaCare. Everyone thought tax reform would take two years to complete like it had in 1985-1986. Instead, the Republican-controlled Congress was able to use slick procedural rules to pass major tax reform in record time (less than three months from start to finish). The result was a bill the consequences of which and application of which are still largely unknown. Known are the clear winners and losers. Losers include employees with lost deductions for moving, investment expenses and reductions in home mortgage interest and state income tax deductions. Winners include big corporations, with a major tax reduction from 35% to big corporations, with a major tax reduction from 35% to 21%, small businesses, with a 20% net income deduction, and real estate, with major depreciation incentives and the 20% net income deduction given to other small businesses. The key to remember is that very few people had the chance to influence this legislation. Everyone has the same chance to take advantage of the windfalls given to the winners. Employees can choose to be independent contractors and receive the 20% small business deduction. Service professionals who were left out of the 20% deduction can now become C corporations and reduce their tax rate to 21%. Investors who received tax benefits from the costs of investing in the stock market can either begin investing in real estate, with its massive tax benefits, or invest through their Roth IRA or Roth 401(k) and avoid tax altogether on the income and gains from their investments. Tax-Free Wealth is about using the tax law the way it’s meant to be used – as a series of incentives to do what the government wants you to do. This Second Edition incorporates some ideas of how to use the new incentives. The reality is that the incentives don’t really change that much. The government still wants businesses to hire employees, so businesses receive tax benefits for doing so. The government still wants investors to provide housing for renters (even more so now), so real estate investors receive large tax breaks for following through on the government’s goals....
Discrimination and Disparities
by Thomas Sowell

Language

English

Pages

312

Publication Date

March 05, 2019

Product Description
Customer Reviews
<div><b>An enlarged edition of Thomas Sowell's brilliant examination of the origins of economic disparities</b></div><div><i><br /></i></div><div><div>Economic and other outcomes differ vastly among individuals, groups, and nations. Many explanations have been offered for the differences. Some believe that those with less fortunate outcomes are victims of genetics. Others believe that those who are less fortunate are victims of the more fortunate.</div><div><br /></div><div><i>Discrimination and Disparities</i> gathers a wide array of empirical evidence to challenge the idea that different economic outcomes can be explained by any one factor, be it discrimination, exploitation, or genetics. This revised and enlarged edition also analyzes the human consequences of the prevailing social vision of these disparities and the policies based on that vision--from educational disasters to widespread crime and violence.</div></div>
The Overtaxed Investor: Slash Your Tax Bill & Be A Tax Alpha Dog
by Philip DeMuth

Language

English

Pages

329

Publication Date

March 17, 2016

Product Description
Customer Reviews
Then the so-called American Taxpayer Relief Act of 2012 makes long-range tax planning possible for the first time in a decade. Because tax rates skyrocketed, it also has become necessary. <br /><br />Being tax-smart is now more important than ever. In our low-return environment, high taxes on investments gnaw like rats on your profits. Taxes need to be the first thing an investor considers, not an afterthought. Today you have to start with taxes.<br /><br />Bestselling investment author Phil DeMuth decrypts the 73,954 pages of tax code to show you where the trip-wires lie. He offers simple rules of thumb to navigate the minefield, all in sparkling English.<br /><br />If you aren’t playing the long game with your taxes now, you are sending a valentine to the U.S. Treasury every April 15 with a needlessly fat check attached. DeMuth shows how to safely pare your investment tax bill down to the legal minimum requirement. It adds up to a small fortune that would be better spent on your life, your family, and your retirement. <br />
Get What's Yours: The Secrets to Maxing Out Your Social Security ...
by , Paul Solman

Language

English

Pages

385

Publication Date

February 17, 2015

Product Description
Customer Reviews
<b>Social Security law has changed! <i>Get What’s Yours </i>has been revised and updated to reflect new regulations that took effect on April 29, 2016.</b><BR><BR><i>Get What’s Yours</i> has proven itself to be the definitive book about how to navigate the forbidding maze of Social Security and emerge with the highest possible benefits. It is an engaging manual of tactics and strategies written by well-known financial commentators that is unobtainable elsewhere. You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but academia’s Kotlikoff, the popular press’s Moeller, and public television’s Solman explain the Social Security system just as comprehensively, and a lot more comprehensibly. Moreover, they demonstrate that what you don’t know can seriously hurt you: wrong decisions about which Social Security benefits to apply for cost individual retirees tens of thousands of dollars in lost income every year. (Some of those people are even in the book.)<BR> <BR>Changes to Social Security that take effect in 2016 make it more important than ever to wait as long as possible (until age 70, if possible) to claim Social Security benefits. The new law also has significant implications for those who wish to claim divorced spousal benefits (and how many Social Security recipients even know about divorced spousal benefits?). Besides addressing these and other issues, this revised edition contains a chapter explaining how Medicare rules can shape Social Security decisions.<BR> <BR>Many other personal-finance books briefly address Social Security, but none offers the full, authoritative, yet conversational analysis of <i>Get What’s Yours.</i><BR> <BR><i>Get What’s Yours</i> explains Social Security benefits through basic strategies and stirring stories. It covers the most frequent benefit scenarios faced by married retired couples; by divorced retirees; by widows and widowers. It explains what to do if you’re a retired parent of dependent children; disabled; an eligible beneficiary who continues to work. It addresses the tax consequences of your choices, as well as the financial implications for other investments. It does all this and more.<BR> <BR>There are more than 52 million Americans aged 54 to 69. Ten thousand of them reach Social Security’s full retirement age of 66 every day. For all these people—and for their families and friends—<i>Get What’s Yours</i> has proven to be an invaluable, and therefore indispensable, tool.
Nomad Capitalist: How to Reclaim Your Freedom with Offshore Bank ...
by Andrew Henderson

Language

English

Pages

286

Publication Date

April 09, 2018

Product Description
Customer Reviews
<p>The world has changed forever. <br /></p><ul><li>Governments have expanded their reach over their citizens’ lives, <br /></li><li>Power is being consolidated by an elite few, and <br /></li><li>The world economy has become more volatile and unpredictable. </li></ul><p>Meanwhile, the internet, a globalizing world economy, and the emergence of the developing world present opportunities to anyone willing to make simple changes to their life. </p><p>Geography is no longer a limitation for those willing to follow Andrew Henderson’s ‘Five Magic Words’ and <strong>“Go where you’re treated best.” </strong></p><p>As the world’s most sought-after expert on offshore tax planning, second passports, and global citizenship - cited by the BBC, Bloomberg, Elite Daily and more - Andrew has condensed his last ten years of investigative world travel into an unprecedented book to help entrepreneurs and investors keep more of their own money, live where they want, become citizens of the world, and improve their lives and the planet. </p><p>Direct. Honest. Experienced. Unapologetic. Practical. Transparent. Even funny. The Nomad Capitalist will show you how to take his “E-K-G” formula to:<br /></p><ul><li> ENHANCE your personal lifestyle, <br /></li><li>KEEP more of your money, and <br /></li><li>GROW your money by living, investing, banking, and doing business overseas. </li></ul><p>From foreign companies to offshore accounts and from overseas investments to dual citizenship, you’ll find everything you need to know to begin a life of international proportions, storing gold in super-secret vaults, finding love in exotic locations, and improving everything from your health to your tax bill by simply “going where you’re treated best.” </p><p>It is no longer enough to be a digital nomad. Those who want complete freedom from the world’s broken systems <strong>must become Nomad Capitalists</strong>, learning to navigate the world system to reclaim their freedom and rediscover the possibilities of capitalism’s greatest promises.</p><p>Get the book to see how.</p>
Think And Grow Rich
by Napoleon Hill

Language

English

Pages

173

Publication Date

July 10, 2019

Product Description
Customer Reviews
Think and Grow Rich is a motivational personal development and self-help book written by Napoleon Hill and inspired by a suggestion from Scottish-American businessman Andrew Carnegie. While the title implies that this book deals only with how to get rich, the author explains that the philosophy taught in the book can be used to help people succeed in all lines of work and to do or be almost anything they want
The Private Equity Playbook: Management's Guide to Working with P...
by Adam Coffey

Language

English

Pages

186

Publication Date

February 26, 2019

Product Description
Customer Reviews
Private equity firms are on the rise and rapidly changing the game. Today more than 5,500 P.E. firms own tens of thousands of companies, so it is essential for CEOs and senior management executives to understand exactly how private equity firms operate. This invaluable resource can help you devise a winning P.E. game plan for your own company that offers you greater freedom and financial success.<br /> <br />CEO Adam Coffey has almost twenty years of experience building businesses for private equity companies. In this authoritative yet approachable handbook, he covers:<br /><br />· The history and landscape of private equity<br />· Ground rules for finding the right firm to partner with<br />· Techniques for navigating the new governance<br />· Strategies for continued growth in the private equity space<br />· And more.<br /><br />The Private Equity Playbook provides all the coaching you’ll need to compete and win on this new playing field.
The Power of Zero, Revised and Updated: How to Get to the 0% Tax ...
by David McKnight

Language

English

Pages

145

Publication Date

September 04, 2018

Product Description
Customer Reviews
<b>OVER 180,000 COPIES IN PRINT, WITH A NEW CHAPTER ON THE 2018 TAX CUTS.<br /><br /><b>There's a massive freight train bearing down on the average American investor, and it's coming in the form of higher taxes. </b></b><br /><br />The United States Government has made trillions of dollars in unfunded promises for programs like Social Security and Medicare--and the only way to deliver on these promises is to raise taxes. Some experts have even suggested that tax rates will need to double, just to keep our country solvent. Unfortunately, if you're like most Americans, you've saved the majority of your retirement assets in tax-deferred vehicles like 401(k)s and IRAs. If tax rates go up, how much of your hard-earned money will you really get to keep? <br /><br />In THE POWER OF ZERO, McKnight provides a concise, step-by-step roadmap on how to get to the 0% tax bracket by the time you retire, effectively eliminating tax rate risk from your retirement picture. Now, in this expanded edition, McKnight has updated the book with a new chapter on the 2017 Tax Cuts and Jobs Act, showing readers how to navigate the new tax law in its first year of being in effect, and how they can extend the life of their retirement savings by taking advantage of it now. <br /><br />The day of reckoning is fast approaching. Are you ready to do what it takes to experience the power of zero?
The Relaxing Retirement Formula: For the Confidence to Liberate W...
by Jack Phelps

Language

English

Pages

96

Publication Date

June 18, 2019

Product Description
Customer Reviews
You've worked hard your entire life to save money for your retirement years. But when the day comes to transition, doubt and fear begin to take hold. You wonder whether you've saved enough, how much you can afford to spend, and how to make your Retirement Bucket of investments last. This uncertainty can keep you working longer than you need to or prevent you from confidently spending the money you've saved--undermining the life you've earned after years of disciplined saving.<br /><br /><i>The Retirement Coach</i>, <b>Jack Phelps</b>, says it's natural to approach retirement with anxiety and questions, and in his new book, he gives you the simple formula for answering each one with certainty and precision. The Relaxing Retirement Formula is a step-by-step guide to developing and maintaining the financial confidence you need to liberate the money you've saved and live the life you've always dreamed about.

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