Tax Reduction Strategies

Statistics show that most business owners trust their CPA more than their spouse.  The next trusted adviser is their financial adviser.     

Many people have not had their tax returns evaluated to make sure they are legally, ethically, morally getting the maximum tax deductions available.  It is important that your financial plan is designed to work whether the market fails (again) or you get sick, injured, disabled or die early.  Contingencies are very important.  

Many CPA’s prefer to process tax returns which is their preferred specialty.  I find no fault in that.  However, many CPA’s do not focus on the select few IRS codes that allow higher and simpler (less chance of audit) deductions for those who are high income earners or business owners. 

Failed Financial Plans

Too many people wait 30 years to find out that their financial plan was set up to fail from the beginning while, their financial adviser has been always making a profit (fees) from your investment account regardless of the market’s condition.  They tell you not to take money from your investment funds while that is exactly where they get their fees regardless of the condition of the market.   

A perfect financial plan is not a single product or group of funds.  There is no “magic” product to make your wealth grow.  The magic is in the strategy.  A strategy that shows you how to make the most efficient financial decision every time.  We have the unique and highly sought-after financial simulator everybody needs but, few know it exists.   Even fewer people know it exists but, it has been around for 30 years.  

Planning for retirement or managing inherited funds from your parents, require a working knowledge of the IRS Code to keep you from suffering unnecessary stress cased by costly mistakes.  One simple mistake could cost thousands of dollars in penalties legal fees and taxes. This is where our tax experts come in to help you. 

With many baby-boomers in their later years, they are leaving their well-earned retirement accounts to their children but, their children don’t really know what to do with the money to avoid the spend-down rules or tax penalties.  Many baby-boomers want their children to stretch the money out for many years but, they don’t really know how to make that happen.  Now, the tax laws just eliminated the “stretch” option effective December 2019.  

The IRS rules actually change quite frequently.  These changes are in the form of Private Letter Rulings and Revenue Rulings.  Both are very costly and many times these rulings do not favor the children.  These rulings are not well known until your name is listed.  The court cases are not well known unless your name is on the summons.  Once that happens, “everybody knows your name.”  Don’t be that person.  Talk to one of our IRA experts now! 

Business Exit Planning

70% of family businesses do not succesfully transfer to the next generation.  20-30% of businesses actually sell on the open market.  Business owners don’t usually understand the value of their business. 

Personal & Business Insurance

Timesavers Insurance Services LLC provides professional licensed agents who will take time to discuss your insurance needs and create an insurance package that will protect your assets and your family. 

Educational Events

Timesavers Insurance Services LLC provides free financial educational events that introduce unique proven strategies that introduce the financial independence you desire.

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retirement planningHigher Tax-Bracket During Retirement

Financial advisers have many clients convinced they can live off $200,000 during their working years and plan to retire on 40% of their income because, they should expect to be in a “lower tax bracket” during retirement and their expenses will be lower.  I’m not sure what that means but, many people seem to believe this false information.  

There are several “unknown” taxable events that will affect your retirement income.  For example, Social Security will be taxed during retirement.  You will be forced to withdrawal your Social Security money when you are 70 years of age whether you want it or not.  

Social Security was originally non-taxable.  Today, 85% of your Social Security income could be taxed; After your Medicare premiums are taken from your check.  These are some of the factors that can put you in a higher tax-bracket during retirement distribution.  


Have Your Tax Returns Analyzed Today!