Episode Transcript
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Speaker 1 (00:00):
All these years you've saved up planning for secure retirement,
but if you're not careful, it will be the irs
that's living it up when you retire by taxing your
hard earned money. Welcome to the Maggie Tax and Financial
Hour with Robert and Chris Maggie of Maggie Tax Advisory
and Financial Group. With over thirty years of combined experience
and tax savings, income planning and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty or visit Maggie
Tax dot Com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:53):
Welcome everyone. I'm Chris Maggie, and thank you so much
for tuning into our show. I'm here with my dad
and cos of the show Robert Maggie. Today we will
welcome you and we want you to visit our website,
Maggie Tax dot com. There's so much information right there
at your fingertips. There's seminars, there's learning about your tax bill.
There's so much to discover right there about your personal finances.
(01:13):
So pick up the phone, schedule time to meet with
us a three to three Maggie Tax. That's eight three
to three Maggie Tax. Just visit our website, Maggie Tax
dot com. So today we're going to talk about five
personal finance misunderstanding things that you should not fall victim to.
So welcome Dad, and let's jump right into the show.
Speaker 3 (01:31):
So many people make mistakes, as we see every day
when we meet with clients. But handling your personal finances
it's essential to comfortable living, but it can be much
easier said than done when you don't really understand what's
going on. Knowledge is power, and like we always say,
you don't know what you don't know. So meeting with
a financial advisor like Maggie Tax, we can help you out.
(01:52):
And with so many misunderstandings that's floating in the air,
getting a full grasp on the subject, some people think
it's impossible because some people think I can't learn it.
But you can, and Maggie tax is here to clear
up some of these misunderstandings so that you don't fall
victim to them.
Speaker 4 (02:08):
So let's talk about number one.
Speaker 3 (02:09):
Number one, no investment account type is safer or riskier
than another. Let me repeat that no investment account type
is safer or riskier than another. And some people may
opt out of their four to one K in favor
of an IRA or roth IRA or vice versa because
they believe that one account type is safer than the other.
And I think, Chris, what we have found out on
(02:31):
that is they don't understand what that account is. The
definition of a qualified account or a four to one K,
and what makes an investment risky has to do with
the stock that's being invested in. That's invested in, not
the account that you're using to invest with. So kind
of separate that. When an IRA four one K is
and you know what's in that account.
Speaker 2 (02:50):
Well that's just it. You know, an IRA and a
four one K. There's both qualified accounts, And basically what
that means is that you have restrictions on those. You
can put a certain amount in. If you put the money,
you have to wait a certain amount of time until
you start taking the money out. And when you have
an IRA four one K, most of those are pre
tax dollars, so you get a tax deduction going in,
(03:10):
but in the future it's all taxable. But they also
have qualified accounts and also WROTH four to one ks
where it's vice versa, where it goes ahead and you
put the money in. Today it's after tax going in,
but in the future it's all tax free. So these
are things that you have to talk about. But when
you talk about the risk, technically you can invest in
the exact same stocks in an IRA as you can
(03:32):
in a form one K. So the misunderstanding is that, well,
I'm just going to take my money out of a
four one K to be safer in an IRA. You can,
but you have to make sure that you understand the
vehicle that you're investing your money in.
Speaker 3 (03:43):
I agree with that, and one of the main differences Chris,
between these accounts involves the rules that you must follow
in order to use them you mentioned a few minutes ago.
Some may have a funding limit, while others may have
penalties for pulling out early.
Speaker 4 (03:56):
That's a big problem where people don't realize.
Speaker 3 (03:58):
Underage fifty nine and a half in a qualified account.
You take money out of a four one K or
an I area, you're going to wind up with a
penalty ten percent penalty.
Speaker 4 (04:06):
For early withdrawal and a tax.
Speaker 3 (04:07):
And many times when we see a tax return, I
know people are sometimes you know, they need money and
they take it out without the direction of wait, we
can take it out of another account that is not
going to get a penalty or a tax. And Chris,
we see that so many times.
Speaker 2 (04:20):
That's it. So if you have a distribution that you
need to make, make sure you take it from the
right account. So pick up the phone, schedule time to
meet with us. Let's go over that for you. There's
different types of qualified plans and it's very essential that
you pull out the funds from the right spot to
avoid the penalty and also the tax.
Speaker 3 (04:37):
You know, and again that's one of the reason why
we're doing the seminars. Go to our website Maggie tax
dot com look for seminars. Register for our state planning,
tax planning and social security planning. We discussed this and
this is what you need to do to learn to
get educated. You have to go back to school, start
from the ground up and understand what you have because
if you sit there and do nothing, that's not the
(04:57):
plan and that's not going to solve your problem. So
get it educated and visit our website, Maggie tax dot com.
So number two, diversifying funds does not dilute your ability
to make a profit. So if someone tells you that
there's no point in making a multitude of small investments
because you won't make as much of a return, then
they don't understand the first rule of safe investing. So
(05:18):
you should never put all your eggs in one basket.
We agree with that, and that's especially true in receiving stocks.
If you put your entire savings into a single stock
and listen and it doesn't turn out in your favor,
then there's not much that you can do. But by
having a diverse investment portfolio with a wide range of
various stocks, it's easier to control your overall profit. And Chris,
(05:39):
that's what we do when we talk about manage money.
There's more choices than people and you come across this
every day. In a four to one K or a IRA,
they have limited choices. But in a managed account, and
talk about that, there are more portfolios to choose from
to do what they want for risk or safe money.
Speaker 2 (05:55):
Well, that's just it. You know, many people just really
don't know what they don't know, and that's okay because
they're just not educated fully in and where you can
invest your money. But in a formal K you are
limited to different types of mutual funds. Most of the
time you maybe have ten or fifteen or maybe even
twenty different funds to choose from. And you might have
three large growth funds or two small cap funds, maybe
(06:17):
one international fund. But again you might not have a
variety of options to choose from. But rolling your money
over into an IRA individual retirement account, you have that
ability to invest in multiple investments that you just don't
have in the formal K. So you're talking about diversification
and should you have one stock, should you have multiple
(06:37):
amounts of stock. So that's why the managed portfolios is
so important. If you're looking for an investment plan, we
can help pick up the phone, schedule time to meet
with us. Because our investment side of this, we have
investment portfolios that have a specific purpose, whether it's dividend
producing portfolios, whether it's a buffered index portfolio, whether it's
an inflation protection portfolio, whether it's an absolute yield portfolio
(07:00):
or maybe an aggressive portfolio with the best large cap
small cab stock. So we have to look at this
based on your risk. But when you come in to
meet with us, we can first analyze what you currently
have and see if there's something that might be better
for you where you can take less risk get more return.
These things that we could talk about when you come
in and meet with us. So pick up the phone,
schedule time to meet with us. Eight three three Maggie Tacks.
(07:23):
Get a second opinion on your investments because your current
advisor cannot do that for you. Eight three to three
Maggie Tacks.
Speaker 3 (07:30):
So thing about what we're just talking about. Is it
easy for one person to do all that? No, If
you get some financial advice from a complete planner like
Maggie Tax, then you get all the questions answered and
then you can make And the keyword is choice, your
choice of what you should do.
Speaker 4 (07:44):
So if you want safety, we can give it to you.
If you want risk, we can give it to you.
Speaker 3 (07:48):
And many times, Chris, we meet with husband and wife
and the husband wants more risk, the wife doesn't. We've
seen that so many times, and in the end what
happens is when you satisfy the wife or the husband
what they want, it's a lot easier to present the
plan and they get it. They finally understand I didn't
know that. My advisor many times doesn't tell them that.
Speaker 2 (08:07):
Well, let's just say, you know, let of people really
just don't know what they can and can't do, and
they just think, well, one thing four one K or
one thing stocks. Well, that's just not the case. There's
a lot of different options that you could invest your
money into that you have a purpose with. There're safe
accounts where there are no fees, there are risky accounts
where there are fees. There's loads in some positions out
(08:31):
there which you don't want to have to get into
if you don't have to. So meet with the right advisor.
Make sure that you're asking questions. But when you come
meet with us Maggie Tax Maggi Investments, we'll sit down
and we'll educate you on what you can and can't do,
and then we'll align that with the risk that you
want to take and also the goals and your income.
And that's why we do complete planning is tax planning
(08:52):
investment planning, estate planning, social security maximization planning. That's what
we do. Pick up the phone eight three to three
Magi tex.
Speaker 3 (08:59):
And also it's called buck get planning. What Chris is mentioned,
you know income planning, you know a safe money and
later money. Many people think they have a pile of
money and it's got to be the whole pile that
they start taking money out of. But that's not correct.
If you do proper planning for income today that you
need income maybe in five years or ten years, and
then you put all this together with social security and
(09:19):
maybe a pension. Now you have a plan. Now you
have a retirement plan that you can know that you're
going to get guaranteed income. So when we talk about
our seminars, when we talk about a state planning and
tax planning and social security planning, I encourage all of
you to go to our website Maggie tax dot com
and register for the three and one seminar. Because without
a will, probate court and the estate decide what happens
(09:41):
to your assets after you've gone, and that's going to
impact many for a state taxes, so enhanced planning could
help you reduce your estate's exposure to taxes. Many of
you listening know that you've gone we parents have gone
through probate. What are you going to do about it?
What about your tax bill and retirement?
Speaker 4 (09:58):
Could it be too big?
Speaker 3 (10:00):
In thirty seconds, we'll show you what your tax bill
is going to be. If you have an IRA or
a four to oh one K, or even a TSP
or any tax deferred retirement account, you will want to
know what your tax bill is going to be.
Speaker 4 (10:11):
And then last, social Security. Social Security can be confusing.
Speaker 3 (10:15):
So for many of you that are getting to be
on Social Security or trying to figure out when you
should take it sixty two, sixty six, or how it's taxed.
That's why you need to register for the three and
one seminar. Go to Maggie tax dot com look for seminars.
We have seminars every week and they're very educational. It's
a lot of fun, but you're going to walk away
with information. Maggie Tax dot Com. Pick up the phone,
(10:37):
give us a call eight three to three Maggie Tax.
Set a time today and let's get together. And just
another reminder, Every Sunday at ten thirty, tune into the
Maggie Tax and Financial Show on ABC TV. That's ten
thirty on ABC TV to the Maggie Tax and Financial
Show eight three to three Maggie Tax.
Speaker 1 (10:58):
Stop planning for Uncle Sam's or timeirement and start planning
for your retirement. As we return to the Maggie Tax
and Financial Hour with your host, father and son Robert
and Chris Maggie. For additional information on how you can
create a tax free retirement, visit Maggie Tax dot com.
That's Maggi tax dot com or call eight one three
(11:20):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty. Now your host for
the Maggie Tax and Financial Hour, Father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (11:37):
Welcome back to the Maggie Tax and Financial Show. I'm
Chris Maggie and I'm here with my dad and coast
of the show, Robert Maggie. And as always, we are
so grateful to be here because there's so much information
to talk about. People need education, and they come to
us because they're looking for advice and they're looking for
ways to help them during retirement, whether it's creating more
income in creating an income plan for them where guaranteed
(11:59):
incomes streams come in for the rest of their life,
or creating a family pension where they out can't outlive,
or they're investment planning. Many people come to us and
they have questions about their investments and an old four
one K that they need to roll over, or what
about their current accounts. They want to maximize the market
or protect against downside losses. So there's a lot of
different things that we do to help people. Also estate planning.
(12:22):
Many people have no wills or trusts or power of
attorneys where their beneficiary forms aren't even right, so that's
what we do. We do a lot. It's called holistic planning.
So I'm glad to offer these services to many people
out there who are listening. If you have any questions,
just pick up the phone, schedule time to meet with us.
Visit our website at Maggie Tax dot com. That's m
Aggi tax dot com and don't forget Every Sunday on
(12:44):
ABC TV at ten thirty am, tune into our show,
The Magi Tax and Financial Show. So eight three to
three Maggie Tax. Schedule time to meet with us.
Speaker 4 (12:53):
And to make it easy.
Speaker 3 (12:54):
If you go to our website, Maggie tax dot com,
go to seminars. We do two seminars a month and
we're going to be doing it every month throughout the year.
They're at libraries, they're educational, they're on taxes, they're on retirement.
What Chris mentioned before, a state planning. A lot of
people don't have a will or a trust power of attorney.
And the funny thing about that is when we talk
about that, we usually get someone coming in that said,
(13:15):
they just lost their parent or they lost you know,
a relative, and now it's too late for them because
they don't have the documents. Folks, please take that serious.
It's real important. Get your documents in a row and
visit our website, Maggie Tax. You can see what we
have there. So Chris, we've been talking about, you know,
roth conversions. A lot of people out there question it,
they don't know how to do it, and some people
(13:37):
that we see that have done it have done it
wrong because they're paying way too much in taxes.
Speaker 4 (13:41):
And that's our specialty.
Speaker 3 (13:42):
So sit down with Chris and I let's do a
tax review, because then you'll see exactly what taxes you're
going to pay and what you can say. I mean,
we're going to show you some examples in a second
here because this is reality. This is what happens when
you come in to meet with Chris and I. We
can help you understand that you know what you're going
to make the final decision.
Speaker 2 (13:58):
Well example here where it's real, but we're gonna make
sure that you understand that this could happen to you
and this could be you. So we had a client
that came in at a six hundred and seventy five
thousand dollars IRA. It's in a brokerage account, just sitting there.
A client did not need the money, just letting it grow.
First off, they had no idea what they're invested in.
So when we did the analysis, who broke that down
(14:20):
and they were actually taking more risk than what they
really wanted to. So there what we call risk level
was very probably balanced, but what they're investing in is
very aggressive. So we had to dial that back a
little bit and we showed them that their advisor is
really not paying attention to their account and if the
market does go down, then guess what, They're going to
lose a lot of money. So they did not want
(14:43):
that and they want an adjustment. So we helped them
put together an investment plan with different buckets of money
with a different purpose. And that's what we're talking about here.
Whether it's dividends, whether it's safety, whether it's using ways
to hedge against inflation. That was are the buckets that
we created for this client. Now, not only that, we
took it to another approach and said, well, let's talk
(15:04):
about future money and what's taxable, what's tax free? And
she said, well, I have no tax free money. And
we talked about first the required minimum distribution. So she's
seventy years old and in a couple of years, at
seventy three, she's going to have to take out what
they call the required minimum distribution. And when you come
in to meet with us, we could run this for you,
but at assuming a five percent, just very conservative growth
(15:28):
rate on six hundred and seventy five thousand dollars, at
age seventy three, she has to take out twenty eight
thousand dollars of required minimum distribution. Whether she wants to
or not, she has to take that money out, and
every year after she has to take the distributions and
as You'll see as the account gets bigger, guess what
happens to the distributions, more taxes, more taxes, they get bigger,
(15:50):
and then now she has to pay more taxes. And
she said, well, how do I get rid of this?
So we ran the example and we showed her that
if she continues to to stay on the course that
she's currently on, she's going to pay one hundred and
fifty thousand dollars on taxes on her Requirementum distributions throughout
her lifetime. When she reinvests those Requirementum distributions, she's going
(16:12):
to pay another fifty five thousand dollars. And then when
she passes away, she's going to pay another one hundred
and thirty five thousand dollars to her beneficiaries because it's
all taxable. So that six hundred and seventy five thousand
dollars IRA, she's going to pay three hundred and forty
thousand dollars in tax and that's just at current tax rates,
and if they increase in the future, guess what she's
(16:34):
going to pay more. So what do we do? We said, Hey,
let's talk about tax free buckets. Let's convert some money
from an IRA to a roth IRA. So when we
reallocated the funds and did the conversion, she has to
pay one hundred and thirty five thousand dollars in tax
and that's it. She has no more taxes on her
requirement of distribution. When she passes away in the future,
(16:56):
she has no tax to the beneficiaries. So she said, well,
one hundred thirty five thousand is better than three hundred
and forty thousand dollars, isn't it. And we said yeah,
but let's do it the SMARTLAE. We can pay it
on one momth sum or we could do it over time,
so that one hundred and thirty four thousand dollars we
can convert over a five year, seven year, ten year pay.
(17:16):
And guess what Dad tell me. How she felt after that.
Speaker 4 (17:19):
She was surprised. She didn't know.
Speaker 3 (17:20):
And what made her really understand is why should I
pay more in taxes? Because what Chris also needs I
didn't mention, but he will. It affects it her part
being a part d if she keeps taking that money out,
So when you look back on it, you got to
you got to figure out if we can do it,
you know, strategically to reduce the tax on the ERMA
which is going to increase, and the Part D.
Speaker 4 (17:41):
And that's what people don't get it.
Speaker 3 (17:42):
So when we explain what he just did here to people,
it's it's a it's a multitude of things that you
don't know that are going to affect your IRA, and
it's going to be higher taxes all the way across
the board.
Speaker 2 (17:53):
So when someone's in the situation with evan IRA, what's
the best advice you would give to do to get
ahead of this sitution situation?
Speaker 3 (18:00):
Well, number one is what we're talking about here today.
Let's sit down and take a look at it and
see what the numbers look like, and if it makes
sense to do it strategically, where you take a less
tax out than more, why would you not do that?
Because now what Chris just explained to you, she has
all tax free money.
Speaker 4 (18:17):
And she could take it out.
Speaker 3 (18:18):
It doesn't affect her social Security, it doesn't affect her ERMA,
and it doesn't affect her Part B and D. And
that's the story, folks, that you have to pay attention to,
because no one's talking about that.
Speaker 2 (18:28):
And that's just it. So we talked about two roads
she can stay on the same road like everybody else
and pay more taxes in the future. And when legislative
risk and the tax rates change, she's going to pay
a heck of a lot more as she gets older.
Or you can get in the tax free lane and
avoid and pay less tax if not any you could
be in a tax free environment for the rest of
(18:48):
your life and your account grows. Guess what taxes are
not there anymore because you already pay them, So thick
up the phone and schedule time to meet with us.
Eight three three Maggie Tax. That's a three to three
Maggie tax.
Speaker 1 (19:03):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie Tax dot com. That's
ma Ggi tax dot com or call eight one three
(19:25):
three two two twenty five twenty that's eight one three
three two two twenty five twenty Now your host for
the Maggie Tax and Financial Hour, Father and son from
Maggie Tax Advisory and Financial Group. Robert and Chris.
Speaker 3 (19:40):
Maggie, Welcome back, and you're listening to the Maggie Tax
and Financial Show. I am Robert Maggie and I'm here
with Chris Maggie. We've been talking about retirement planning and
poor choices. But some of the times that we meet
with clients and I always ask this question Chris dous too,
but where is it printed that you have to lose
twenty thirty or forty percent in the market.
Speaker 4 (20:00):
You've seen two thousand and one, two thousand and eight
and it goes down.
Speaker 3 (20:02):
And just before that happened, people were ready to retire,
you know, they were happy, they had everything in place,
and boom it hit the fan. What did you do
about it? Now it comes back? I know, But where
is it written that you have to have that plan?
And Chris, I get really concerned when I see people
come and say, yeah, I lost one hundred thousand and
everybody did.
Speaker 4 (20:22):
Is that true that everybody lost one hundred thousand?
Speaker 2 (20:25):
Not everybody? And you don't have to, but if you're
in the environment where you're in red money and it
goes up and down, then yeah, you will lose a
good amount of money. And do you want to be there?
That's the thing. Do you want to be in red
money or do you want to be in green money?
Or do you want to be in yellow money? Which
is it that you want to be? Do you even
know what those are? And if you don't, that's okay.
That's why we talk about the retirement learning library, the language.
(20:47):
We need to understand what it is because there are
strategies where you could protect yourself. You know, again, where
is it written, Where is it printed that you have
to lose twenty thirty forty percent in the market? You
don't have to. The truth is it's not written anywhere.
You know. Let's discuss what we mean by poor choices
because many advisors make poor choices for their clients. Many
clients have no idea, They just make poor choices by themselves.
(21:09):
But many of you can contribute to a form okay
or an IRA without determining if you're receiving a worthwhile
upfront tax deduction. You know a lot of people we
hear out there, there's many advisors to say buy term
and invest the difference, Well, is that the right plan?
I don't know? But again is that your situation? What
if you hear this one use tax deferral to reduce
income taxes. Now we hear this one life insurance is
(21:32):
allows the investment. You know, all these are ridiculously inaccurate
statements because these are tools that you can use. You
can use tax deferral for your benefit. You can use
life insurance for your benefit. You can buy term insurance
for your benefit. You can buy certain investments for your benefit.
You can buy annuities for your benefit. There's different ones
that you can buy that make sense for your particular situation.
(21:55):
So when we talk about the language, meet with the
right advisor. Change your thinking to what it should be.
Because now when you change your thinking and look through
the different lens, you might see an opportunity where you
should be putting your money and having a plan for
your retirement. A three to three mag attacks.
Speaker 3 (22:10):
You know, all this has to do with one other word,
legislat your risk. That's because the government could change the
rules anytime they want, and they're going to and they
have been. So do you all believe the government has
your back in these scenarios? Seriously? I mean, you're on
your own. Chris mentioned before, we are in the yoyo economy,
So why would you believe these declarations because that's what
we were taught to believe. Folks, you got to cross
(22:32):
the line and get onto the other side of the
street and take a look from a different lens that
Chris is talking about. So who do the practices ultimately benefit?
Think about that, you know, ask them. Remember we live
in a yoyo economy and that means you're on your own.
So when we say meet with Maggie tax and talk
about the Maggie plan, because maybe your advisor isn't talking
about the plan except for stocks, bonds and mutual funds
(22:54):
and that's getting old to me. But because we've seen
so many people lose money, but there are ways that
you can still invest in the market and not lose
money like some people have. And the only reason why
I say that is because you don't understand the language.
And just because the majority of you follow the herd,
it doesn't mean that you have to follow them. You know,
if they're going to jump off the cliff, are you
(23:14):
going with them?
Speaker 4 (23:15):
Stop? Come back, take a look at it.
Speaker 3 (23:18):
Maybe there's something else that we could help you with,
you know, and remember it's the language that confuses a
lot of people.
Speaker 4 (23:23):
Chris.
Speaker 3 (23:23):
So let's take this step by step. Folks, come in,
make an appointment. Let's talk from the ground up. Let's
get everything on the table. Let's talk about what you're
concerned about. And it's a basic understanding of income planning,
a tax planning, retirement planning, social security planning, medicare planning.
And what I'm saying probably affects everyone listening to the show, Chris,
because there's a majority of people that one size does
(23:45):
not fit all.
Speaker 2 (23:47):
And that's just it, you know, getting educated, and you're
totally right, every situation is different, and let's just take
the step by step because it's a basic understanding. Well,
let's talk about income taxes and understand this that most
financial professionals and literally all of you out there probably
have little or no understanding of how income taxes work.
So how do we know this? Because we understand when
(24:07):
we ask people what kind of tax liability do you have?
Or what's your effective tax bracket? Or how does your
income or your investments correlateel your or your tax turn
a lot of people don't know. But think about this.
Sixty one percent of Americans pay no federal income tax.
Think about that. Sixty one percent of Americans pay no
federal income taxes, and yet they contribute to tax the
(24:30):
deductible for one case, tax deductible iras four oh three
v's and four to fifty seven plans. They get a
tax deduction on the front side and they build that
money up and that pile it gets bigger and bigger.
But it could be tax of twenty percent, thirty percent,
or even forty percent on the backside. Is that really
a good thing?
Speaker 3 (24:48):
Hold lot a second, because you this is this is
really important what Chris just said. They give you a
tax deduction because everybody says, well, I'm making too much money.
I need a tax deduction. So what do you have Now?
Most people have a standard deduction, can't itemize anymore. So
they give you this deduction of a certain amount that
you can put into an IRA of four oh one k,
and that's it. There's a cap, there's a ceiling on it, Chris,
(25:09):
So they stop you. But then on the back end,
you say for twenty or thirty years in a tax
deferred account, and now you come to the line and
you got to.
Speaker 4 (25:17):
Pay taxes on the full amount.
Speaker 3 (25:19):
What's the advantage of the tax deduction versus now paying
tax again?
Speaker 2 (25:24):
Because they just didn't know what they didn't know. And
this person or these people think about it. Sixty one
percent of the people out there don't pay federal income tax.
So why are you putting money into a tax deductible
environment you don't have to? Why not have after tax
money go in so your future is tax free. That's
what we're talking about here, tax free income. They're a
(25:45):
strategy that you can develop now to have tax free
buckets so when they do raise taxes in the future,
you don't have to have fault. You don't have to
fall victim to them. That's what we're talking about. It's
not going to concern you. But in this situation that
we're talking about here, you follow the out You the
same thing that your advisor has been doing for twenty years.
Things have changed. My gosh, Why put money in tax
(26:05):
deferred investments when you don't have to? So pick up
the phone, schedule time to meet with us. Eight three
to three, Maggie Tax And.
Speaker 3 (26:12):
One thing you said before. We can kind of prove
what we're just discussing here if you take the time
and sit down and do a mock tax return. And
this is what I would say, and Chris and I
see this. Don't take the tax deduction. Okay, make the income,
but budget your money, you know the right way, and
put that in a tax free account for twenty of
thirty years. And I can tell you that from what
(26:34):
we've seen, you're gonna pay no taxes in retirement. So
you're in control, not controlled, Chris, how important. And I
have to stop there because people don't look at it.
They run in the fast lane, stop making the contribution,
or some people putting so much in it and they're
getting maybe a match, but they're still losing when they're
in the market, and it's not benefiting them because when
(26:54):
they get to the finish line, it's sixty five whatever
it is. They got a whole half a million million
dollar taxable account at forty to fifty percent.
Speaker 2 (27:03):
Help me here, we let's just say it. People don't
know the back end because they just want immediate gratification.
They want the tax deduction. Now you know, we talk
about tax season. They all want to pay the least
man taxes. I get it, but again, why not put
yourself in situations where maybe you pay a little more
in tax right now, but you reap the rewards of
tax free income. In the future when tax rates are
(27:24):
so much more higher. So that's why we talk about
get the Maggie Plan. It's an income plan, it's a
tax plan, it's an investment plan, it's an insurance plan,
it's a state planning. That's what we do. It's called
a complete plan. If you have an incomplete plan, then
pick up the phone call us because we can complete
it eight three to three Maggie Tax. Get a plan
that's simple and easy for you to understand. Why, because
(27:46):
you need to understand. You need to understand what you have.
This is your money, not ours. It's your money, not
your advisors. It's your money, not your CPA's, it's your money.
Make sure that you have it allocated the right way
so you take advantage of the growth, the cunt, the
contribution amounts, the tax free buckets, and also the tax
reduction strategies.
Speaker 3 (28:06):
You know, we try to make it easy for everybody.
That's what we call it simple and easy to understand.
Visit Maggie Tax dot com, click on the retirement calculator.
I'm challenging all of you do that right now or
go home, or when you do it in the office,
but in thirty seconds, I can show you what your
retirement tax bill will look like and we can help.
And we call it the Maggie Plan, And I promise
(28:26):
you this. It's simple and easy to understand. It's not
sharts and grabs and past performances. It's your retirement plan,
it's your future. How do you want it to look?
So you know, I know we've done it so many
times for people and it's helped eight three to three
MAGI tax operators are standing by right now as we speak.
Tell them you want to make an appointment. There's no cost,
there's no obligation. We have offices in Saint Pete in
(28:48):
Loots and also palm Harvest, so it's very convenient for
all of you to come in. We could do it
on a zoom call if you feel more comfortable with it,
but either way, get an appointment and let's discuss yourment.
Speaker 2 (29:00):
That's just it. You know, get educated me with us.
Why because I'm sure when you do, you love clarity,
the confidence, and you'll understand what you can and can't
do in your retirement and then you know what you
need to do. You need to put more away to
retire or can you retire? Now met with a gentleman
last week and he basically just cried in our office
and we we understand and understand why why Because he
(29:25):
he was got to the point where he thought all
he had to do is go to work everything, continue
to save and save and save and save and save.
And he said, I got about six more years because
I have to get to a certain dollar amount. And
we sat back and I said, let me show you
that you can retire today, and you can have guaranteed
income and you can do everything you want to do.
You don't have to shoot for that number like he
was taught twenty five years ago. What he can do
(29:48):
now if he puts his money in the right bucket,
says have a purpose with everything. He can have the
income bucket coming in for the rest of his life.
He can have play checks where he can spend those
amounts of money each and every month on whatever he wants.
He can have buckets of money that he would draw
his money to go on a cruise or to or
(30:08):
a trip to another country. Whatever he wants to do,
he can have it. But now he can do that
because he has a plan. He understands what his money's
going to do for him, and also he understands what
his tax turns going to look like in retirement. So
now he knows he's in an effective tax bracket of
twelve percent. He does not to pay anymore. He's set,
but all the money he gets, it's all net of taxes.
(30:30):
And that's what his main concern was. I want to retire,
I want income, I want buckets of money, and I
want access it if I need to. So you can
to pick up the phone schedule time it goes eight
three to three Maggie Tax. And again that's eight three
to three Magi Tax.
Speaker 1 (30:47):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
get a tax free retirement, visit Maggie Tax dot com.
That's ma gg I tax dot com or call eight
(31:08):
one three three two two twenty five twenty. That's eight
one three three two two twenty five twenty. Now your
host for the Maggie Tax and Financial Hour, Father and
son from Maggie Tax Advisory and Financial Group, Robert and
Chris Maggie.
Speaker 2 (31:26):
Welcome back to the MAGI Tax and Financial Show, and
thank you so much for tuning in today. And we've
been talking about investment debt and getting out of debt
in a good way. Many people think about credit cards,
but I'm not talking about that. I'm talking about the
investment debt that you have on all your retirement accounts.
And think about this. You have IRA's form and k's
thrift savings plans four O three b's four fifty seven plans.
(31:48):
Guess what those accounts are infected with taxes. And if
you're infected with something, it's not a good thing, right,
So if your retirement accounts are infected with taxes, that
means you have an unknown question tax rate that has
to come out. You have a debt to the irs
when you start taking distributions, and many people don't know that.
(32:08):
They look at their statements each and every month and
they say, oh my gosh, it's up ten grand, it's
down ten it's up thirty thousand, it's up forty thousand,
it's doing great. But guess what, when you start taking
a distribution, it's taxable, So what are you doing about it.
That's the planning that comes into play. That has to
be there in your retirement to make sure you have
a solid plan. And if you don't have a plan,
(32:30):
when you're talking about taxes and investments and income, you
need to pick up the phone and schedule time to
meet with us. Eight three to three magi tax. That's
eight three to three magi tax.
Speaker 4 (32:39):
And when you put a.
Speaker 3 (32:40):
Plan together, you're talking about putting a tax plan, an
income plan, an investment plan, an insurance plan. So how
can you do it in an efficient way so that
you're not shooting yourself in the foot. While you're going
to try to go tax free? You have to pay
the taxes first period. So what we're going to show
you is the least amount of taxes and then it's
not going to be a hard decision for you to
make because if you have the cash and we can
(33:02):
do it from there, you do it now so that
later on you don't have this big tax.
Speaker 2 (33:05):
Now, that's it. Let's talk about that. So when someone
comes in, what are we gonna do. Well, we understand
taxes obviously, so what we can do is show you
right there, will show you what your current tax return
looks like. Then we'll break it down and we'll show
you what if we converted twenty thousand or fifty thousand
from an IRA to a wroth. Well, you have to
pay the tax to get there, right, So we understand
that we're talking about buying out the irs. Let's do
(33:27):
that at a cheaper rate as opposed to later on
where it's very expensive. So we can show you to
you and we can break this down, and we can
sit down and show you what the tax turn will
look like. And you say, I like that strategy. I
like that strategy, but I don't like the other strategy.
That's fine. This is your money. We can put together
a plan and show you options that you can you
can you can own and feel good about it because
(33:49):
when you start building a tax free bucket, what you
have done is you eliminated. Uncle Sam and my dad
talked about putting your retirement plan in pencil. Well, let's
put it in pen where it's permanent, where you know
that you don't have to pay taxes forever and ever
and ever and ever again. Now, many people don't have
that ability, but you can if you come meet with us,
(34:11):
because we'll show you ways to create a tax deduction.
We'll show you ways to get the money out in
the most tax efficient way eight three to three MAGI
tax will go through that for you schedule time to
meet with us, you'll meet with us eight three to
three magi tax.
Speaker 4 (34:24):
So here's how one of the ideas works.
Speaker 3 (34:26):
The goal is we're going to start with your retirement
account because that's the one that's taxed the most. So
we use and just use this for concept because when
you come in we'll explain it. But we use a
five year conversion period and at the end of this
time period in which we do the series of structured conversions.
We call them structured because what Chris just said, will
take out a certain amount one year, certain amount the
(34:46):
second year from a tax return, where we convert the
money over to a roth ira And basically the goal
is that you want to have at least the same
amount as you started with.
Speaker 4 (34:56):
Let me repeat that.
Speaker 3 (34:57):
So if you have five hundred thousand now, then five
years when you start converting, we have to use an
investment vehicle that's going to get you back to where
you were five years ago. And that's how we do
bucket planning. So take a second explain how that works,
because it's three buckets that we use to get there.
Speaker 2 (35:12):
That's it. So let's just give an example. What if
we had three buckets and you have one hundred thousand dollars. Well,
what if you put twenty thousand dollars in bucket one,
and we put thirty thousand in bucket two and fifty
thousand and bucket three. Well, what we're designing here is
an income plan. So that first bucket, a bucket one
of twenty grand Let's give you income off of that
for the next five years guaranteed. But that in five
(35:34):
years is going to go down to zero. And many
people say, oh my gosh, I don't want my account
to going down to zero. Well, just bucket one is,
but what about bucket two and bucket three. So when
bucket one is given you income, bucket two and three
are growing. And guess what now you have just as much,
if not more income and value there. But now what
after five years? Now you turn on bucket two. So
(35:55):
now bucket two gives you guaranteed income for life, but
now that goes down the zero after five years. Then
you might start thinking, well, I have no money. No,
you forgot about bucket three. Bucket three grows back to
where you started originally and you could do it all
over again. So that's when we start talking about bucket
planning and income planning, where you can have income and
you don't run out of money, you live off of
(36:17):
the interest and you live it off of the way
where you can create it, where you have buckets doing
different things with different strategies that you're protected and diversified
in a lot of different ways. That's income planning right now.
What about tax planning, Well, we can use the same
concept where we can get money that's infected with taxes,
eliminate Uncle Sam and create a tax free bucket. So
(36:38):
now you don't have to worry about paying Uncle Sam
ever and ever and ever again. So who cares what
an amount, what tax rates are going to be? Who
cares if tax rates go up? It doesn't matter to
clients of ours who have tax free buckets because they
don't have to worry about it. That's where your retirement
plan is written in pen instead of pencil.
Speaker 3 (36:58):
So what you want to do is call office eight
three three Maggie Tax and tell them you want to
do this. We're going to tell you what it is.
It's called a strategic rollout. It's called a strategic rollout
and bucket planning. And if your advisor's not talking about this,
then you know, shame on them. They're not giving you
the whole story. And you're going to have a tax
free rough account, which Chris said, you're going to have
paid all the taxes over five or ten year period
(37:20):
at the lowest amount, and you're going to have tax
free income.
Speaker 4 (37:23):
How good is that?
Speaker 3 (37:24):
So by the time that we're done, you probably have
more than what you started with.
Speaker 2 (37:28):
And one more thing, you're going to eliminate Uncle Sam.
Who wants to eliminate Uncle Sam? Well, if I can
eliminate the person who's causing taxes, guess what, that's a
great feeling to have.
Speaker 3 (37:38):
And it's it's kind of funny because when we show
this to people, it's shocking and they always say, well,
I've never heard this before. What's because your advisor doesn't
talk about taxes, doesn't talk about income planning, talk about
you know, retirement planning, talk about IRA rm ds and
how it's going to affect everything that you do. Eight
three to three Maggie, tax I hope today was helpful
to you getting out of debt to the irs. It's
(37:59):
going to be here for a long time. You need
to do something about it. Eight three to three Maggie Tax.
Visit our website Maggie Tax dot com. Click on seminars
and register for the seminar the user at the library.
Speaker 4 (38:10):
They're educational. We talk about everything.
Speaker 3 (38:13):
Eight three three Maggie Tax and visit our website Maggie
Tax dot com. You're listening to the Maggie Tax and
Financial Show. Eight three three Maggie Tax.
Speaker 1 (38:22):
You've been listening to the Maggie Tax and Financial Hour
discussing tax planning investment strategies, presented by Robert and Chris
Maggie from Maggie Tax Advisory and Financial Services with offices
in Hillsboro and Panelas County. Visit Maggie Tax dot com
or call eight one three three two two twenty five twenty.
That's eight one three three two two twenty five twenty
(38:44):
and tune in next Saturday at five for the Maggie
Tax and Financial Hour
All these years you've saved up planning for secure retirement,
but if you're not careful, it will be the irs
that's living it up when you retire by taxing your
hard earned money. Welcome to the Maggie Tax and Financial
Hour with Robert and Chris Maggie of Maggie Tax Advisory
and Financial Group. With over thirty years of combined experience
and tax savings, income planning and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty or visit Maggie
Tax dot Com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:53):
Welcome everyone. I'm Chris Maggie, and thank you so much
for tuning into our show. I'm here with my dad
and cos of the show Robert Maggie. Today we will
welcome you and we want you to visit our website,
Maggie Tax dot com. There's so much information right there
at your fingertips. There's seminars, there's learning about your tax bill.
There's so much to discover right there about your personal finances.
(01:13):
So pick up the phone, schedule time to meet with
us a three to three Maggie Tax. That's eight three
to three Maggie Tax. Just visit our website, Maggie Tax
dot com. So today we're going to talk about five
personal finance misunderstanding things that you should not fall victim to.
So welcome Dad, and let's jump right into the show.
Speaker 3 (01:31):
So many people make mistakes, as we see every day
when we meet with clients. But handling your personal finances
it's essential to comfortable living, but it can be much
easier said than done when you don't really understand what's
going on. Knowledge is power, and like we always say,
you don't know what you don't know. So meeting with
a financial advisor like Maggie Tax, we can help you out.
(01:52):
And with so many misunderstandings that's floating in the air,
getting a full grasp on the subject, some people think
it's impossible because some people think I can't learn it.
But you can, and Maggie tax is here to clear
up some of these misunderstandings so that you don't fall
victim to them.
Speaker 4 (02:08):
So let's talk about number one.
Speaker 3 (02:09):
Number one, no investment account type is safer or riskier
than another. Let me repeat that no investment account type
is safer or riskier than another. And some people may
opt out of their four to one K in favor
of an IRA or roth IRA or vice versa because
they believe that one account type is safer than the other.
And I think, Chris, what we have found out on
(02:31):
that is they don't understand what that account is. The
definition of a qualified account or a four to one K,
and what makes an investment risky has to do with
the stock that's being invested in. That's invested in, not
the account that you're using to invest with. So kind
of separate that. When an IRA four one K is
and you know what's in that account.
Speaker 2 (02:50):
Well that's just it. You know, an IRA and a
four one K. There's both qualified accounts, And basically what
that means is that you have restrictions on those. You
can put a certain amount in. If you put the money,
you have to wait a certain amount of time until
you start taking the money out. And when you have
an IRA four one K, most of those are pre
tax dollars, so you get a tax deduction going in,
(03:10):
but in the future it's all taxable. But they also
have qualified accounts and also WROTH four to one ks
where it's vice versa, where it goes ahead and you
put the money in. Today it's after tax going in,
but in the future it's all tax free. So these
are things that you have to talk about. But when
you talk about the risk, technically you can invest in
the exact same stocks in an IRA as you can
(03:32):
in a form one K. So the misunderstanding is that, well,
I'm just going to take my money out of a
four one K to be safer in an IRA. You can,
but you have to make sure that you understand the
vehicle that you're investing your money in.
Speaker 3 (03:43):
I agree with that, and one of the main differences Chris,
between these accounts involves the rules that you must follow
in order to use them you mentioned a few minutes ago.
Some may have a funding limit, while others may have
penalties for pulling out early.
Speaker 4 (03:56):
That's a big problem where people don't realize.
Speaker 3 (03:58):
Underage fifty nine and a half in a qualified account.
You take money out of a four one K or
an I area, you're going to wind up with a
penalty ten percent penalty.
Speaker 4 (04:06):
For early withdrawal and a tax.
Speaker 3 (04:07):
And many times when we see a tax return, I
know people are sometimes you know, they need money and
they take it out without the direction of wait, we
can take it out of another account that is not
going to get a penalty or a tax. And Chris,
we see that so many times.
Speaker 2 (04:20):
That's it. So if you have a distribution that you
need to make, make sure you take it from the
right account. So pick up the phone, schedule time to
meet with us. Let's go over that for you. There's
different types of qualified plans and it's very essential that
you pull out the funds from the right spot to
avoid the penalty and also the tax.
Speaker 3 (04:37):
You know, and again that's one of the reason why
we're doing the seminars. Go to our website Maggie tax
dot com look for seminars. Register for our state planning,
tax planning and social security planning. We discussed this and
this is what you need to do to learn to
get educated. You have to go back to school, start
from the ground up and understand what you have because
if you sit there and do nothing, that's not the
(04:57):
plan and that's not going to solve your problem. So
get it educated and visit our website, Maggie tax dot com.
So number two, diversifying funds does not dilute your ability
to make a profit. So if someone tells you that
there's no point in making a multitude of small investments
because you won't make as much of a return, then
they don't understand the first rule of safe investing. So
(05:18):
you should never put all your eggs in one basket.
We agree with that, and that's especially true in receiving stocks.
If you put your entire savings into a single stock
and listen and it doesn't turn out in your favor,
then there's not much that you can do. But by
having a diverse investment portfolio with a wide range of
various stocks, it's easier to control your overall profit. And Chris,
(05:39):
that's what we do when we talk about manage money.
There's more choices than people and you come across this
every day. In a four to one K or a IRA,
they have limited choices. But in a managed account, and
talk about that, there are more portfolios to choose from
to do what they want for risk or safe money.
Speaker 2 (05:55):
Well, that's just it. You know, many people just really
don't know what they don't know, and that's okay because
they're just not educated fully in and where you can
invest your money. But in a formal K you are
limited to different types of mutual funds. Most of the
time you maybe have ten or fifteen or maybe even
twenty different funds to choose from. And you might have
three large growth funds or two small cap funds, maybe
(06:17):
one international fund. But again you might not have a
variety of options to choose from. But rolling your money
over into an IRA individual retirement account, you have that
ability to invest in multiple investments that you just don't
have in the formal K. So you're talking about diversification
and should you have one stock, should you have multiple
(06:37):
amounts of stock. So that's why the managed portfolios is
so important. If you're looking for an investment plan, we
can help pick up the phone, schedule time to meet
with us. Because our investment side of this, we have
investment portfolios that have a specific purpose, whether it's dividend
producing portfolios, whether it's a buffered index portfolio, whether it's
an inflation protection portfolio, whether it's an absolute yield portfolio
(07:00):
or maybe an aggressive portfolio with the best large cap
small cab stock. So we have to look at this
based on your risk. But when you come in to
meet with us, we can first analyze what you currently
have and see if there's something that might be better
for you where you can take less risk get more return.
These things that we could talk about when you come
in and meet with us. So pick up the phone,
schedule time to meet with us. Eight three three Maggie Tacks.
(07:23):
Get a second opinion on your investments because your current
advisor cannot do that for you. Eight three to three
Maggie Tacks.
Speaker 3 (07:30):
So thing about what we're just talking about. Is it
easy for one person to do all that? No, If
you get some financial advice from a complete planner like
Maggie Tax, then you get all the questions answered and
then you can make And the keyword is choice, your
choice of what you should do.
Speaker 4 (07:44):
So if you want safety, we can give it to you.
If you want risk, we can give it to you.
Speaker 3 (07:48):
And many times, Chris, we meet with husband and wife
and the husband wants more risk, the wife doesn't. We've
seen that so many times, and in the end what
happens is when you satisfy the wife or the husband
what they want, it's a lot easier to present the
plan and they get it. They finally understand I didn't
know that. My advisor many times doesn't tell them that.
Speaker 2 (08:07):
Well, let's just say, you know, let of people really
just don't know what they can and can't do, and
they just think, well, one thing four one K or
one thing stocks. Well, that's just not the case. There's
a lot of different options that you could invest your
money into that you have a purpose with. There're safe
accounts where there are no fees, there are risky accounts
where there are fees. There's loads in some positions out
(08:31):
there which you don't want to have to get into
if you don't have to. So meet with the right advisor.
Make sure that you're asking questions. But when you come
meet with us Maggie Tax Maggi Investments, we'll sit down
and we'll educate you on what you can and can't do,
and then we'll align that with the risk that you
want to take and also the goals and your income.
And that's why we do complete planning is tax planning
(08:52):
investment planning, estate planning, social security maximization planning. That's what
we do. Pick up the phone eight three to three
Magi tex.
Speaker 3 (08:59):
And also it's called buck get planning. What Chris is mentioned,
you know income planning, you know a safe money and
later money. Many people think they have a pile of
money and it's got to be the whole pile that
they start taking money out of. But that's not correct.
If you do proper planning for income today that you
need income maybe in five years or ten years, and
then you put all this together with social security and
(09:19):
maybe a pension. Now you have a plan. Now you
have a retirement plan that you can know that you're
going to get guaranteed income. So when we talk about
our seminars, when we talk about a state planning and
tax planning and social security planning, I encourage all of
you to go to our website Maggie tax dot com
and register for the three and one seminar. Because without
a will, probate court and the estate decide what happens
(09:41):
to your assets after you've gone, and that's going to
impact many for a state taxes, so enhanced planning could
help you reduce your estate's exposure to taxes. Many of
you listening know that you've gone we parents have gone
through probate. What are you going to do about it?
What about your tax bill and retirement?
Speaker 4 (09:58):
Could it be too big?
Speaker 3 (10:00):
In thirty seconds, we'll show you what your tax bill
is going to be. If you have an IRA or
a four to oh one K, or even a TSP
or any tax deferred retirement account, you will want to
know what your tax bill is going to be.
Speaker 4 (10:11):
And then last, social Security. Social Security can be confusing.
Speaker 3 (10:15):
So for many of you that are getting to be
on Social Security or trying to figure out when you
should take it sixty two, sixty six, or how it's taxed.
That's why you need to register for the three and
one seminar. Go to Maggie tax dot com look for seminars.
We have seminars every week and they're very educational. It's
a lot of fun, but you're going to walk away
with information. Maggie Tax dot Com. Pick up the phone,
(10:37):
give us a call eight three to three Maggie Tax.
Set a time today and let's get together. And just
another reminder, Every Sunday at ten thirty, tune into the
Maggie Tax and Financial Show on ABC TV. That's ten
thirty on ABC TV to the Maggie Tax and Financial
Show eight three to three Maggie Tax.
Speaker 1 (10:58):
Stop planning for Uncle Sam's or timeirement and start planning
for your retirement. As we return to the Maggie Tax
and Financial Hour with your host, father and son Robert
and Chris Maggie. For additional information on how you can
create a tax free retirement, visit Maggie Tax dot com.
That's Maggi tax dot com or call eight one three
(11:20):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty. Now your host for
the Maggie Tax and Financial Hour, Father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (11:37):
Welcome back to the Maggie Tax and Financial Show. I'm
Chris Maggie and I'm here with my dad and coast
of the show, Robert Maggie. And as always, we are
so grateful to be here because there's so much information
to talk about. People need education, and they come to
us because they're looking for advice and they're looking for
ways to help them during retirement, whether it's creating more
income in creating an income plan for them where guaranteed
(11:59):
incomes streams come in for the rest of their life,
or creating a family pension where they out can't outlive,
or they're investment planning. Many people come to us and
they have questions about their investments and an old four
one K that they need to roll over, or what
about their current accounts. They want to maximize the market
or protect against downside losses. So there's a lot of
different things that we do to help people. Also estate planning.
(12:22):
Many people have no wills or trusts or power of
attorneys where their beneficiary forms aren't even right, so that's
what we do. We do a lot. It's called holistic planning.
So I'm glad to offer these services to many people
out there who are listening. If you have any questions,
just pick up the phone, schedule time to meet with us.
Visit our website at Maggie Tax dot com. That's m
Aggi tax dot com and don't forget Every Sunday on
(12:44):
ABC TV at ten thirty am, tune into our show,
The Magi Tax and Financial Show. So eight three to
three Maggie Tax. Schedule time to meet with us.
Speaker 4 (12:53):
And to make it easy.
Speaker 3 (12:54):
If you go to our website, Maggie tax dot com,
go to seminars. We do two seminars a month and
we're going to be doing it every month throughout the year.
They're at libraries, they're educational, they're on taxes, they're on retirement.
What Chris mentioned before, a state planning. A lot of
people don't have a will or a trust power of attorney.
And the funny thing about that is when we talk
about that, we usually get someone coming in that said,
(13:15):
they just lost their parent or they lost you know,
a relative, and now it's too late for them because
they don't have the documents. Folks, please take that serious.
It's real important. Get your documents in a row and
visit our website, Maggie Tax. You can see what we
have there. So Chris, we've been talking about, you know,
roth conversions. A lot of people out there question it,
they don't know how to do it, and some people
(13:37):
that we see that have done it have done it
wrong because they're paying way too much in taxes.
Speaker 4 (13:41):
And that's our specialty.
Speaker 3 (13:42):
So sit down with Chris and I let's do a
tax review, because then you'll see exactly what taxes you're
going to pay and what you can say. I mean,
we're going to show you some examples in a second
here because this is reality. This is what happens when
you come in to meet with Chris and I. We
can help you understand that you know what you're going
to make the final decision.
Speaker 2 (13:58):
Well example here where it's real, but we're gonna make
sure that you understand that this could happen to you
and this could be you. So we had a client
that came in at a six hundred and seventy five
thousand dollars IRA. It's in a brokerage account, just sitting there.
A client did not need the money, just letting it grow.
First off, they had no idea what they're invested in.
So when we did the analysis, who broke that down
(14:20):
and they were actually taking more risk than what they
really wanted to. So there what we call risk level
was very probably balanced, but what they're investing in is
very aggressive. So we had to dial that back a
little bit and we showed them that their advisor is
really not paying attention to their account and if the
market does go down, then guess what, They're going to
lose a lot of money. So they did not want
(14:43):
that and they want an adjustment. So we helped them
put together an investment plan with different buckets of money
with a different purpose. And that's what we're talking about here.
Whether it's dividends, whether it's safety, whether it's using ways
to hedge against inflation. That was are the buckets that
we created for this client. Now, not only that, we
took it to another approach and said, well, let's talk
(15:04):
about future money and what's taxable, what's tax free? And
she said, well, I have no tax free money. And
we talked about first the required minimum distribution. So she's
seventy years old and in a couple of years, at
seventy three, she's going to have to take out what
they call the required minimum distribution. And when you come
in to meet with us, we could run this for you,
but at assuming a five percent, just very conservative growth
(15:28):
rate on six hundred and seventy five thousand dollars, at
age seventy three, she has to take out twenty eight
thousand dollars of required minimum distribution. Whether she wants to
or not, she has to take that money out, and
every year after she has to take the distributions and
as You'll see as the account gets bigger, guess what
happens to the distributions, more taxes, more taxes, they get bigger,
(15:50):
and then now she has to pay more taxes. And
she said, well, how do I get rid of this?
So we ran the example and we showed her that
if she continues to to stay on the course that
she's currently on, she's going to pay one hundred and
fifty thousand dollars on taxes on her Requirementum distributions throughout
her lifetime. When she reinvests those Requirementum distributions, she's going
(16:12):
to pay another fifty five thousand dollars. And then when
she passes away, she's going to pay another one hundred
and thirty five thousand dollars to her beneficiaries because it's
all taxable. So that six hundred and seventy five thousand
dollars IRA, she's going to pay three hundred and forty
thousand dollars in tax and that's just at current tax rates,
and if they increase in the future, guess what she's
(16:34):
going to pay more. So what do we do? We said, Hey,
let's talk about tax free buckets. Let's convert some money
from an IRA to a roth IRA. So when we
reallocated the funds and did the conversion, she has to
pay one hundred and thirty five thousand dollars in tax
and that's it. She has no more taxes on her
requirement of distribution. When she passes away in the future,
(16:56):
she has no tax to the beneficiaries. So she said, well,
one hundred thirty five thousand is better than three hundred
and forty thousand dollars, isn't it. And we said yeah,
but let's do it the SMARTLAE. We can pay it
on one momth sum or we could do it over time,
so that one hundred and thirty four thousand dollars we
can convert over a five year, seven year, ten year pay.
(17:16):
And guess what Dad tell me. How she felt after that.
Speaker 4 (17:19):
She was surprised. She didn't know.
Speaker 3 (17:20):
And what made her really understand is why should I
pay more in taxes? Because what Chris also needs I
didn't mention, but he will. It affects it her part
being a part d if she keeps taking that money out,
So when you look back on it, you got to
you got to figure out if we can do it,
you know, strategically to reduce the tax on the ERMA
which is going to increase, and the Part D.
Speaker 4 (17:41):
And that's what people don't get it.
Speaker 3 (17:42):
So when we explain what he just did here to people,
it's it's a it's a multitude of things that you
don't know that are going to affect your IRA, and
it's going to be higher taxes all the way across
the board.
Speaker 2 (17:53):
So when someone's in the situation with evan IRA, what's
the best advice you would give to do to get
ahead of this sitution situation?
Speaker 3 (18:00):
Well, number one is what we're talking about here today.
Let's sit down and take a look at it and
see what the numbers look like, and if it makes
sense to do it strategically, where you take a less
tax out than more, why would you not do that?
Because now what Chris just explained to you, she has
all tax free money.
Speaker 4 (18:17):
And she could take it out.
Speaker 3 (18:18):
It doesn't affect her social Security, it doesn't affect her ERMA,
and it doesn't affect her Part B and D. And
that's the story, folks, that you have to pay attention to,
because no one's talking about that.
Speaker 2 (18:28):
And that's just it. So we talked about two roads
she can stay on the same road like everybody else
and pay more taxes in the future. And when legislative
risk and the tax rates change, she's going to pay
a heck of a lot more as she gets older.
Or you can get in the tax free lane and
avoid and pay less tax if not any you could
be in a tax free environment for the rest of
(18:48):
your life and your account grows. Guess what taxes are
not there anymore because you already pay them, So thick
up the phone and schedule time to meet with us.
Eight three three Maggie Tax. That's a three to three
Maggie tax.
Speaker 1 (19:03):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie Tax dot com. That's
ma Ggi tax dot com or call eight one three
(19:25):
three two two twenty five twenty that's eight one three
three two two twenty five twenty Now your host for
the Maggie Tax and Financial Hour, Father and son from
Maggie Tax Advisory and Financial Group. Robert and Chris.
Speaker 3 (19:40):
Maggie, Welcome back, and you're listening to the Maggie Tax
and Financial Show. I am Robert Maggie and I'm here
with Chris Maggie. We've been talking about retirement planning and
poor choices. But some of the times that we meet
with clients and I always ask this question Chris dous too,
but where is it printed that you have to lose
twenty thirty or forty percent in the market.
Speaker 4 (20:00):
You've seen two thousand and one, two thousand and eight
and it goes down.
Speaker 3 (20:02):
And just before that happened, people were ready to retire,
you know, they were happy, they had everything in place,
and boom it hit the fan. What did you do
about it? Now it comes back? I know, But where
is it written that you have to have that plan?
And Chris, I get really concerned when I see people
come and say, yeah, I lost one hundred thousand and
everybody did.
Speaker 4 (20:22):
Is that true that everybody lost one hundred thousand?
Speaker 2 (20:25):
Not everybody? And you don't have to, but if you're
in the environment where you're in red money and it
goes up and down, then yeah, you will lose a
good amount of money. And do you want to be there?
That's the thing. Do you want to be in red
money or do you want to be in green money?
Or do you want to be in yellow money? Which
is it that you want to be? Do you even
know what those are? And if you don't, that's okay.
That's why we talk about the retirement learning library, the language.
(20:47):
We need to understand what it is because there are
strategies where you could protect yourself. You know, again, where
is it written, Where is it printed that you have
to lose twenty thirty forty percent in the market? You
don't have to. The truth is it's not written anywhere.
You know. Let's discuss what we mean by poor choices
because many advisors make poor choices for their clients. Many
clients have no idea, They just make poor choices by themselves.
(21:09):
But many of you can contribute to a form okay
or an IRA without determining if you're receiving a worthwhile
upfront tax deduction. You know a lot of people we
hear out there, there's many advisors to say buy term
and invest the difference, Well, is that the right plan?
I don't know? But again is that your situation? What
if you hear this one use tax deferral to reduce
income taxes. Now we hear this one life insurance is
(21:32):
allows the investment. You know, all these are ridiculously inaccurate
statements because these are tools that you can use. You
can use tax deferral for your benefit. You can use
life insurance for your benefit. You can buy term insurance
for your benefit. You can buy certain investments for your benefit.
You can buy annuities for your benefit. There's different ones
that you can buy that make sense for your particular situation.
(21:55):
So when we talk about the language, meet with the
right advisor. Change your thinking to what it should be.
Because now when you change your thinking and look through
the different lens, you might see an opportunity where you
should be putting your money and having a plan for
your retirement. A three to three mag attacks.
Speaker 3 (22:10):
You know, all this has to do with one other word,
legislat your risk. That's because the government could change the
rules anytime they want, and they're going to and they
have been. So do you all believe the government has
your back in these scenarios? Seriously? I mean, you're on
your own. Chris mentioned before, we are in the yoyo economy,
So why would you believe these declarations because that's what
we were taught to believe. Folks, you got to cross
(22:32):
the line and get onto the other side of the
street and take a look from a different lens that
Chris is talking about. So who do the practices ultimately benefit?
Think about that, you know, ask them. Remember we live
in a yoyo economy and that means you're on your own.
So when we say meet with Maggie tax and talk
about the Maggie plan, because maybe your advisor isn't talking
about the plan except for stocks, bonds and mutual funds
(22:54):
and that's getting old to me. But because we've seen
so many people lose money, but there are ways that
you can still invest in the market and not lose
money like some people have. And the only reason why
I say that is because you don't understand the language.
And just because the majority of you follow the herd,
it doesn't mean that you have to follow them. You know,
if they're going to jump off the cliff, are you
(23:14):
going with them?
Speaker 4 (23:15):
Stop? Come back, take a look at it.
Speaker 3 (23:18):
Maybe there's something else that we could help you with,
you know, and remember it's the language that confuses a
lot of people.
Speaker 4 (23:23):
Chris.
Speaker 3 (23:23):
So let's take this step by step. Folks, come in,
make an appointment. Let's talk from the ground up. Let's
get everything on the table. Let's talk about what you're
concerned about. And it's a basic understanding of income planning,
a tax planning, retirement planning, social security planning, medicare planning.
And what I'm saying probably affects everyone listening to the show, Chris,
because there's a majority of people that one size does
(23:45):
not fit all.
Speaker 2 (23:47):
And that's just it, you know, getting educated, and you're
totally right, every situation is different, and let's just take
the step by step because it's a basic understanding. Well,
let's talk about income taxes and understand this that most
financial professionals and literally all of you out there probably
have little or no understanding of how income taxes work.
So how do we know this? Because we understand when
(24:07):
we ask people what kind of tax liability do you have?
Or what's your effective tax bracket? Or how does your
income or your investments correlateel your or your tax turn
a lot of people don't know. But think about this.
Sixty one percent of Americans pay no federal income tax.
Think about that. Sixty one percent of Americans pay no
federal income taxes, and yet they contribute to tax the
(24:30):
deductible for one case, tax deductible iras four oh three
v's and four to fifty seven plans. They get a
tax deduction on the front side and they build that
money up and that pile it gets bigger and bigger.
But it could be tax of twenty percent, thirty percent,
or even forty percent on the backside. Is that really
a good thing?
Speaker 3 (24:48):
Hold lot a second, because you this is this is
really important what Chris just said. They give you a
tax deduction because everybody says, well, I'm making too much money.
I need a tax deduction. So what do you have Now?
Most people have a standard deduction, can't itemize anymore. So
they give you this deduction of a certain amount that
you can put into an IRA of four oh one k,
and that's it. There's a cap, there's a ceiling on it, Chris,
(25:09):
So they stop you. But then on the back end,
you say for twenty or thirty years in a tax
deferred account, and now you come to the line and
you got to.
Speaker 4 (25:17):
Pay taxes on the full amount.
Speaker 3 (25:19):
What's the advantage of the tax deduction versus now paying
tax again?
Speaker 2 (25:24):
Because they just didn't know what they didn't know. And
this person or these people think about it. Sixty one
percent of the people out there don't pay federal income tax.
So why are you putting money into a tax deductible
environment you don't have to? Why not have after tax
money go in so your future is tax free. That's
what we're talking about here, tax free income. They're a
(25:45):
strategy that you can develop now to have tax free
buckets so when they do raise taxes in the future,
you don't have to have fault. You don't have to
fall victim to them. That's what we're talking about. It's
not going to concern you. But in this situation that
we're talking about here, you follow the out You the
same thing that your advisor has been doing for twenty years.
Things have changed. My gosh, Why put money in tax
(26:05):
deferred investments when you don't have to? So pick up
the phone, schedule time to meet with us. Eight three
to three, Maggie Tax And.
Speaker 3 (26:12):
One thing you said before. We can kind of prove
what we're just discussing here if you take the time
and sit down and do a mock tax return. And
this is what I would say, and Chris and I
see this. Don't take the tax deduction. Okay, make the income,
but budget your money, you know the right way, and
put that in a tax free account for twenty of
thirty years. And I can tell you that from what
(26:34):
we've seen, you're gonna pay no taxes in retirement. So
you're in control, not controlled, Chris, how important. And I
have to stop there because people don't look at it.
They run in the fast lane, stop making the contribution,
or some people putting so much in it and they're
getting maybe a match, but they're still losing when they're
in the market, and it's not benefiting them because when
(26:54):
they get to the finish line, it's sixty five whatever
it is. They got a whole half a million million
dollar taxable account at forty to fifty percent.
Speaker 2 (27:03):
Help me here, we let's just say it. People don't
know the back end because they just want immediate gratification.
They want the tax deduction. Now you know, we talk
about tax season. They all want to pay the least
man taxes. I get it, but again, why not put
yourself in situations where maybe you pay a little more
in tax right now, but you reap the rewards of
tax free income. In the future when tax rates are
(27:24):
so much more higher. So that's why we talk about
get the Maggie Plan. It's an income plan, it's a
tax plan, it's an investment plan, it's an insurance plan,
it's a state planning. That's what we do. It's called
a complete plan. If you have an incomplete plan, then
pick up the phone call us because we can complete
it eight three to three Maggie Tax. Get a plan
that's simple and easy for you to understand. Why, because
(27:46):
you need to understand. You need to understand what you have.
This is your money, not ours. It's your money, not
your advisors. It's your money, not your CPA's, it's your money.
Make sure that you have it allocated the right way
so you take advantage of the growth, the cunt, the
contribution amounts, the tax free buckets, and also the tax
reduction strategies.
Speaker 3 (28:06):
You know, we try to make it easy for everybody.
That's what we call it simple and easy to understand.
Visit Maggie Tax dot com, click on the retirement calculator.
I'm challenging all of you do that right now or
go home, or when you do it in the office,
but in thirty seconds, I can show you what your
retirement tax bill will look like and we can help.
And we call it the Maggie Plan, And I promise
(28:26):
you this. It's simple and easy to understand. It's not
sharts and grabs and past performances. It's your retirement plan,
it's your future. How do you want it to look?
So you know, I know we've done it so many
times for people and it's helped eight three to three
MAGI tax operators are standing by right now as we speak.
Tell them you want to make an appointment. There's no cost,
there's no obligation. We have offices in Saint Pete in
(28:48):
Loots and also palm Harvest, so it's very convenient for
all of you to come in. We could do it
on a zoom call if you feel more comfortable with it,
but either way, get an appointment and let's discuss yourment.
Speaker 2 (29:00):
That's just it. You know, get educated me with us.
Why because I'm sure when you do, you love clarity,
the confidence, and you'll understand what you can and can't
do in your retirement and then you know what you
need to do. You need to put more away to
retire or can you retire? Now met with a gentleman
last week and he basically just cried in our office
and we we understand and understand why why Because he
(29:25):
he was got to the point where he thought all
he had to do is go to work everything, continue
to save and save and save and save and save.
And he said, I got about six more years because
I have to get to a certain dollar amount. And
we sat back and I said, let me show you
that you can retire today, and you can have guaranteed
income and you can do everything you want to do.
You don't have to shoot for that number like he
was taught twenty five years ago. What he can do
(29:48):
now if he puts his money in the right bucket,
says have a purpose with everything. He can have the
income bucket coming in for the rest of his life.
He can have play checks where he can spend those
amounts of money each and every month on whatever he wants.
He can have buckets of money that he would draw
his money to go on a cruise or to or
(30:08):
a trip to another country. Whatever he wants to do,
he can have it. But now he can do that
because he has a plan. He understands what his money's
going to do for him, and also he understands what
his tax turns going to look like in retirement. So
now he knows he's in an effective tax bracket of
twelve percent. He does not to pay anymore. He's set,
but all the money he gets, it's all net of taxes.
(30:30):
And that's what his main concern was. I want to retire,
I want income, I want buckets of money, and I
want access it if I need to. So you can
to pick up the phone schedule time it goes eight
three to three Maggie Tax. And again that's eight three
to three Magi Tax.
Speaker 1 (30:47):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
get a tax free retirement, visit Maggie Tax dot com.
That's ma gg I tax dot com or call eight
(31:08):
one three three two two twenty five twenty. That's eight
one three three two two twenty five twenty. Now your
host for the Maggie Tax and Financial Hour, Father and
son from Maggie Tax Advisory and Financial Group, Robert and
Chris Maggie.
Speaker 2 (31:26):
Welcome back to the MAGI Tax and Financial Show, and
thank you so much for tuning in today. And we've
been talking about investment debt and getting out of debt
in a good way. Many people think about credit cards,
but I'm not talking about that. I'm talking about the
investment debt that you have on all your retirement accounts.
And think about this. You have IRA's form and k's
thrift savings plans four O three b's four fifty seven plans.
(31:48):
Guess what those accounts are infected with taxes. And if
you're infected with something, it's not a good thing, right,
So if your retirement accounts are infected with taxes, that
means you have an unknown question tax rate that has
to come out. You have a debt to the irs
when you start taking distributions, and many people don't know that.
(32:08):
They look at their statements each and every month and
they say, oh my gosh, it's up ten grand, it's
down ten it's up thirty thousand, it's up forty thousand,
it's doing great. But guess what, when you start taking
a distribution, it's taxable, So what are you doing about it.
That's the planning that comes into play. That has to
be there in your retirement to make sure you have
a solid plan. And if you don't have a plan,
(32:30):
when you're talking about taxes and investments and income, you
need to pick up the phone and schedule time to
meet with us. Eight three to three magi tax. That's
eight three to three magi tax.
Speaker 4 (32:39):
And when you put a.
Speaker 3 (32:40):
Plan together, you're talking about putting a tax plan, an
income plan, an investment plan, an insurance plan. So how
can you do it in an efficient way so that
you're not shooting yourself in the foot. While you're going
to try to go tax free? You have to pay
the taxes first period. So what we're going to show
you is the least amount of taxes and then it's
not going to be a hard decision for you to
make because if you have the cash and we can
(33:02):
do it from there, you do it now so that
later on you don't have this big tax.
Speaker 2 (33:05):
Now, that's it. Let's talk about that. So when someone
comes in, what are we gonna do. Well, we understand
taxes obviously, so what we can do is show you
right there, will show you what your current tax return
looks like. Then we'll break it down and we'll show
you what if we converted twenty thousand or fifty thousand
from an IRA to a wroth. Well, you have to
pay the tax to get there, right, So we understand
that we're talking about buying out the irs. Let's do
(33:27):
that at a cheaper rate as opposed to later on
where it's very expensive. So we can show you to
you and we can break this down, and we can
sit down and show you what the tax turn will
look like. And you say, I like that strategy. I
like that strategy, but I don't like the other strategy.
That's fine. This is your money. We can put together
a plan and show you options that you can you
can you can own and feel good about it because
(33:49):
when you start building a tax free bucket, what you
have done is you eliminated. Uncle Sam and my dad
talked about putting your retirement plan in pencil. Well, let's
put it in pen where it's permanent, where you know
that you don't have to pay taxes forever and ever
and ever and ever again. Now, many people don't have
that ability, but you can if you come meet with us,
(34:11):
because we'll show you ways to create a tax deduction.
We'll show you ways to get the money out in
the most tax efficient way eight three to three MAGI
tax will go through that for you schedule time to
meet with us, you'll meet with us eight three to
three magi tax.
Speaker 4 (34:24):
So here's how one of the ideas works.
Speaker 3 (34:26):
The goal is we're going to start with your retirement
account because that's the one that's taxed the most. So
we use and just use this for concept because when
you come in we'll explain it. But we use a
five year conversion period and at the end of this
time period in which we do the series of structured conversions.
We call them structured because what Chris just said, will
take out a certain amount one year, certain amount the
(34:46):
second year from a tax return, where we convert the
money over to a roth ira And basically the goal
is that you want to have at least the same
amount as you started with.
Speaker 4 (34:56):
Let me repeat that.
Speaker 3 (34:57):
So if you have five hundred thousand now, then five
years when you start converting, we have to use an
investment vehicle that's going to get you back to where
you were five years ago. And that's how we do
bucket planning. So take a second explain how that works,
because it's three buckets that we use to get there.
Speaker 2 (35:12):
That's it. So let's just give an example. What if
we had three buckets and you have one hundred thousand dollars. Well,
what if you put twenty thousand dollars in bucket one,
and we put thirty thousand in bucket two and fifty
thousand and bucket three. Well, what we're designing here is
an income plan. So that first bucket, a bucket one
of twenty grand Let's give you income off of that
for the next five years guaranteed. But that in five
(35:34):
years is going to go down to zero. And many
people say, oh my gosh, I don't want my account
to going down to zero. Well, just bucket one is,
but what about bucket two and bucket three. So when
bucket one is given you income, bucket two and three
are growing. And guess what now you have just as much,
if not more income and value there. But now what
after five years? Now you turn on bucket two. So
(35:55):
now bucket two gives you guaranteed income for life, but
now that goes down the zero after five years. Then
you might start thinking, well, I have no money. No,
you forgot about bucket three. Bucket three grows back to
where you started originally and you could do it all
over again. So that's when we start talking about bucket
planning and income planning, where you can have income and
you don't run out of money, you live off of
(36:17):
the interest and you live it off of the way
where you can create it, where you have buckets doing
different things with different strategies that you're protected and diversified
in a lot of different ways. That's income planning right now.
What about tax planning, Well, we can use the same
concept where we can get money that's infected with taxes,
eliminate Uncle Sam and create a tax free bucket. So
(36:38):
now you don't have to worry about paying Uncle Sam
ever and ever and ever again. So who cares what
an amount, what tax rates are going to be? Who
cares if tax rates go up? It doesn't matter to
clients of ours who have tax free buckets because they
don't have to worry about it. That's where your retirement
plan is written in pen instead of pencil.
Speaker 3 (36:58):
So what you want to do is call office eight
three three Maggie Tax and tell them you want to
do this. We're going to tell you what it is.
It's called a strategic rollout. It's called a strategic rollout
and bucket planning. And if your advisor's not talking about this,
then you know, shame on them. They're not giving you
the whole story. And you're going to have a tax
free rough account, which Chris said, you're going to have
paid all the taxes over five or ten year period
(37:20):
at the lowest amount, and you're going to have tax
free income.
Speaker 4 (37:23):
How good is that?
Speaker 3 (37:24):
So by the time that we're done, you probably have
more than what you started with.
Speaker 2 (37:28):
And one more thing, you're going to eliminate Uncle Sam.
Who wants to eliminate Uncle Sam? Well, if I can
eliminate the person who's causing taxes, guess what, that's a
great feeling to have.
Speaker 3 (37:38):
And it's it's kind of funny because when we show
this to people, it's shocking and they always say, well,
I've never heard this before. What's because your advisor doesn't
talk about taxes, doesn't talk about income planning, talk about
you know, retirement planning, talk about IRA rm ds and
how it's going to affect everything that you do. Eight
three to three Maggie, tax I hope today was helpful
to you getting out of debt to the irs. It's
(37:59):
going to be here for a long time. You need
to do something about it. Eight three to three Maggie Tax.
Visit our website Maggie Tax dot com. Click on seminars
and register for the seminar the user at the library.
Speaker 4 (38:10):
They're educational. We talk about everything.
Speaker 3 (38:13):
Eight three three Maggie Tax and visit our website Maggie
Tax dot com. You're listening to the Maggie Tax and
Financial Show. Eight three three Maggie Tax.
Speaker 1 (38:22):
You've been listening to the Maggie Tax and Financial Hour
discussing tax planning investment strategies, presented by Robert and Chris
Maggie from Maggie Tax Advisory and Financial Services with offices
in Hillsboro and Panelas County. Visit Maggie Tax dot com
or call eight one three three two two twenty five twenty.
That's eight one three three two two twenty five twenty
(38:44):
and tune in next Saturday at five for the Maggie
Tax and Financial Hour
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