Episode Transcript
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Speaker 1 (00:00):
All these years you've saved up planning for a 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
in 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. My name is Robert Maggie and you're listening
to the Maggie Tax and Financial Show. I'm here with
my son and co host Chris Maggie. Be sure to
visit our website Maggie Tax dot Com and click on
the retirement tax Bill and you can see in thirty
seconds what your tax bill is going to be. So
if you have an IRA or a four to one K,
and now today we're going to be talking about the
(01:13):
new tax bill. And a lot of people are concerned
about what they're going to pay in taxes when they
start taking their money out of the IRA, So we're
going to talk about that today. But again, go to
my website, Maggie Tax dot Com, click on the retirement
tax bill on the top right, put your numbers in
and in thirty seconds they'll give you a report and
that should enlighten you and then make an appointment so
(01:34):
Chris and I can talk to you about it. So again,
visit Maggie Tax dot com and every Sunday at ten thirty,
don't forget to tune into the Maggie Tax and Financial Show. So, Chris,
a lot of things have changed, a lot of things
are going to be changing, and I guess the word
is a lot of people are still going to be confused.
Speaker 3 (01:50):
Well, let's just sit and welcome everyone and thank you
so much for tuning into our show and easion. Every
week we talk about tax planning and income planning and
investment planning and also estate planning, and that's what we
do here at Maggie Tax Advisory and Financial Group. So
visit our website at maggiitax dot com. That's m a
Ggi tax dot com. But today, yeah, let's dive into
the Trump big beautiful bill and how it's going to
(02:12):
impact a lot of people out there.
Speaker 2 (02:13):
Oh yeah, and we get a lot of people calling
right now, So we're going to discuss what the newly
signed federal budget bill may mean for older Americans and
many of you listening today. So number one, there was
major tax changes. This was a big one. It permanently
extends the twenty seventeen tax cuts, no taxes on tips,
a boost to child tax credit, and new deductions. And
(02:35):
this is really going to surface, Chris, when we do
the tax return starting in January for a march in April.
All this is going to come to the head. So
at Maggie Tax and Financial Services, we can help you
navigate what's relevant. You're gonna have many questions is it
good for me? Is it not? We're going to tell
you that going to maximize opportunities and protect against tax surprises,
bringing clarity and strategy to a fast changing landscape. And
(02:59):
the biggest thing, Chris, we talk about language and understanding
the words and how this is going to apply to
each and every one. So I know you're going to
have questions and we're going to try to answer them.
So call eight three to three Maggie Tax right now.
I have operated standing by and be sure to visit
Maggie tax dot com and schedule a review appointment today.
Folks and Chris, you will agree with this. The only
(03:20):
way to understand all of this and get clarity is
to make an appointment, sit down, have a review, and
answer your questions. And that's just it.
Speaker 3 (03:28):
Many people out there have taken advantage of that, you know,
brought in their tax return, but on their investments. Let's
look and see how everything's going to impact one another.
And not only do we do tax preparation, we do
tax planning, but also investment planning and income planning and
estate planning. And that's why we do complete planning. So
if you're looking for an advisor out there who can
take care of everything, that's what we do. You know,
(03:49):
many people think, well, I just got to go to
my tax person, and I got to go to my
investment person. They're not talking. They're not on the same
page where we are. So this tax bill is going
to impact a lot of people. So when you come
in to meet with us, as my dad's mentioning, we
need to look at your plan and what your tax
return is going to look like. So these are things
that are happening. So pick up the phone, schedule time
(04:10):
to meet with us. Eight three three, Maggie Tax.
Speaker 2 (04:12):
We'll stay with what you just said, your plan. The
question is what is your plan? Is it a tax plan?
Is it an income plan? Is it an investment plan?
Is it solid security plan? Is it a state plan.
We do seminars every month on a state and taxes,
and you'd be surprised how many people come to our
seminars and they do not have a plan, Chris. And
it's disappointing because they're adults. Okay, they know this, and
(04:36):
yet they do nothing about it until it hits the fan,
and that's too late. So even now with this new bill,
a lot of things are going to change, so it's
really important to understand it. And a couple things that
they went over was the bill includes cuts to Medicaid, Medicare,
and the Affordable Care Act. I'm not going to go
into that right now, but there are answers that we
can give you. There's new Medicaid work requirements and stricter
(04:58):
eligibility checks. Again, it might apply to some of you,
but we'll go over that as well. There's clean energy
tax credits. They're being eliminated. Listen to this, despite campaign promises.
There's no repeal of Social Security taxes. Up to eighty
five percent of benefits may still be taxed for higher earners.
And thresholds haven't been adjusted since the nineteen eighties. And
(05:20):
this is the thing you and I see all the time.
The thresholds are the same, they've never changed. So now
what has to happen is people think, because of what
they were saying, no tax on Social Security, it only
goes a certain extent. And let me give you an example.
Social Security tax repeal. They're blocked by rules. And this
is important for you to understand. It's called the Bird rule.
(05:41):
The Bird rule prevents major changes to Social Security through reconciliation,
making a full repeal of Social Security taxes procedurally off
limits in this bill. Okay, but what they did give
you is a bonus deduction instead of repeal. So this
bill offers a six thousand dollars bonus standard deduction for
adults sixty five plus okay, phased out above seventy five
(06:04):
thousand for individuals and one hundred and fifty thousand for couples,
and it stacks on top of the regular senior deduction.
And Chris, the reason why that's important is because the
standard deduction now for seniors, for single and couples has changed,
and now if they qualify for this to get another
six thousand, that basically helps them take more money out
(06:26):
of a retirement account, right and pay no tax and
do a conversion.
Speaker 3 (06:29):
Well that's just it, he said a lot there, So
let's kind of digress here a little bit. A lot
of people talked about how there's going to be no
tax on Social Security. Well, that's not going to happen.
It's still going to get taxed if you're over the limits.
And that's why it's so important to do tax planning,
especially with your investments, because if you're pulling money from
your investments the wrong way, then guess what your SOI
Security could be taxed up to eighty five percent. So
(06:51):
with this bill, there's still going to be taxed on
Social Security, but they're giving that bonus deduction for you
six thousand dollars if you qualify, so it looks at
your other income too, and if you make over sev
seventy five thousand dollars for individuals, and if your marrig
file and jointly it's one hundred and fifty thousand. So
you have to make sure that you're under these numbers.
And that's why planning and tax planning and investment planning
(07:13):
is so important, and that's why we can show you
how to maneuver through these things. But there's still going
to be a deduction for you on sol Security, and
if you're married then you get the twelve thousand dollars,
but if you're individual at six thousand, you got to
make sure that you're looking at those limits. So what
we're saying here is that planning is so crucial. You know,
my dad's been talking about the specifics of it, but
(07:34):
you need to understand that we can make this simple
for you. At Maggie Tax Advisor and Financial Group, we
put together complete plans and complanning, tax planning, investment planning,
but we do make things simple and easy for you
to understand. That's our model, and when we go through this,
we're going to help you and strategically think about ways
to reduce your taxes and also look at your investments
(07:54):
and see how they're working together. So pick up the phone,
schedule time to meet with us. Eight three to three
Maggie tax. You know, we come on in, let's have
a conversation. We have offices three across Tampa Bay area
to help you. So whatever's convenient, let's get together a
three three Maggie tacks.
Speaker 2 (08:11):
You know, it's not just about when people come in,
we always ask them how can we help you? A
lot of you hear our show and watch our TV show,
and there are a lot of strategies and concepts that
we can apply. But you have to sit down, and
here's the word I'm gonna use, get serious. If you're serious,
that's fine. But if you're just curious and you're just looking,
that's not a problem either, because you have to be
(08:33):
curious about what's going on, like we're talking about today
and throughout the show to understand how serious you need
to take this, because if you don't take it serious,
your tax situation is going to change. Your income situation
is going to change. Your investment situation is going to change.
Your estate planning is going to change. And Chris, this
is what people I don't know if the word is panic.
They come in and not only with us, with any advisor.
(08:56):
They're just so concerned about being sold something but not
really overlooking this whole plan of what everything here from
a holistic approach applies.
Speaker 3 (09:05):
That's exactly right, and many people just don't know what
they don't know. And you know, they get their taxes
done and they have a tax liability and they have
no idea and then they're all upset because they don't
want to pay taxes. But in theory they could have
really just they're in a low tax bracket, but they
just didn't withhold enough. So there's a lot of things
that people just don't understand and where we're getting to
and we talk about distributions. That's why the investment side
(09:26):
is so important. People have investments that all call qualified
accounts like iras and formal case, then they have non
qualified accounts that in your checking account or your savings
account or your non qualified brokerage account. So when we
look at where to take money from. We see this
time in and time out again all the time that
people take a distribution. You know, I need thirty thousand
(09:46):
dollars and some people go to their IRA and then
take it. Well, they got to pay tax on it,
so instead of getting thirty thousand dollars, they have to
gross that up by maybe twenty percent, so that causes
a taxable event, whereas they can just take a certain
amount from their non qualified count from the roth iray
and pay no tax. So that's why it's so important
to meet with us because when we do investment planning,
we can put together an investment plan for you. As
(10:08):
a fiduciary. What we talk about is doing the right
thing for you and also bucket planning. You know, there's
ways to have safe investments. There's also ways to have
money invested in the market. There's a lot of different
strategies you can take advantage of. So pick up the phone,
schedule time to meet with us eight three three Magi
Tax and be sure to visit our website at Maggie
tax dot com and sit an appointment today. You know,
you need the information that we're talking about here. There's
(10:30):
so much going on. People are confused. People need to
know what they can do with their accounts and their
plan and that's why we call it your Plan. It's
the Maggi Tax Plan to help you with income planning,
tax planning, investment planning, end to state planning. So pick
up the phone, schedule time to meet with us eight
three to three Maggie Tax and don't forget every Sunday
on ABC TV at ten thirty for the Magi Tax
(10:51):
and Financial Show.
Speaker 2 (10:52):
Eight three to three Magi Tax. That's a three to
three Magi tax.
Speaker 1 (10:57):
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
(11:19):
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 3 (11:35):
Welcome back to the Maggie Tax and Financial Show, the
show where strategy meets clarity and your financial future gets
the attention it deserves. Whether you're building wealve shielding assets
or just trying to decide in the code what the
tax code really means for you. We got you covered.
So welcome back to the show. I'm Chris Maggan. I'm
here with my dad and coast of the show, Robert Maggie,
and we're talking about the Trump Big Bill and how
(11:57):
it's impacting you. And what we do here is a
tax planning, investment planning, insurance planning, a state planning. So
we do everything. It's called complete planning. And if your
advisor is not talking about how it's going to affect you,
then guess what you need to start thinking about what
to do because your investments impact your taxes. And if
they're not talking about that your advisor, your tax planner,
(12:20):
or your current investment advisor, then you know what you
deserve to get the planning. You need to make sure
that you're not impacted on a negative way. So pick
up the phone, schedule time to meet with us. Eight
three to three, Maggie.
Speaker 2 (12:31):
Tax.
Speaker 3 (12:32):
We have obviously on both sides of the Bay. That's
eight three to three Maggie Tax.
Speaker 2 (12:35):
And the question that you should be asking yourself is
what keeps you up at night, what's your biggest fear,
what's your concern? And this is the question that you
should be asking your advisor or your CPA. You're a
tax person and we get these questions every single day
from a lot of clients. So there's nothing wrong with
asking questions. And that's what you have to do as
an individual or a family. Ask questions that concern you
(12:58):
and have them answered for you, because if you don't
ask the question, you're never gonna find out the answer.
It's that simple. Call eight three to three Maggie Tax Today.
I've operated standing by right now. Be sure to visit
Maggie tax dot com. There's a lot of information that
will help you understand what we do and set an
appointment today. It's up to you. Eight three to three
Maggie Tax. If you'd like more information about what you
(13:18):
hear during the show today, give us a call eight
three to three Maggie Tax, or visit us online at
Maggie Tax dot com. And by the way, when you're
at our website, click on the retirement tax bill. Check
out what your retirement tax bill will look like, and
in thirty seconds you're going to see what your retirement
tax bill will look like. That's what I'm talking about.
It's about education, It's about having you understand the language.
(13:40):
So if you have an IRA or four oh one K,
click on the retirement calculator and in thirty seconds it
will show you your what your retirement bill is going
to be look like. But remember each situation is different.
So eight three to three Magie tax call. Right now,
we have operated standing by. You have to do something.
You have to design a plan, you have to get
(14:00):
answers to your questions. And that's the way to do it.
And buried in the hundreds of budget line items that
are real changes that may hit your wallet, your taxes,
and your future plans. They're going to change. So sit
down and get serious. If you want to be curious,
that's fine. I have no problem with that, but you're
going to have to get serious at one point. And Chris,
I think that's the problem that a lot of people
(14:22):
have because of the elections, because of the waiting for
the tax bill, waiting, waiting, waiting, waiting, and you can't
wait any longer, So you've got to get serious about
this and you have to do something about it.
Speaker 3 (14:32):
Exactly so, with regards to taxes, one of the biggest
ticket items in this new budget is the permanent extension
of the twenty seventeen tax cuts. Those cuts were set
to expire, but now they're here to stay. So in total,
there are nearly seventy tax related changes backed into this budget,
and for US, some of the most attention grabbing items
include a bump in the standard deduction, so there's seven
(14:55):
hundred and fifty dollars more for individuals now at fifteen thousand,
and then fifteen one hundred dollars for more couples now
at thirty thousand. There's also a bonus deduction for seniors
of up to six thousand dollars for tax years twenty
twenty five to twenty twenty eight. For the Social Security
there's also an increase in the child tax credit to
twenty two hundred dollars in twenty twenty six. There's also
(15:16):
bigger a state and gift tax exemptions, and some also
other headlines generators, like no taxes on tips or overtime
pay from years twenty twenty five through twenty twenty eight,
so even interest on the new auto loans up to
ten thousand dollars is excluded during that period, although it's
limited to vehicles assembled in the United States. So where
(15:37):
we're going with this. There's a lot of new items
here and how is it going to impact you and
your financial situation? So we urge you to pick up
the phone, schedule time to meet with us, said an appointment.
Let's get together, Let's have a conversation. Let's talk about
your taxes and how this is going to relate to
your solid security, to your future retirement. What about your investments?
(15:59):
Many people out there have no idea where to invest
their money or what to do with their old form.
One case where we can help. We can put this together.
What about distribution planning? Where do you take your money?
Do you take your money from a qualified account or
a non qualified account or a roth ira to limit
the most tax exposure? How do you go about doing this? Well,
we can help. And then when you put together in
(16:20):
a state plan, this is your money, so you want
to make sure that you keep it all intact in
your family. So we can help put together the estate
planning items such as a will or a trust or
a power of attorney. So these things that our firm
can do to help you. So pick up the phone,
schedule time to meet with us eight three to three
Maggie Tax.
Speaker 2 (16:36):
So the big question that we get every day is
how can Maggie Tax help someone make sense of this
new budget build. There's so many pieces to it. Some apply,
some don't. So set an appointment and let's explain the
new language and help you understand. The newly passed federal
budget is packed with tax changes, spending shifts, and policy
updates that could impact your wallet for years. Remember something,
(16:58):
it's over eight hundred pages this new bill. You're not
expected to learn them all, but we want to get
the pieces for you so that it applies to you.
And unless you're a broker or advisor understands the new
tax changes, they will not take the time to discuss
all of this with you. That's what we do at
Maggie Tax. Line by line. We want to make sure
from your tax return how it applies to you. Some
(17:19):
of this doesn't, but many of it does, and you'd
like to know we're going to tell you about that.
So that's what we do, simple and easy to understand.
One of the things that we talk about the Maggie Plan.
People say, what's your process? What do you do? Well?
The Maggie Plan is simple. It's simple and easy to understand.
It's a tax plan. And what we're talking about here
how these tax changes are going to affect you. It's
(17:41):
an income plan. How much income do you need and
where you're going to get it from? Like Chris mentioned before,
is it going to come from a qualified account or
a non qualified account? Is it taxable or non taxable?
Are you going to pay the right amount of taxes
or are you going to owe taxes? These are questions
that we address with every single client. So set an
appointment eight three to three Maggie Tax. We have offices
(18:01):
in Loots, we have an office in Palm Harbor, we
have an office in Saint Pete. Pick up the phone
and let's have a conversation. Let's do a simple review
and answer the question that we asked before. What keeps
you up at night? And many people were up at
night because of this new tax change. So you know,
don't be afraid to write the questions down. Ask the question,
Let's give you the answer and make it simple for you.
(18:23):
Eight three to three Maggie Tax.
Speaker 3 (18:25):
We laid the groundwork, but now it's time to connect
the dots. Coming up next, we'll dive into investment planning
and how the new tax bill isn't just changing tax deductions,
it's reshaping strategy from capital gains to roth conversions. The
rules are shifting and smart investors are already adjusting. If
your portfolio isn't aligned with the new tax landscape, you
could be leaving serious money on the table. So stick around.
(18:48):
We'll be breaking it all down. Eight three to three
Maggie Tax. That's a three to three Magi tax, and
don't forget tune in every Sunday on ABCTV to the
Maggi Tax the Financial Show. It to a thirty minute
show eight three to three Magi Tech.
Speaker 1 (19:02):
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
Maggi tax dot com or call eight one three three
(19:25):
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 3 (19:40):
Welcome back to the Maggie Tax and Financial Show and
I'm here with my dad and coast of the show,
Robert Maggie. So we're talking about a lot of different
things today, but taxes just changed again, and if you
think it's just about brackets and deductions, we got to
start thinking bigger. The new tax bill is rewriting the rules,
and your investment strategy needs to keep up, whether you're
managing portfolio, building, retirement income. We're just trying to stay ahead.
(20:03):
This isn't the time to guess. And today we're breaking
down how smart investment planning intersects with the latest tax
changes and what you can do right now to protect gains,
minimize exposure, and stay strategic.
Speaker 2 (20:15):
That's what we do, and so that let's talk about here.
Speaker 3 (20:19):
One of the things that we talk about is investment
planning and how it correlates to taxes.
Speaker 2 (20:23):
So what do you want to add, Well, let's talk
about one of the biggest thing people ask about capital
gains and timing strategies. How does that apply? And we
get these questions all the time. What do we normally
explain to our clients, what strategies, what you know concepts
we could use.
Speaker 3 (20:38):
Well, we want to explore how changes the capital gains,
tax rates or the threasholds affect when and how investors
should realize these gains. Let's talk about what realizing gains means.
Because there's unrealized there's realize gains. Many people have no
idea what that means. But let's use this example. Say
you put one hundred thousand dollars in investment and maybe
six months from now it's worth one hundred and twenty thousand. Well,
(21:00):
that one hundred thousand went up to one hundred and
twenty that's a twenty thousand dollars what we call unrealized
meaning it hasn't been sold, so it's unrealized gain. So
if you sell it, then you got to pay tax
on the twenty thousand dollars gain. Once you realize the
gain is when you actually sold it, so then you
got to pay tax on that twenty thousand. So the
tax brackets changed. Sometimes it's zero percent tax on these gains.
(21:24):
Sometimes it's fifteen percent, sometimes it's ten percent, sometimes as
much as twenty percent on capital gains, depending on your income.
So why is tax planning and investment planning so important
to work together and have the right advisor.
Speaker 2 (21:38):
Well, because when you get your taxes done and you
start to see what the bottom line is, and you
pay a lot of tax and the question we get,
I think I'm paying too much in taxes, and the
answer is no, you're not. You're not paying enough. And
there's a perfect example what you're talking about. If they
sold the stock or they had a large capital gain,
that applies, and it applies in income that they have
on their tax return, and it's either going to raise
(22:00):
their taxes, which I would bet ninety percent of people
and you and I know this don't withhold enough taxes
when they do something like this, when they sell a
stock or a piece of property, they just get the
money and they don't do nothing with it.
Speaker 3 (22:12):
That's exactly right. So tax planning throughout the year, whether
it's January, February, March, April, June, whatever, August, September, it
doesn't matter. We're always talking about tax planning as well
as how it it relates to your investment. So we
can sit down with you and show you that if
you sold that investment and you had a twenty thousand
dollars gain, maybe there's no tax to pay. Maybe you
will be encouraged to pay the fifteen percent tax.
Speaker 2 (22:33):
I don't know.
Speaker 3 (22:34):
That's why everything that we look at is your complete plan.
We'll look at your taxes, your investments, your income. We'll
talk about all these different things and give you the
advice so you can pull a trigger on what to
do is best for you. So pick up the phone,
schedule time to meet with us. We have office on
both sides of the bay to help you. Eight three
three Maggie Tax. One other stuff that we can talk about.
Speaker 2 (22:53):
Well, in addition to that, they are always to upset
the capital gains tax, which we can show you, but
we can't do this on the radio. So if you
have a highly appreciated stock or property, you need to
call us eight three to three Maggie Tax. Let's sit down,
show you that strategy and you will be shocked that
you didn't know this, but you can do it and
it's all right by the book.
Speaker 3 (23:12):
Well, that's this thing I mean you mentioned a great point,
and you're right, we can't talk about it today because
it's on there's too much to talk about on the show.
But what we're mentioning is we're more than happy to
talk about how it's gonna affect you. Let's just use
an example. Say you have one hundred thousand dollars property.
Now it grows to a million, there's a nine hundred
thousand dollars capital gain tax. Well, that's gonna pay a
hot in tax right there. But how can you bypass
(23:34):
the capital gains tax?
Speaker 2 (23:35):
Well, the strategy we use, we'd use different types of trusts,
use a crut or a crat that a lot of people,
you know, are surprised and don't know about, but you
could look it up. It's real and it's legal, and
a lot of people take advantage of this to avoid
the capital gains exactly.
Speaker 3 (23:48):
So that's why it's so important to meet with us.
So pick up the phone, schedule time eight three to three,
Maggie Tax. We'll be more than happy to go over
this with you if you have highly appreciated gains.
Speaker 2 (23:57):
And there's another reason why we encourage you to give
us a call, set down and talk to us about this. See,
everybody out there has a different situation. Some have capital gains,
some have losses, et cetera. You know, they talk about
discussed tax loss harvesting opportunities and the importance of holding periods.
We can go into that. But those are things, Chris,
that some people know about some people don't. But if
(24:17):
we get the right person and we explain it and
it benefits them, do you think they'd want to know? Absolutely.
Speaker 3 (24:22):
That's called tax planning correlating to your investment. So work
with an advisor who does both. You're leaving a lot
on the table if you have an advisor that's dealing
your investments that has no idea what taxes and how
they're going to affect you. So thick of the phone,
we can do it for you. Eight three to three
magi tax. We can do both investment planning as well
as a tax planning eight three to three magi tax.
Speaker 2 (24:44):
So let's kind of skip gears here and talk about
a lot of questions. We get roth convergence and retirement accounts.
This is important now in talking today about the deductions,
your standard deduction and now the extra six thousand that
you can put. There's ways that you can reduce the
tax on your IRA and four oh one k. Again, Chris,
if they just used the strategy that we're talking about,
(25:05):
that's exactly right.
Speaker 3 (25:06):
So you know, the new bill impacts roth conversion, timing,
contribution limits, and also requirement and distributions. You know what
our requirement of distributions. While we're on the topic, Dad,
let's talk about that.
Speaker 2 (25:16):
Oh man, let me give you an example right now.
I had a gentleman call me the other day. He
had a million dollar IRA, and he said, Bobby, you
know I'm sixty five years old. When do I take
this thing called the R and D it's required minimum distribution.
The problem that he had and he didn't understand, is
that at seventy three, because of the new rules, he
has to take out the required amount based on a
certain percentage. When we ran the illustration that I'm encouraging
(25:40):
all of you to go to on our tax on
our Maggie Tax website, he was shocked that he had
to take out almost forty thousand out of one account
and forty thousand out of another. But the shocking part, Chris,
was that it went on his tax return brought him
to a higher tax bracket. And caused him a big tax,
and he didn't want to do it. So one of
(26:00):
the strategies we use a strategic rollouts where we had
seven years from sixty five to seventy three to roll
his money out based on his tax situation and his
tax bracket, to pay the least amount of tax and
have more tax free money. How good is that?
Speaker 3 (26:15):
My gosh, that's called tax efficient planning with your investments,
and that's what we do. So you know, instead of
having a forty thousand dollars distribution that he didn't need
or want, it just raised his income. He didn't want
to pay the tax on it because now he's in
a higher tax bracket. It's sold security to getting tax
eighty five percent. And guess what he's saying, this is
not what I want to do. I wish I had
the planning. So that sixty five year old who was
(26:36):
in a similar situation, we did some strategic planning. So
now when he got to seventy three, because that's the
age that you have to start taking what they call
the requirement in distribution, he didn't have to take out
forty thousand. Now we just create a tax free bucket
for himself. Now the RMD requirement in distribution was a
lot less. And guess what now his tax on Social
Security was zero and he had the income that he
(26:58):
wanted in the most tax division way. So where we're
going with this is pretty simple. I know a lot
we're talking about, but complete planning. Make this simple for you.
Create the Maggie Plan. The Maggi Plan is simple. It's
a plan for you. It's your plan, it's your money.
It consists of tax planning, income planning, where's the best
spots to take your money in the most tax efficient way?
Investment planning. We'll get into that in a little bit.
(27:19):
But how can you invest your money in the right
portfolios for growth and for security and preservation of your money?
What about state planning? We do all these things to
help you. Eight three three Maggi tax.
Speaker 2 (27:28):
The biggest question that we ask all of you is
do you have a plan? What we're talking about taxes?
We're talking about investments here. So let's go to another topic.
He what about tax efficient investment vehicles? We get this
all the time, you know, we look at their portfolio,
that got all these portfolios in there, different accounts, and
they go, where's the tax efficient investment vehicles. Where are they?
(27:49):
Why isn't my advisor telling me so, Chris? Why don't
we just dive into that a little bit? Absolutely?
Speaker 3 (27:53):
Well, we can compare the tax treatment of ETFs called
exchange strate of funds, municipal bonds, it's real estate investment trust.
See a lot of people use mutual funds. There's diffiden
pain stocks under the new rules. These are the things
that we're talking about. Asset allocation, what's taxable, what's tax advantage?
Speaker 2 (28:12):
Growth?
Speaker 3 (28:12):
These are the things. I mean a lot of people
talking about exchange trade of funds and how they're cost
efficient and how do they put together in your investment
plan to generate tax efficiency and also lower costs. These
are the investment side that when you come in to
meet with us, we're going to analyze all these different
vehicles for you. We see a lot of people come
on in and they have no idea what type of
(28:33):
risk they're taking with their money. They're taking a lot
of risk, but they want preservation of their money. Some
people want more growth, but guess what, they're too conservative
in their investments. So how do you allocate this? Well,
tax diversification and investment allocation, These are things that we
can do on the investment side to help you. So
pick up the phone, schedule time to meet with us.
If you have accounts that are all over the place
(28:54):
and just have piles of money, then now is the
time that put those piles into buckets where we strategically
have a purpose with them. And that's what we can
do on the investment side. You know, whether it's for growth,
whether it's for safety, whether it's for inflation protection. We
can always sprinkle an inflation protection bucket on there to
with maybe gold or presh metals or something that's actively managed. Right,
(29:15):
these are things that we can do. So there's a
lot here to help you. A three three magi tax,
that's a three three magi tax.
Speaker 2 (29:21):
One of the biggest things that we talk about is
asset allocation. And most people that we talk to don't
understand asset allocation, especially when we talk about like red money,
green money, and how to protect it, because what we
see most of the time is that people have their
money in risk, not in non risk. And when we
sit down and do this asset map that we talk
about here, it's going to help them understand absolutely.
Speaker 3 (29:43):
So that's why it's so important to pick up the phone,
schedule a time to meet with us A three to
three mag A Tax. We have office on both sides
of the Bay three office in the Tampa Bay Area.
Visit our website Maggi tax dot com. That's m a
Ggi tax tax dot com.
Speaker 2 (29:59):
So what we've done today we've unpacked how the new
tax bill reshapes investment planning from capital gains, which is
a big question to roth conversions. But strategy alone isn't
enough to truly protect and grow your wealth. Every piece
needs to work together. Taxes, investments, insurance, state planning, cash flows.
Is your plan set up that way? And you know
(30:20):
this is what we try to do with every client
coming in because you have to see how do you
get to first base to second base to third how
do you score that run? And scoring that run means
tax savings, investment planning, income planning. This all ties together.
I know it's simple that I'm saying that, but this
is exactly how you have to look at your investments.
Give us a call eight three to three Maggie Tax.
(30:41):
We have offices on both sides of the Bay And
you know the thing is right now that people are
confused and isolated. So next up we're putting it all together.
What does a complete financial plan actually look like? And
how do you build one that adapts, protects and performs
for you? And that's the way it's going to be
so because clarity isn't just comforting, it's powerful. Eight three three,
(31:05):
Maggie Tex.
Speaker 1 (31:07):
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 gg I tax dot com or call eight one
(31:28):
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 (31:45):
Welcome back to the Maggie Tax and Financial Show, and
you can go to our website Maggie Tax dot com.
Be sure to give us a call. Eight three three
Maggie Tax. We talked about an awful lot today, so
make an appointment let's answer your questions. And you've heard
the process. So you've heard the pieces, tax strategy, investment planning,
retirement moves. But now it's time to bring it all together.
What are you doing about it? What is your biggest
(32:07):
question and what would you like to be answered? A
complete financial plan isn't just a stack of statements or
a few guesses. That's not going to work. It's living
a blueprint. Your blueprint built to adapt, protect and perform
through every season of life. We call it the Maggie Plan.
It's really simple and easy to understand. It's a tax plan,
it's an income plan, it's an investment plan, it's an
(32:29):
estate plan. It's a legacy plan. So do you have that?
And if you don't, give us a call. That's what
we're talking about today eight three to three Magi Tax.
Speaker 3 (32:37):
And today we're walking through what a truly integrated plan
looks like, the core components, the common gaps, and how
to make sure your money is working as hard as
you are. So pick up the phone eight three three
Magi Tax. Let's put together a plan for you. We
have obvious on both sides of the bay to help you.
So the first part of this whole thing is integration
is everything you know. A strong financial plan aligns with
(32:59):
tax stratges, investment opportunities, insurance, and estate planning into one
cohesive system, not silated decisions. And when we do this,
we see because we've been in the business, we've been
in this business so long that we see that many
people come in and they have a retail advisor. What's
a retail advisor? Retail advisor someone who just sells a product.
(33:20):
Maybe they sell them an investment, maybe they just do
the tax preparation. They don't do any planning. They don't
do any tax strategies to harvest, they don't do any
estate planning. So what we're talking about here is when
you work with an advisor and you deserve this, that's
where the big boys are. They have complete planning. When
you think about athletes, they have many people working for them.
(33:41):
They just don't have They don't sign these deals, these
record breaking contracts and have one advisor just selling them
a product. They have a team. And that's where we
are at MAGI Tax Advisor and Financial Group. We have
the components to help you put together your plan. A
three to three MAGI tax.
Speaker 2 (33:57):
And one of the things that's important is most plans
we see miss the mark because it's not prepared correctly.
Common gaps include outdated assumptions they were maybe a year ago,
two year ago, not like today. Lack of coordination between advisors.
Does your advisor talk to your tax person? Does your
tax person talk to your advisor? Not really? And failure
to stress test for real life scenarios. What's the situation
(34:21):
today as opposed when you did that a year ago.
So your plan should be proactive, not reactive. And the
best plans anticipate change because that's what it is. Change
is happening everywhere every day on everything from market shifts
to life transitions and adjust with precision, not panic. And Chris,
I think what happens is a lot of people they panic,
they don't know, and they do until they come in.
(34:43):
And we've seen it many times. The person, the couple
will sit here and go like, wow, my guide doesn't
tell me about that, And you know what the problem is,
you as well, You should be asking, don't be afraid,
and that's the way it works. Well, that's the thing.
Speaker 3 (34:55):
I mean, many people they seek help, right, they're looking
for the right advisor, listening to today's show, you're thinking, well,
should I go see them or should I just stay
with my advisor? Well think about it. If you're looking
for a complete plan, then come see us. Let's have
a conversation. We're adults, right, I mean, if things are
in line and you like the processes that we have
to help you, then we can implement the plan. You know,
(35:17):
if you meet with us and you don't like what
we do, or you like what your advisor does, then
then you can stay with them. But you owe it
to yourself to do the right thing for yourself and
your family because we talk about we talk about the
changes and tax laws that and the bills and the
things are changing.
Speaker 2 (35:33):
We just heard that throughout today's show.
Speaker 3 (35:35):
And if you're not doing anything about it, you're missing
the opportunity for yourself and your family.
Speaker 2 (35:40):
And one thing I'll say, and I said it before,
if you're curious, then you should be. This is what
this show is supposed to do. Make you curious about it,
and then let's get serious because that's the blueprint, not
just theory, but a framework you can act on. Because
a complete financial plan isn't built in a day. And
let me give you an example. If someone and you
meet with an advisor and they want to move every
thing that you have, whoa slow it down, do a
(36:02):
little piece of a time and build it the way
you want it. Not just jump in and see how
deep it is. Let's see how this thing progresses. But
it starts with one decision, Chris, one decision to see
where the groundwork starts and then build it from there.
Speaker 3 (36:14):
And that decision is very very simple. I mean, if
you listen today's show, pick up the phone, schedule a time,
the meme with this. You know, we're a family business.
We've helped a lot of people, but we make things
simple for you to understand. And decision that you need
to make is do I want to come in and
meet with you and let's do it. You know again,
we're adults. Let's have a conversation and we're not going
to sell you anything. That's what we're looking for. We're
(36:35):
looking to help you. We're looking to put together a
pleaplan because you deserve it. Eight three three Magi tax
that's eight three three magie tacks.
Speaker 2 (36:42):
And think about it this way, whether you're refining your strategy,
you're building from scratch, the goal is the same clarity, control,
and confidence in every dollar that you earn, every dollar
you invest and protect. And that's where I think a
lot of people don't see that because they look at
the whole pile. We talk about piles of money, but
you should be looking at piece of it a little
(37:03):
bit out of time. And that's what we do because
I think the intimidating fact that Chris mentioned it before.
A retail advisor is going to sell you the whole
ball of wax. Okay, a complete advisor is not going
to do that. That's what we're talking about today, income planning,
tax planning, okay, a state planning. And this is what
you have to think about because things have changing. And
now that you know about the new tax bill and
(37:24):
how it's going to affect you, sit down and let's
do it. Let's do it. Let's do a review. You
have nothing to lose, okay, nothing to lose, but knowledge
and understanding what the language is in your plan, not
the language in someone else's planning. Chris, I think that's
basically where I see and you see it the same thing.
Every day. We get calls every day, what about this?
What about that? That means you're curious Okay, if you're curious,
(37:47):
there's nothing wrong with that, and I hope the show
makes all of you curious, but seriously, get serious.
Speaker 3 (37:52):
Absolutely so we thank you so much for joining us today.
If this spar questions or ideas, don't let them sit idle,
reach out, dig deeper and take the next step. Your
future deserves more than just guestwork. So if you want
an income plan, we can help. If you want an
investment plan, we can help. If you want tax strategies
to help you reduce your taxes, we can help. If
(38:13):
you want a state plan, we can help. And that's
what we do here. So at Maggi Tax Advisory and
Financial Group, we put together all those pieces to generate
a complete plan for you. And as I mentioned before,
and I'll say it again, this is so important. Your
future deserves more than just guestwork. Visit our website Maggie
Tax dot com. That's m A G G I t
(38:33):
X dot com. And don't forget. Every Sunding on ABC TV,
tune into the Maggie Tax at the Financial Show eight.
Speaker 2 (38:38):
Three to three Tax.
Speaker 1 (38:42):
You've been listening to the Maggie Tax on Financial Hour
discussing tax planning, investment, strategy is presented by Robert and
Chris Maggie from Maggie Tax Advisory and Financial Services with
offices in Hillsboro and Panela's 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
(39:04):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
All these years you've saved up planning for a 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
in 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. My name is Robert Maggie and you're listening
to the Maggie Tax and Financial Show. I'm here with
my son and co host Chris Maggie. Be sure to
visit our website Maggie Tax dot Com and click on
the retirement tax Bill and you can see in thirty
seconds what your tax bill is going to be. So
if you have an IRA or a four to one K,
and now today we're going to be talking about the
(01:13):
new tax bill. And a lot of people are concerned
about what they're going to pay in taxes when they
start taking their money out of the IRA, So we're
going to talk about that today. But again, go to
my website, Maggie Tax dot Com, click on the retirement
tax bill on the top right, put your numbers in
and in thirty seconds they'll give you a report and
that should enlighten you and then make an appointment so
(01:34):
Chris and I can talk to you about it. So again,
visit Maggie Tax dot com and every Sunday at ten thirty,
don't forget to tune into the Maggie Tax and Financial Show. So, Chris,
a lot of things have changed, a lot of things
are going to be changing, and I guess the word
is a lot of people are still going to be confused.
Speaker 3 (01:50):
Well, let's just sit and welcome everyone and thank you
so much for tuning into our show and easion. Every
week we talk about tax planning and income planning and
investment planning and also estate planning, and that's what we
do here at Maggie Tax Advisory and Financial Group. So
visit our website at maggiitax dot com. That's m a
Ggi tax dot com. But today, yeah, let's dive into
the Trump big beautiful bill and how it's going to
(02:12):
impact a lot of people out there.
Speaker 2 (02:13):
Oh yeah, and we get a lot of people calling
right now, So we're going to discuss what the newly
signed federal budget bill may mean for older Americans and
many of you listening today. So number one, there was
major tax changes. This was a big one. It permanently
extends the twenty seventeen tax cuts, no taxes on tips,
a boost to child tax credit, and new deductions. And
(02:35):
this is really going to surface, Chris, when we do
the tax return starting in January for a march in April.
All this is going to come to the head. So
at Maggie Tax and Financial Services, we can help you
navigate what's relevant. You're gonna have many questions is it
good for me? Is it not? We're going to tell
you that going to maximize opportunities and protect against tax surprises,
bringing clarity and strategy to a fast changing landscape. And
(02:59):
the biggest thing, Chris, we talk about language and understanding
the words and how this is going to apply to
each and every one. So I know you're going to
have questions and we're going to try to answer them.
So call eight three to three Maggie Tax right now.
I have operated standing by and be sure to visit
Maggie tax dot com and schedule a review appointment today.
Folks and Chris, you will agree with this. The only
(03:20):
way to understand all of this and get clarity is
to make an appointment, sit down, have a review, and
answer your questions. And that's just it.
Speaker 3 (03:28):
Many people out there have taken advantage of that, you know,
brought in their tax return, but on their investments. Let's
look and see how everything's going to impact one another.
And not only do we do tax preparation, we do
tax planning, but also investment planning and income planning and
estate planning. And that's why we do complete planning. So
if you're looking for an advisor out there who can
take care of everything, that's what we do. You know,
(03:49):
many people think, well, I just got to go to
my tax person, and I got to go to my
investment person. They're not talking. They're not on the same
page where we are. So this tax bill is going
to impact a lot of people. So when you come
in to meet with us, as my dad's mentioning, we
need to look at your plan and what your tax
return is going to look like. So these are things
that are happening. So pick up the phone, schedule time
(04:10):
to meet with us. Eight three three, Maggie Tax.
Speaker 2 (04:12):
We'll stay with what you just said, your plan. The
question is what is your plan? Is it a tax plan?
Is it an income plan? Is it an investment plan?
Is it solid security plan? Is it a state plan.
We do seminars every month on a state and taxes,
and you'd be surprised how many people come to our
seminars and they do not have a plan, Chris. And
it's disappointing because they're adults. Okay, they know this, and
(04:36):
yet they do nothing about it until it hits the fan,
and that's too late. So even now with this new bill,
a lot of things are going to change, so it's
really important to understand it. And a couple things that
they went over was the bill includes cuts to Medicaid, Medicare,
and the Affordable Care Act. I'm not going to go
into that right now, but there are answers that we
can give you. There's new Medicaid work requirements and stricter
(04:58):
eligibility checks. Again, it might apply to some of you,
but we'll go over that as well. There's clean energy
tax credits. They're being eliminated. Listen to this, despite campaign promises.
There's no repeal of Social Security taxes. Up to eighty
five percent of benefits may still be taxed for higher earners.
And thresholds haven't been adjusted since the nineteen eighties. And
(05:20):
this is the thing you and I see all the time.
The thresholds are the same, they've never changed. So now
what has to happen is people think, because of what
they were saying, no tax on Social Security, it only
goes a certain extent. And let me give you an example.
Social Security tax repeal. They're blocked by rules. And this
is important for you to understand. It's called the Bird rule.
(05:41):
The Bird rule prevents major changes to Social Security through reconciliation,
making a full repeal of Social Security taxes procedurally off
limits in this bill. Okay, but what they did give
you is a bonus deduction instead of repeal. So this
bill offers a six thousand dollars bonus standard deduction for
adults sixty five plus okay, phased out above seventy five
(06:04):
thousand for individuals and one hundred and fifty thousand for couples,
and it stacks on top of the regular senior deduction.
And Chris, the reason why that's important is because the
standard deduction now for seniors, for single and couples has changed,
and now if they qualify for this to get another
six thousand, that basically helps them take more money out
(06:26):
of a retirement account, right and pay no tax and
do a conversion.
Speaker 3 (06:29):
Well that's just it, he said a lot there, So
let's kind of digress here a little bit. A lot
of people talked about how there's going to be no
tax on Social Security. Well, that's not going to happen.
It's still going to get taxed if you're over the limits.
And that's why it's so important to do tax planning,
especially with your investments, because if you're pulling money from
your investments the wrong way, then guess what your SOI
Security could be taxed up to eighty five percent. So
(06:51):
with this bill, there's still going to be taxed on
Social Security, but they're giving that bonus deduction for you
six thousand dollars if you qualify, so it looks at
your other income too, and if you make over sev
seventy five thousand dollars for individuals, and if your marrig
file and jointly it's one hundred and fifty thousand. So
you have to make sure that you're under these numbers.
And that's why planning and tax planning and investment planning
(07:13):
is so important, and that's why we can show you
how to maneuver through these things. But there's still going
to be a deduction for you on sol Security, and
if you're married then you get the twelve thousand dollars,
but if you're individual at six thousand, you got to
make sure that you're looking at those limits. So what
we're saying here is that planning is so crucial. You know,
my dad's been talking about the specifics of it, but
(07:34):
you need to understand that we can make this simple
for you. At Maggie Tax Advisor and Financial Group, we
put together complete plans and complanning, tax planning, investment planning,
but we do make things simple and easy for you
to understand. That's our model, and when we go through this,
we're going to help you and strategically think about ways
to reduce your taxes and also look at your investments
(07:54):
and see how they're working together. So pick up the phone,
schedule time to meet with us. Eight three to three
Maggie tax. You know, we come on in, let's have
a conversation. We have offices three across Tampa Bay area
to help you. So whatever's convenient, let's get together a
three three Maggie tacks.
Speaker 2 (08:11):
You know, it's not just about when people come in,
we always ask them how can we help you? A
lot of you hear our show and watch our TV show,
and there are a lot of strategies and concepts that
we can apply. But you have to sit down, and
here's the word I'm gonna use, get serious. If you're serious,
that's fine. But if you're just curious and you're just looking,
that's not a problem either, because you have to be
(08:33):
curious about what's going on, like we're talking about today
and throughout the show to understand how serious you need
to take this, because if you don't take it serious,
your tax situation is going to change. Your income situation
is going to change. Your investment situation is going to change.
Your estate planning is going to change. And Chris, this
is what people I don't know if the word is panic.
They come in and not only with us, with any advisor.
(08:56):
They're just so concerned about being sold something but not
really overlooking this whole plan of what everything here from
a holistic approach applies.
Speaker 3 (09:05):
That's exactly right, and many people just don't know what
they don't know. And you know, they get their taxes
done and they have a tax liability and they have
no idea and then they're all upset because they don't
want to pay taxes. But in theory they could have
really just they're in a low tax bracket, but they
just didn't withhold enough. So there's a lot of things
that people just don't understand and where we're getting to
and we talk about distributions. That's why the investment side
(09:26):
is so important. People have investments that all call qualified
accounts like iras and formal case, then they have non
qualified accounts that in your checking account or your savings
account or your non qualified brokerage account. So when we
look at where to take money from. We see this
time in and time out again all the time that
people take a distribution. You know, I need thirty thousand
(09:46):
dollars and some people go to their IRA and then
take it. Well, they got to pay tax on it,
so instead of getting thirty thousand dollars, they have to
gross that up by maybe twenty percent, so that causes
a taxable event, whereas they can just take a certain
amount from their non qualified count from the roth iray
and pay no tax. So that's why it's so important
to meet with us because when we do investment planning,
we can put together an investment plan for you. As
(10:08):
a fiduciary. What we talk about is doing the right
thing for you and also bucket planning. You know, there's
ways to have safe investments. There's also ways to have
money invested in the market. There's a lot of different
strategies you can take advantage of. So pick up the phone,
schedule time to meet with us eight three three Magi
Tax and be sure to visit our website at Maggie
tax dot com and sit an appointment today. You know,
you need the information that we're talking about here. There's
(10:30):
so much going on. People are confused. People need to
know what they can do with their accounts and their
plan and that's why we call it your Plan. It's
the Maggi Tax Plan to help you with income planning,
tax planning, investment planning, end to state planning. So pick
up the phone, schedule time to meet with us eight
three to three Maggie Tax and don't forget every Sunday
on ABC TV at ten thirty for the Magi Tax
(10:51):
and Financial Show.
Speaker 2 (10:52):
Eight three to three Magi Tax. That's a three to
three Magi tax.
Speaker 1 (10:57):
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
(11:19):
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 3 (11:35):
Welcome back to the Maggie Tax and Financial Show, the
show where strategy meets clarity and your financial future gets
the attention it deserves. Whether you're building wealve shielding assets
or just trying to decide in the code what the
tax code really means for you. We got you covered.
So welcome back to the show. I'm Chris Maggan. I'm
here with my dad and coast of the show, Robert Maggie,
and we're talking about the Trump Big Bill and how
(11:57):
it's impacting you. And what we do here is a
tax planning, investment planning, insurance planning, a state planning. So
we do everything. It's called complete planning. And if your
advisor is not talking about how it's going to affect you,
then guess what you need to start thinking about what
to do because your investments impact your taxes. And if
they're not talking about that your advisor, your tax planner,
(12:20):
or your current investment advisor, then you know what you
deserve to get the planning. You need to make sure
that you're not impacted on a negative way. So pick
up the phone, schedule time to meet with us. Eight
three to three, Maggie.
Speaker 2 (12:31):
Tax.
Speaker 3 (12:32):
We have obviously on both sides of the Bay. That's
eight three to three Maggie Tax.
Speaker 2 (12:35):
And the question that you should be asking yourself is
what keeps you up at night, what's your biggest fear,
what's your concern? And this is the question that you
should be asking your advisor or your CPA. You're a
tax person and we get these questions every single day
from a lot of clients. So there's nothing wrong with
asking questions. And that's what you have to do as
an individual or a family. Ask questions that concern you
(12:58):
and have them answered for you, because if you don't
ask the question, you're never gonna find out the answer.
It's that simple. Call eight three to three Maggie Tax Today.
I've operated standing by right now. Be sure to visit
Maggie tax dot com. There's a lot of information that
will help you understand what we do and set an
appointment today. It's up to you. Eight three to three
Maggie Tax. If you'd like more information about what you
(13:18):
hear during the show today, give us a call eight
three to three Maggie Tax, or visit us online at
Maggie Tax dot com. And by the way, when you're
at our website, click on the retirement tax bill. Check
out what your retirement tax bill will look like, and
in thirty seconds you're going to see what your retirement
tax bill will look like. That's what I'm talking about.
It's about education, It's about having you understand the language.
(13:40):
So if you have an IRA or four oh one K,
click on the retirement calculator and in thirty seconds it
will show you your what your retirement bill is going
to be look like. But remember each situation is different.
So eight three to three Magie tax call. Right now,
we have operated standing by. You have to do something.
You have to design a plan, you have to get
(14:00):
answers to your questions. And that's the way to do it.
And buried in the hundreds of budget line items that
are real changes that may hit your wallet, your taxes,
and your future plans. They're going to change. So sit
down and get serious. If you want to be curious,
that's fine. I have no problem with that, but you're
going to have to get serious at one point. And Chris,
I think that's the problem that a lot of people
(14:22):
have because of the elections, because of the waiting for
the tax bill, waiting, waiting, waiting, waiting, and you can't
wait any longer, So you've got to get serious about
this and you have to do something about it.
Speaker 3 (14:32):
Exactly so, with regards to taxes, one of the biggest
ticket items in this new budget is the permanent extension
of the twenty seventeen tax cuts. Those cuts were set
to expire, but now they're here to stay. So in total,
there are nearly seventy tax related changes backed into this budget,
and for US, some of the most attention grabbing items
include a bump in the standard deduction, so there's seven
(14:55):
hundred and fifty dollars more for individuals now at fifteen thousand,
and then fifteen one hundred dollars for more couples now
at thirty thousand. There's also a bonus deduction for seniors
of up to six thousand dollars for tax years twenty
twenty five to twenty twenty eight. For the Social Security
there's also an increase in the child tax credit to
twenty two hundred dollars in twenty twenty six. There's also
(15:16):
bigger a state and gift tax exemptions, and some also
other headlines generators, like no taxes on tips or overtime
pay from years twenty twenty five through twenty twenty eight,
so even interest on the new auto loans up to
ten thousand dollars is excluded during that period, although it's
limited to vehicles assembled in the United States. So where
(15:37):
we're going with this. There's a lot of new items
here and how is it going to impact you and
your financial situation? So we urge you to pick up
the phone, schedule time to meet with us, said an appointment.
Let's get together, Let's have a conversation. Let's talk about
your taxes and how this is going to relate to
your solid security, to your future retirement. What about your investments?
(15:59):
Many people out there have no idea where to invest
their money or what to do with their old form.
One case where we can help. We can put this together.
What about distribution planning? Where do you take your money?
Do you take your money from a qualified account or
a non qualified account or a roth ira to limit
the most tax exposure? How do you go about doing this? Well,
we can help. And then when you put together in
(16:20):
a state plan, this is your money, so you want
to make sure that you keep it all intact in
your family. So we can help put together the estate
planning items such as a will or a trust or
a power of attorney. So these things that our firm
can do to help you. So pick up the phone,
schedule time to meet with us eight three to three
Maggie Tax.
Speaker 2 (16:36):
So the big question that we get every day is
how can Maggie Tax help someone make sense of this
new budget build. There's so many pieces to it. Some apply,
some don't. So set an appointment and let's explain the
new language and help you understand. The newly passed federal
budget is packed with tax changes, spending shifts, and policy
updates that could impact your wallet for years. Remember something,
(16:58):
it's over eight hundred pages this new bill. You're not
expected to learn them all, but we want to get
the pieces for you so that it applies to you.
And unless you're a broker or advisor understands the new
tax changes, they will not take the time to discuss
all of this with you. That's what we do at
Maggie Tax. Line by line. We want to make sure
from your tax return how it applies to you. Some
(17:19):
of this doesn't, but many of it does, and you'd
like to know we're going to tell you about that.
So that's what we do, simple and easy to understand.
One of the things that we talk about the Maggie Plan.
People say, what's your process? What do you do? Well?
The Maggie Plan is simple. It's simple and easy to understand.
It's a tax plan. And what we're talking about here
how these tax changes are going to affect you. It's
(17:41):
an income plan. How much income do you need and
where you're going to get it from? Like Chris mentioned before,
is it going to come from a qualified account or
a non qualified account? Is it taxable or non taxable?
Are you going to pay the right amount of taxes
or are you going to owe taxes? These are questions
that we address with every single client. So set an
appointment eight three to three Maggie Tax. We have offices
(18:01):
in Loots, we have an office in Palm Harbor, we
have an office in Saint Pete. Pick up the phone
and let's have a conversation. Let's do a simple review
and answer the question that we asked before. What keeps
you up at night? And many people were up at
night because of this new tax change. So you know,
don't be afraid to write the questions down. Ask the question,
Let's give you the answer and make it simple for you.
(18:23):
Eight three to three Maggie Tax.
Speaker 3 (18:25):
We laid the groundwork, but now it's time to connect
the dots. Coming up next, we'll dive into investment planning
and how the new tax bill isn't just changing tax deductions,
it's reshaping strategy from capital gains to roth conversions. The
rules are shifting and smart investors are already adjusting. If
your portfolio isn't aligned with the new tax landscape, you
could be leaving serious money on the table. So stick around.
(18:48):
We'll be breaking it all down. Eight three to three
Maggie Tax. That's a three to three Magi tax, and
don't forget tune in every Sunday on ABCTV to the
Maggi Tax the Financial Show. It to a thirty minute
show eight three to three Magi Tech.
Speaker 1 (19:02):
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
Maggi tax dot com or call eight one three three
(19:25):
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 3 (19:40):
Welcome back to the Maggie Tax and Financial Show and
I'm here with my dad and coast of the show,
Robert Maggie. So we're talking about a lot of different
things today, but taxes just changed again, and if you
think it's just about brackets and deductions, we got to
start thinking bigger. The new tax bill is rewriting the rules,
and your investment strategy needs to keep up, whether you're
managing portfolio, building, retirement income. We're just trying to stay ahead.
(20:03):
This isn't the time to guess. And today we're breaking
down how smart investment planning intersects with the latest tax
changes and what you can do right now to protect gains,
minimize exposure, and stay strategic.
Speaker 2 (20:15):
That's what we do, and so that let's talk about here.
Speaker 3 (20:19):
One of the things that we talk about is investment
planning and how it correlates to taxes.
Speaker 2 (20:23):
So what do you want to add, Well, let's talk
about one of the biggest thing people ask about capital
gains and timing strategies. How does that apply? And we
get these questions all the time. What do we normally
explain to our clients, what strategies, what you know concepts
we could use.
Speaker 3 (20:38):
Well, we want to explore how changes the capital gains,
tax rates or the threasholds affect when and how investors
should realize these gains. Let's talk about what realizing gains means.
Because there's unrealized there's realize gains. Many people have no
idea what that means. But let's use this example. Say
you put one hundred thousand dollars in investment and maybe
six months from now it's worth one hundred and twenty thousand. Well,
(21:00):
that one hundred thousand went up to one hundred and
twenty that's a twenty thousand dollars what we call unrealized
meaning it hasn't been sold, so it's unrealized gain. So
if you sell it, then you got to pay tax
on the twenty thousand dollars gain. Once you realize the
gain is when you actually sold it, so then you
got to pay tax on that twenty thousand. So the
tax brackets changed. Sometimes it's zero percent tax on these gains.
(21:24):
Sometimes it's fifteen percent, sometimes it's ten percent, sometimes as
much as twenty percent on capital gains, depending on your income.
So why is tax planning and investment planning so important
to work together and have the right advisor.
Speaker 2 (21:38):
Well, because when you get your taxes done and you
start to see what the bottom line is, and you
pay a lot of tax and the question we get,
I think I'm paying too much in taxes, and the
answer is no, you're not. You're not paying enough. And
there's a perfect example what you're talking about. If they
sold the stock or they had a large capital gain,
that applies, and it applies in income that they have
on their tax return, and it's either going to raise
(22:00):
their taxes, which I would bet ninety percent of people
and you and I know this don't withhold enough taxes
when they do something like this, when they sell a
stock or a piece of property, they just get the
money and they don't do nothing with it.
Speaker 3 (22:12):
That's exactly right. So tax planning throughout the year, whether
it's January, February, March, April, June, whatever, August, September, it
doesn't matter. We're always talking about tax planning as well
as how it it relates to your investment. So we
can sit down with you and show you that if
you sold that investment and you had a twenty thousand
dollars gain, maybe there's no tax to pay. Maybe you
will be encouraged to pay the fifteen percent tax.
Speaker 2 (22:33):
I don't know.
Speaker 3 (22:34):
That's why everything that we look at is your complete plan.
We'll look at your taxes, your investments, your income. We'll
talk about all these different things and give you the
advice so you can pull a trigger on what to
do is best for you. So pick up the phone,
schedule time to meet with us. We have office on
both sides of the bay to help you. Eight three
three Maggie Tax. One other stuff that we can talk about.
Speaker 2 (22:53):
Well, in addition to that, they are always to upset
the capital gains tax, which we can show you, but
we can't do this on the radio. So if you
have a highly appreciated stock or property, you need to
call us eight three to three Maggie Tax. Let's sit down,
show you that strategy and you will be shocked that
you didn't know this, but you can do it and
it's all right by the book.
Speaker 3 (23:12):
Well, that's this thing I mean you mentioned a great point,
and you're right, we can't talk about it today because
it's on there's too much to talk about on the show.
But what we're mentioning is we're more than happy to
talk about how it's gonna affect you. Let's just use
an example. Say you have one hundred thousand dollars property.
Now it grows to a million, there's a nine hundred
thousand dollars capital gain tax. Well, that's gonna pay a
hot in tax right there. But how can you bypass
(23:34):
the capital gains tax?
Speaker 2 (23:35):
Well, the strategy we use, we'd use different types of trusts,
use a crut or a crat that a lot of people,
you know, are surprised and don't know about, but you
could look it up. It's real and it's legal, and
a lot of people take advantage of this to avoid
the capital gains exactly.
Speaker 3 (23:48):
So that's why it's so important to meet with us.
So pick up the phone, schedule time eight three to three,
Maggie Tax. We'll be more than happy to go over
this with you if you have highly appreciated gains.
Speaker 2 (23:57):
And there's another reason why we encourage you to give
us a call, set down and talk to us about this. See,
everybody out there has a different situation. Some have capital gains,
some have losses, et cetera. You know, they talk about
discussed tax loss harvesting opportunities and the importance of holding periods.
We can go into that. But those are things, Chris,
that some people know about some people don't. But if
(24:17):
we get the right person and we explain it and
it benefits them, do you think they'd want to know? Absolutely.
Speaker 3 (24:22):
That's called tax planning correlating to your investment. So work
with an advisor who does both. You're leaving a lot
on the table if you have an advisor that's dealing
your investments that has no idea what taxes and how
they're going to affect you. So thick of the phone,
we can do it for you. Eight three to three
magi tax. We can do both investment planning as well
as a tax planning eight three to three magi tax.
Speaker 2 (24:44):
So let's kind of skip gears here and talk about
a lot of questions. We get roth convergence and retirement accounts.
This is important now in talking today about the deductions,
your standard deduction and now the extra six thousand that
you can put. There's ways that you can reduce the
tax on your IRA and four oh one k. Again, Chris,
if they just used the strategy that we're talking about,
(25:05):
that's exactly right.
Speaker 3 (25:06):
So you know, the new bill impacts roth conversion, timing,
contribution limits, and also requirement and distributions. You know what
our requirement of distributions. While we're on the topic, Dad,
let's talk about that.
Speaker 2 (25:16):
Oh man, let me give you an example right now.
I had a gentleman call me the other day. He
had a million dollar IRA, and he said, Bobby, you
know I'm sixty five years old. When do I take
this thing called the R and D it's required minimum distribution.
The problem that he had and he didn't understand, is
that at seventy three, because of the new rules, he
has to take out the required amount based on a
certain percentage. When we ran the illustration that I'm encouraging
(25:40):
all of you to go to on our tax on
our Maggie Tax website, he was shocked that he had
to take out almost forty thousand out of one account
and forty thousand out of another. But the shocking part, Chris,
was that it went on his tax return brought him
to a higher tax bracket. And caused him a big tax,
and he didn't want to do it. So one of
(26:00):
the strategies we use a strategic rollouts where we had
seven years from sixty five to seventy three to roll
his money out based on his tax situation and his
tax bracket, to pay the least amount of tax and
have more tax free money. How good is that?
Speaker 3 (26:15):
My gosh, that's called tax efficient planning with your investments,
and that's what we do. So you know, instead of
having a forty thousand dollars distribution that he didn't need
or want, it just raised his income. He didn't want
to pay the tax on it because now he's in
a higher tax bracket. It's sold security to getting tax
eighty five percent. And guess what he's saying, this is
not what I want to do. I wish I had
the planning. So that sixty five year old who was
(26:36):
in a similar situation, we did some strategic planning. So
now when he got to seventy three, because that's the
age that you have to start taking what they call
the requirement in distribution, he didn't have to take out
forty thousand. Now we just create a tax free bucket
for himself. Now the RMD requirement in distribution was a
lot less. And guess what now his tax on Social
Security was zero and he had the income that he
(26:58):
wanted in the most tax division way. So where we're
going with this is pretty simple. I know a lot
we're talking about, but complete planning. Make this simple for you.
Create the Maggie Plan. The Maggi Plan is simple. It's
a plan for you. It's your plan, it's your money.
It consists of tax planning, income planning, where's the best
spots to take your money in the most tax efficient way?
Investment planning. We'll get into that in a little bit.
(27:19):
But how can you invest your money in the right
portfolios for growth and for security and preservation of your money?
What about state planning? We do all these things to
help you. Eight three three Maggi tax.
Speaker 2 (27:28):
The biggest question that we ask all of you is
do you have a plan? What we're talking about taxes?
We're talking about investments here. So let's go to another topic.
He what about tax efficient investment vehicles? We get this
all the time, you know, we look at their portfolio,
that got all these portfolios in there, different accounts, and
they go, where's the tax efficient investment vehicles. Where are they?
(27:49):
Why isn't my advisor telling me so, Chris? Why don't
we just dive into that a little bit? Absolutely?
Speaker 3 (27:53):
Well, we can compare the tax treatment of ETFs called
exchange strate of funds, municipal bonds, it's real estate investment trust.
See a lot of people use mutual funds. There's diffiden
pain stocks under the new rules. These are the things
that we're talking about. Asset allocation, what's taxable, what's tax advantage?
Speaker 2 (28:12):
Growth?
Speaker 3 (28:12):
These are the things. I mean a lot of people
talking about exchange trade of funds and how they're cost
efficient and how do they put together in your investment
plan to generate tax efficiency and also lower costs. These
are the investment side that when you come in to
meet with us, we're going to analyze all these different
vehicles for you. We see a lot of people come
on in and they have no idea what type of
(28:33):
risk they're taking with their money. They're taking a lot
of risk, but they want preservation of their money. Some
people want more growth, but guess what, they're too conservative
in their investments. So how do you allocate this? Well,
tax diversification and investment allocation, These are things that we
can do on the investment side to help you. So
pick up the phone, schedule time to meet with us.
If you have accounts that are all over the place
(28:54):
and just have piles of money, then now is the
time that put those piles into buckets where we strategically
have a purpose with them. And that's what we can
do on the investment side. You know, whether it's for growth,
whether it's for safety, whether it's for inflation protection. We
can always sprinkle an inflation protection bucket on there to
with maybe gold or presh metals or something that's actively managed. Right,
(29:15):
these are things that we can do. So there's a
lot here to help you. A three three magi tax,
that's a three three magi tax.
Speaker 2 (29:21):
One of the biggest things that we talk about is
asset allocation. And most people that we talk to don't
understand asset allocation, especially when we talk about like red money,
green money, and how to protect it, because what we
see most of the time is that people have their
money in risk, not in non risk. And when we
sit down and do this asset map that we talk
about here, it's going to help them understand absolutely.
Speaker 3 (29:43):
So that's why it's so important to pick up the phone,
schedule a time to meet with us A three to
three mag A Tax. We have office on both sides
of the Bay three office in the Tampa Bay Area.
Visit our website Maggi tax dot com. That's m a
Ggi tax tax dot com.
Speaker 2 (29:59):
So what we've done today we've unpacked how the new
tax bill reshapes investment planning from capital gains, which is
a big question to roth conversions. But strategy alone isn't
enough to truly protect and grow your wealth. Every piece
needs to work together. Taxes, investments, insurance, state planning, cash flows.
Is your plan set up that way? And you know
(30:20):
this is what we try to do with every client
coming in because you have to see how do you
get to first base to second base to third how
do you score that run? And scoring that run means
tax savings, investment planning, income planning. This all ties together.
I know it's simple that I'm saying that, but this
is exactly how you have to look at your investments.
Give us a call eight three to three Maggie Tax.
(30:41):
We have offices on both sides of the Bay And
you know the thing is right now that people are
confused and isolated. So next up we're putting it all together.
What does a complete financial plan actually look like? And
how do you build one that adapts, protects and performs
for you? And that's the way it's going to be
so because clarity isn't just comforting, it's powerful. Eight three three,
(31:05):
Maggie Tex.
Speaker 1 (31:07):
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 gg I tax dot com or call eight one
(31:28):
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 (31:45):
Welcome back to the Maggie Tax and Financial Show, and
you can go to our website Maggie Tax dot com.
Be sure to give us a call. Eight three three
Maggie Tax. We talked about an awful lot today, so
make an appointment let's answer your questions. And you've heard
the process. So you've heard the pieces, tax strategy, investment planning,
retirement moves. But now it's time to bring it all together.
What are you doing about it? What is your biggest
(32:07):
question and what would you like to be answered? A
complete financial plan isn't just a stack of statements or
a few guesses. That's not going to work. It's living
a blueprint. Your blueprint built to adapt, protect and perform
through every season of life. We call it the Maggie Plan.
It's really simple and easy to understand. It's a tax plan,
it's an income plan, it's an investment plan, it's an
(32:29):
estate plan. It's a legacy plan. So do you have that?
And if you don't, give us a call. That's what
we're talking about today eight three to three Magi Tax.
Speaker 3 (32:37):
And today we're walking through what a truly integrated plan
looks like, the core components, the common gaps, and how
to make sure your money is working as hard as
you are. So pick up the phone eight three three
Magi Tax. Let's put together a plan for you. We
have obvious on both sides of the bay to help you.
So the first part of this whole thing is integration
is everything you know. A strong financial plan aligns with
(32:59):
tax stratges, investment opportunities, insurance, and estate planning into one
cohesive system, not silated decisions. And when we do this,
we see because we've been in the business, we've been
in this business so long that we see that many
people come in and they have a retail advisor. What's
a retail advisor? Retail advisor someone who just sells a product.
(33:20):
Maybe they sell them an investment, maybe they just do
the tax preparation. They don't do any planning. They don't
do any tax strategies to harvest, they don't do any
estate planning. So what we're talking about here is when
you work with an advisor and you deserve this, that's
where the big boys are. They have complete planning. When
you think about athletes, they have many people working for them.
(33:41):
They just don't have They don't sign these deals, these
record breaking contracts and have one advisor just selling them
a product. They have a team. And that's where we
are at MAGI Tax Advisor and Financial Group. We have
the components to help you put together your plan. A
three to three MAGI tax.
Speaker 2 (33:57):
And one of the things that's important is most plans
we see miss the mark because it's not prepared correctly.
Common gaps include outdated assumptions they were maybe a year ago,
two year ago, not like today. Lack of coordination between advisors.
Does your advisor talk to your tax person? Does your
tax person talk to your advisor? Not really? And failure
to stress test for real life scenarios. What's the situation
(34:21):
today as opposed when you did that a year ago.
So your plan should be proactive, not reactive. And the
best plans anticipate change because that's what it is. Change
is happening everywhere every day on everything from market shifts
to life transitions and adjust with precision, not panic. And Chris,
I think what happens is a lot of people they panic,
they don't know, and they do until they come in.
(34:43):
And we've seen it many times. The person, the couple
will sit here and go like, wow, my guide doesn't
tell me about that, And you know what the problem is,
you as well, You should be asking, don't be afraid,
and that's the way it works. Well, that's the thing.
Speaker 3 (34:55):
I mean, many people they seek help, right, they're looking
for the right advisor, listening to today's show, you're thinking, well,
should I go see them or should I just stay
with my advisor? Well think about it. If you're looking
for a complete plan, then come see us. Let's have
a conversation. We're adults, right, I mean, if things are
in line and you like the processes that we have
to help you, then we can implement the plan. You know,
(35:17):
if you meet with us and you don't like what
we do, or you like what your advisor does, then
then you can stay with them. But you owe it
to yourself to do the right thing for yourself and
your family because we talk about we talk about the
changes and tax laws that and the bills and the
things are changing.
Speaker 2 (35:33):
We just heard that throughout today's show.
Speaker 3 (35:35):
And if you're not doing anything about it, you're missing
the opportunity for yourself and your family.
Speaker 2 (35:40):
And one thing I'll say, and I said it before,
if you're curious, then you should be. This is what
this show is supposed to do. Make you curious about it,
and then let's get serious because that's the blueprint, not
just theory, but a framework you can act on. Because
a complete financial plan isn't built in a day. And
let me give you an example. If someone and you
meet with an advisor and they want to move every
thing that you have, whoa slow it down, do a
(36:02):
little piece of a time and build it the way
you want it. Not just jump in and see how
deep it is. Let's see how this thing progresses. But
it starts with one decision, Chris, one decision to see
where the groundwork starts and then build it from there.
Speaker 3 (36:14):
And that decision is very very simple. I mean, if
you listen today's show, pick up the phone, schedule a time,
the meme with this. You know, we're a family business.
We've helped a lot of people, but we make things
simple for you to understand. And decision that you need
to make is do I want to come in and
meet with you and let's do it. You know again,
we're adults. Let's have a conversation and we're not going
to sell you anything. That's what we're looking for. We're
(36:35):
looking to help you. We're looking to put together a
pleaplan because you deserve it. Eight three three Magi tax
that's eight three three magie tacks.
Speaker 2 (36:42):
And think about it this way, whether you're refining your strategy,
you're building from scratch, the goal is the same clarity, control,
and confidence in every dollar that you earn, every dollar
you invest and protect. And that's where I think a
lot of people don't see that because they look at
the whole pile. We talk about piles of money, but
you should be looking at piece of it a little
(37:03):
bit out of time. And that's what we do because
I think the intimidating fact that Chris mentioned it before.
A retail advisor is going to sell you the whole
ball of wax. Okay, a complete advisor is not going
to do that. That's what we're talking about today, income planning,
tax planning, okay, a state planning. And this is what
you have to think about because things have changing. And
now that you know about the new tax bill and
(37:24):
how it's going to affect you, sit down and let's
do it. Let's do it. Let's do a review. You
have nothing to lose, okay, nothing to lose, but knowledge
and understanding what the language is in your plan, not
the language in someone else's planning. Chris, I think that's
basically where I see and you see it the same thing.
Every day. We get calls every day, what about this?
What about that? That means you're curious Okay, if you're curious,
(37:47):
there's nothing wrong with that, and I hope the show
makes all of you curious, but seriously, get serious.
Speaker 3 (37:52):
Absolutely so we thank you so much for joining us today.
If this spar questions or ideas, don't let them sit idle,
reach out, dig deeper and take the next step. Your
future deserves more than just guestwork. So if you want
an income plan, we can help. If you want an
investment plan, we can help. If you want tax strategies
to help you reduce your taxes, we can help. If
(38:13):
you want a state plan, we can help. And that's
what we do here. So at Maggi Tax Advisory and
Financial Group, we put together all those pieces to generate
a complete plan for you. And as I mentioned before,
and I'll say it again, this is so important. Your
future deserves more than just guestwork. Visit our website Maggie
Tax dot com. That's m A G G I t
(38:33):
X dot com. And don't forget. Every Sunding on ABC TV,
tune into the Maggie Tax at the Financial Show eight.
Speaker 2 (38:38):
Three to three Tax.
Speaker 1 (38:42):
You've been listening to the Maggie Tax on Financial Hour
discussing tax planning, investment, strategy is presented by Robert and
Chris Maggie from Maggie Tax Advisory and Financial Services with
offices in Hillsboro and Panela's 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
(39:04):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
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