One tax strategy may help. Several working together can make a much bigger difference.

In this episode of The Truth About Taxes and Retirement, Barry Watts introduces the idea of “stacking” tax strategies and starts with one of the most common retirement accounts: the 401(k). He explains why small planning decisions can become more powerful when they are combined over time.

Barry also discusses employer matching, when to contribute, Roth versus traditional 401(k) contributions, how investment choices may need to change as retirement gets closer, and why your 401(k) should be considered as part of a larger retirement tax strategy.

This is the first step in a new series focused on building tax strategies that work together rather than searching for one “silver bullet.”

Learn more about building a retirement strategy here: https://wealthcarecorp.com/contact/

Get Watts on Wealth the Book: https://a.co/d/bETW4aY

Website: https://wealthcarecorp.com/

Facebook: https://www.facebook.com/WealthCareCorp

YouTube: https://www.youtube.com/@WattsOnWealth

Podcast: Watts on Wealth Radio Show

https://pod.link/1737485633

Podcast: The Truth About Taxes and Retirement

https://pod.link/1520277576

J. Barry Watts

Springfield’s WealthCare Corporation

#Inflation #RetirementPlanning #WattsOnWealth

Does the word “taxes” make you feel intimidated and overwhelmed right away?

If yes, you’re not alone! It’s completely understandable. After all, the US tax code is 70,000+ pages long.

As someone who deals with taxes daily, J. Barry Watts is here to enlighten you about some tips and strategies you might not know regarding taxes (so it feels less scary to you).

Barry discusses:

• What makes 50% of Americans subject to taxes when they die
• How Social Security taxes and Medicare premiums are calculated
• Multiple ways to make your charitable giving more tax-efficient
• Avoiding a huge mistake while transferring assets (like a home) to the next-gen
• And more

Connect With Barry Watts:

• Schedule an Introductory Call
• PriorityCare@WealthCareCorp.com
• (417) 882-1726
• WealthCareCORP.com
• LinkedIn: J Barry Watts
• LinkedIn: WealthCareCorporation
• Twitter:@jbarrywatts
• YouTube: Watts On Wealth

The post What People Don’t Know About Taxes (Ep. 69) appeared first on Wealthcare.

Do you ever feel that taxation is skewed against the average citizen? Or that wealthy people don’t pay their fair share?

It’s because they know how to use the tax code to their advantage!

In this episode, J. Barry Watts peels back the layers of the tax system and explains how to apply the tax code’s provisions to your benefit — just like the wealthy.

Barry discusses:

• Why people don’t trust the government with their tax money
• What it means to find the “red lights” and “green lights” in the tax code
• Little-known tax-saving strategies (such as investing in rare earth minerals)
• Additional examples of using the tax code to one’s advantage, such as segregated asset plans and the “Augusta Rule”
• Questions you should be asking your CPA
• And more

Connect With Barry Watts:

• Schedule an Introductory Call
• PriorityCare@WealthCareCorp.com
• (417) 882-1726
• WealthCareCORP.com
• LinkedIn: J Barry Watts
• LinkedIn: WealthCareCorporation
• Twitter:@jbarrywatts
• YouTube: Watts On Wealth

The post Why the Wealthy Are Perceived to Not Pay Their Fair Share of Taxes (and you don’t have to, either.) (Ep. 68) appeared first on Wealthcare.