Episode #27: Tax-Deferred Troubles
January 11, 2019
“RETIRE WITH INTEGRITY” PODCAST
Tax-deferred accounts are great investing tools, but you have to be careful with them lest you upset Uncle Sam. Brian explains.
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00:15 – Be Careful With Your Tax-deferred Accounts.
- You can’t escape Uncle Sam forever. When you invest in a tax-deferred account, you’ll eventually have to pay taxes on your gains. If you haven’t planned carefully, you could land yourself a hefty tax bill.
00:30 – Disorganization Is A Problem.
- We meet with several folks who have money in all sorts of accounts. While they have a CPA to help them file their taxes, they don’t typically have someone to help them get organized and engage in preemptive tax planning.
00:53 – Your Tax-Deferred Accounts Can Affect Social Security.
- The more you withdraw from your tax-deferred accounts, the more Uncle Sam is able to tax your Social Security benefits. The government considers withdrawals from tax-deferred accounts to be income. Furthermore they’re able to tax your Social Security benefit more depending upon your level of income.
3:03 – A Quick Aside on Tim Tebow And The Importance Of Charitable Giving.
- Brian shares a recent interview with Tim Tebow and discusses the important of giving back.
The host: Brian Bowen – Contact
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