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
and tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty, or visit Maggie
Tax dot Com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:52):
Welcome everyone, and thanks for joining us today. My name
is Robert Maggie and I'm here with Chris Maggie, and
be sure to visit our website, Maggie Tax dot Com.
Today we're going to talk about some topics, but register
for our seminars. It's a three and one. We'll talk
about that throughout today's show. And also go to the
retirement tax calculator so you could see what your retirement
tax bill is going to be. These are two important
(01:15):
spaces that you can go to to find out information
for free. And we're going to talk about our three
and one seminar today because it's going to help a
lot of people. Also visit our website Maggie tax dot com.
Be sure to watch our TV show every Sunday at
ten thirty am. It's about education and we have a
lot of topics to talk about today, so let's get going. Chris,
(01:36):
and you know, I'm excited about this because we put
a three and one seminar together. It's been very successful.
We talk about a state planning social security and taxes
and a lot of advisors out there aren't doing any
of that, and I can tell you from the results
that we've had, as you know, it's been very well received.
Well that's just it.
Speaker 3 (01:51):
So welcome everyone. I'm Chris Maggie and thanks for tuning
into our show. And you know, each and every week
we talk about education and if you're not working with
a complete planner. You're missing boat because most advisors out
there just deal with investments and really, you can invest
your own money. It's not that hard, really, but most
people don't complete the rest of the story. And there's
(02:12):
income planning, and there's tax planning, there's investment planning, there's
social security maximization planning, and then what we're talking about
today is a state planning. So what's a state planning?
And what documents do people need in Florida.
Speaker 2 (02:24):
And that's a big question because a lot of people
Chris bypass it. I believe sixty percent of the American
people don't even have a will. And that's said because
when you pass away, you want to make sure that
your assets are title correctly. We talk about this every
time about beneficiary designation and make sure it goes to
who you want. So when you go up to heaven
and you're looking down, what is your family picture going
(02:46):
to look like? Is it going to look like people
are fighting or people are just you know, relaxed and
got everything the way you want it? And that's important.
So what state planning documents do we need in Florida.
Let's talk about that. So a state planning or enhance
planning applies to all of you. And I'm not you know,
I don't care how old you are, but it applies
to all of you. So register today at Maggie tax
(03:07):
dot com, click on seminars and all the locations and
times are listed, and we do the seminar at libraries
because it's about education. And like Chris said, we educate
a lot of people throughout the week and throughout the
year and throughout our career because it's about learning the
language and understanding what to do. So a library is
a great place to learn. And another reason to attend
(03:28):
is what I give you all a free copy of
our first book that we wrote. Stop funding Uncle Sam's
retirement and get a plan that's simple and easy to understand.
And we call it the Maggie Plan. It's a tax plan,
it's an income plan, it's an investment plan, and more importantly, Chris,
it's a legacy plan. So there's a lot that we're
offering there, and it's very easy to attend, and it's
like ninety minutes, so why not show up?
Speaker 3 (03:49):
Absolutely, So visit our website at Maggie tax dot com.
There's so much information right there. So let's discuss what
documents are required in Florida. There are a handful of
things that need to be sorted out before you can
set things in stone to ensure that everything goes smoothly.
You want to avoid the probate process, and you don't
want to go through probate if you don't have to.
(04:10):
And most people they just don't know what they don't know,
and they just think that's just the process. But it
doesn't have to be that way. So as I talk about,
things have to go smoothly, but it can be a
lot for a single person to keep track of and
not everyone may understand the terminology that's involved. So that's
why you need to meet with the right advisor. That's
why Maguita's advisory is here to let you know what
(04:31):
documents are needed for a state planning and an explanation
of what they're for. So we work with a national
group of attorneys to get all the documents that you need.
Every situation is different, but the question is what is
a state planning? And here's a brief summary that once
you go into that and talk about what a state
planning is.
Speaker 2 (04:49):
Sure, and again a lot of people don't spend a
lot of time on this, but you know it's something
that you have to think about. So what is a
state planning? So a brief summary that make this easy.
Things can happen that they put us in a situation
where unable to communicate our intentions when it comes to
our assets or our own well being. So, whether it
be from a sudd disability and inability to speak freely
(05:11):
or the act of passing, there are a number of
reasons that could cause you to relinquish control of your
say in things that you want to have done, not
someone else. So a state planning prepares you for these
outcomes by setting your wishes in place should any of
these things occur. And Chris, not when someone sitting on
a hospital bed in a coma, or you know, dementia
(05:33):
sets in before that. That's what this is all about.
To take the time to sit down and do it.
And you'd be surprised how many clients have we met
that sat down and said, Wow, I didn't think it
was this easy, but I'm so glad I did it
now absolutely.
Speaker 3 (05:44):
I mean, we just met with a beneficiary of a
daughter who mom passed away just last week, and you
know we met with them two years ago. Do the
estate planning side of the whole complete plan and guess
what she came in. She had a death certificate, she
was the beneficiary with her brother, and guess what. Things
passed smoothly as can be and that can happen for
(06:05):
you as well. And estate planning or estate planning involves
a few types of documentation to ensure that the results
that you desire. Each of these papers covers your rights
in their corresponding fields and you can enjoy the peace
of mind by getting it all down in writing. That's
what it's about. But also you have to make sure
that things are notarized. Just keep in mind that it's
(06:26):
important to avoid common estate planning mistakes since you won't
be able to fix them after it's too late. So
such documents are your last will and testament. This is
often seen as one of the most important documents that
you can sign. Your last will and testament will make
sure that your assets go to the people that you
want them to go to. This can also be used
to designate specific people to be the guardian of your
(06:46):
mind and children. Without this document, there's no guarantee that
your wishes will be fulfilled after you pass registered for.
Speaker 2 (06:53):
At seven are we do a state planning segment on
that to help you. We have a nice marketing piece
that will give all of you to kind of fill
in the blanks. You know, who's going to get what,
How does it work for a husband and wife, the
whole thing. So register at our website, Maggie Tax dot com.
That's what we're talking about today. I invite all of you.
It's very simple. Go to Maggie tax dot com, look
for seminars and the dates are there for August and
(07:15):
it's free. There's no cost, there's no obligation. But the
bottom line is we have done this and I have
done many seminars in my career. It's about education. So
if you're coming to a seminar to get educated, we're
at the right place because it's at the library. Please
don't come to a seminar and expect to be sold something.
That's not the way it is Christen to me today.
The language and the education is so important for everyone
(07:38):
listening to today's show, Well that's it.
Speaker 3 (07:39):
So that's why we do complete planning. We call it
the Maggie Plan. It's a tax plan and it's an
investment plan, it's an income plan. It's state planning. You know,
it's legacy planning, it's so security maximization planning. And we're
talking about today in this topic here at State Planning,
and you know we do complete planning, so we can
help you in a lot of different ways. Let's discuss
what a living trust is.
Speaker 2 (07:59):
Sure on this. This is one of the questions we
get all the time. So how can you make sure
that your positions are going to be distributed how you wish?
That's the most important thing. And you can personally choose
someone that you know to be the trustee to handle
all of your assets for you after you pass, to
give you greater peace of mind. It says like speak
from the grave. So you are also able to change
(08:20):
your designation to designate a trustee as many times as
you'd like, for as long as you are alive. And
here's the question. As you put a trust together, you
have a trustee, but you can change them. You have
full control, right, you can buy, sell, you can still
manage the whole trust. But it's more protection for you
because you're doing it.
Speaker 3 (08:39):
And what's really important is that a trust avoid it's
probate and also it's private, so God forbid you passed away.
Something happens to you people out there, it doesn't have
to go through the probate process. It's not public data.
It's private, so no one's going to know what you
have and what your wishes are. So that's why it's important.
These are some of the documents that we're talking about
when you talk about state planning and enhance planning. So
(09:02):
pick up the phone, schedule time to meet with us.
If you don't have a will, you're looking for questions
about a trust or state planning, we have the attorneys
here to help you. Eight three to three magi tax.
That's eight three to three Maggie tax. So what are
other documents that are part of the estate planning process.
Speaker 2 (09:17):
Another document is a power of attorney. So if you
are ever in a situation where you are unable to
make important decisions yourself concerning your property, financial matters, and
other assets, a power of attorney can make those decisions
on your behalf. So you would want someone that you
could absolutely trust to handle such important matters. And this
(09:38):
document will establish who will be your power of attorney
should you ever need one. And Chris, this is the
documents that the people missing that we see all the time.
Speaker 3 (09:46):
That's right. So let's talk about healthcare directives. So setting
up your healthcare directives is almost like having a power
of attorney, but for medical concerns. You can state what
types of treatment you do and do not want, what
surgeries you approve of, whether or not you would like
to do it at your organs, and so on. So
since these concerns are something that's very personal to you
and it's your own body, it's very important to have
(10:07):
such matters clearly written. So reach out to us at
Maggi Tax Advisory and Financial Group. We can help you.
We can help and help you in a lot of
different ways. We can preserve your family harmony and protect
your legacy. That's what it's about. So we have a
question for all of you. How often do you play
the estate game in your lifetime? How do you know
how well you did? You're never gonna know until you
(10:29):
actually get it done. So that's why it's important to
meet with us. Pick up the phone and schedule time
to meet with us eight three to three MAGI tas.
Speaker 2 (10:37):
Be sure to register for US seminars. Go to Maggie
Tax dot com right now hit seminars. You'll see the
seminars coming up in August and every month after that.
So it's up to you get educated. We're trying to
help everyone out there. Eight three to three Maggie Tax
and don't forget Every Sunday of ten thirty, what's your
TV show on ABC, The Magi Tax on Financial Ship.
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
Maggi Tax dot com or call eight one three three
(11:19):
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, and
we welcome everyone today and thank you so much for listening.
Do you have an action plan to remove the irs
from your retirement picture? That's a great question. We have
that plan and you should too if you just work
with the right advisor. And I tell you why, because
taxes will increase Your retirement is about taxes. Taxes are
(11:58):
our biggest expense. We have proven strategies to dampen Uncle
Sam's impact on your retirement. If you want to take
the irs wildcard out of the deck, then we can
help pick up the phone and schedule time to meet
with us. Eight three to three Maggie Tax.
Speaker 2 (12:13):
And we have many proven strategies that have proven indispensable
in getting our clients to a zero tax bracket. But
it becomes understanding the language and it's well worth the
time to meet with us. We want to make it
simple and easy for you to understand, and the principles
and tax strategies that we use have empowered meet to
sound the alarm and rescue many of our clients' financial
(12:35):
future and security from the looming threat of higher taxes.
We talk about this all the time. The retirement tax calculator.
Why because you're going to pay a lot in taxes,
so we can help you. Give us a call eight
three to three Maggie Tax and we could put the
Maggie plant together for you. Chris, and you know that's
what people are looking for.
Speaker 3 (12:54):
Help absolutely, and that's it. You know, help why because
you don't know what you don't know? And that's okay.
You know, we do this every day. We retire every
day you retire once. Think about that for a minute.
You know, we do this every day. You need some
help and we can help you. So pick up the phone,
schedule time to meet with us eight three to three
mag attacks And our passion is for designing solutions for
our clients. It's unparalleled in the industry, and that's why
(13:18):
we're different. You know, we have a niche where we
help people have tax free retirement accounts and tax free income.
We provide specific strategies and iris approves solutions and why
it is so important to reduce your income taxes and
look forward to a future of a zero tax bracket.
Speaker 2 (13:36):
You know, we have.
Speaker 3 (13:37):
Clients that are receiving one hundred thousand dollars a year
in income and our pan of diamond tax why because
they develop these plans. We put together these plans for
them and guess what, they're reaping the awards right now
because now they don't have to worry. They eliminated Uncle
Sam forever, you know.
Speaker 2 (13:52):
And the thing here that we're trying to make you
understand is that we understand taxes. We understand the tax codes.
They are there in the have been there for years,
but maybe your tax preparer is not using it. You know,
us taxes are poised to rise dramatically. Think about it
in twenty twenty six. It's gonna the Trump tax cuts
are gonna expire, and the math is very clear and
(14:14):
very simple. We have the most up to date strategies
for anyone listening to our show wanting to retire, because
that's the biggest question we get, Chris, can I retire?
And when we sit down and show you you can,
you're probably in a better situation that you can retire,
only because you don't know. Like Chris said, what you
don't know and that happens a lot, Chris.
Speaker 3 (14:34):
Right, absolutely, And that's why it's so important to sit
down and have a conversation. Why because you don't know
what you don't know? And if we can educate you
and we can show you that this is what you're
doing now and this is what you can do, would
you want to know? And the answer is absolutely so.
All you gotta do is pick up the phone and
schedule time to meet with us. We have obviously on
both sides of the bay. And when you come in
to meet with us, we're gonna have a conversation. You know,
(14:56):
we're gonna learn more about you. We're gonna look at
your situation, taxes, your accounts, figure out what your strategy is.
Do you have an income plan? Do you have a
tax plan? Do you have an investment plan? Do you
have an estate plan? Do you have a Social Security
maximization plan? What about a Medicare plan? These are questions
that many retirees are answering in each and every day,
(15:16):
and they just don't get the answer because they don't
know where to go. Well, it's very simple eight three
to three, Maggie tax.
Speaker 2 (15:21):
So think about it. Without these techniques that we're offering,
you are at the mercy of circumstances beyond your control.
What do I mean by that called legislative risk. Legislative
risk means the Congress can change the rules anytime it's
written in pencil, and every year we see this. So
things are changing right now. So like it or not,
taxes are likely to rise, and now is the time
(15:44):
to reposition your assets now to avoid higher taxes in
the future. Now is the time, Chris. How hard do
we have to say that to people? Because it's getting
closer and closer to the Trump tax cuts expiring, and
people that are listening to the show may not even
be aware of it.
Speaker 3 (16:01):
But things are going to change, we last I said,
and you know, visit our website at Maggie tax dot com.
There's so much information right there at your fingertips to
help you. And that's why we're here. If you're serious
about maximizing your income and retirement, we use strategies to
help our clients become as tax efficient as possible. It's
not just about what accounts do you have, and you
know we can do this and that, and we can
(16:23):
increase it and we can have this strategy. It's not
about that. It's about taxes. It's about the whole picture.
It's about complete planning. Yeah, you have a CD at
three or four or five percent whatever, but what are
you doing with that? How are you maximizing on the
tax side of it. That's what we're talking about here.
We can guide you through the coming tax crisis by
helping you take advantage of the power of a zero
(16:46):
percent tax bracket. Who wants to get there, We can
show you how to do it by using the strategies
that we develop a three three Maggie tax and.
Speaker 2 (16:55):
Again we do advanced tax planning. We understand taxes. When
you come in, we'll sit down with you, we'll go
over your tax return line by line. Because if you're
looking for a roadmap to shield your hard earned assets
from the impact of taxes, we can help. I say
that every week by talking to you about the strategies
that we use have transformed retirement and protected them from
(17:18):
tax train wreck that is just around the corner. Think
about it, a tax train wreck. That's what's coming, Chris, and.
Speaker 3 (17:25):
It doesn't have to be for you. And you can
get out of the way of that. And that's why
there are clients that are going to pay a lot
in taxes. And then those clients who eliminated Uncle Sam
forever and ever now so don't have to worry about
that in the future. Many of our clients are well
prepared for retirement. With just a little bit of proactive planning,
you can insulate yourself from the threat of higher taxes
(17:46):
by creating a total tax free retirement plan and how
do you go about doing that? Well, the first step
is schedule time to meet with us. We have officers
on both sides of the Bay, and every Sunday we
have our TV show, Maggie Tax Financial Group, and guess
what we know to talk about taxes and tax planning
and social security planning and income planning and tax planning
(18:07):
and investment planning. That's called the Maggie Plan. That's the
holistic approach that we take. But we take it from
a tax angle. Why because that's your biggest expense and
it will always be unless you eliminate Uncle Sam. So
how do you go about doing that? We can help
pick up the phone and schedule time to meet with us.
Eight three to three Maggie Tax.
Speaker 2 (18:24):
It's called the Maggie Plan, simple and easy to understand.
It's a tax plan, it's an income plan, it's an
investment plan. It's legacy planning. And many of you don't
have that, So give us a call eight three to
three Maggie Tax. Be sure to visit our website, Maggie
Tax dot com. We have a lot of information on
that site, and be sure to click on the retirement
calculator and in thirty seconds we can show you what
(18:45):
your retirement bill will be. We have offices in Loots,
we have an office in Palm Harbor, and we have
an office in Saint Pete. Very easy for all of
you to get to visit our website Maggie Tax dot
com and give us a call eight three to three
Maggie Tax. That's Maggie Tex.
Speaker 1 (19:01):
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
(19:23):
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 in Financial Group, Robert and Chris Maggie.
Speaker 2 (19:38):
Welcome back and you're listening to the Maggie Tax and
Financial Show. My name is Robert Maggie and I'm here
with Chris Maggie. Today we're talking about taxes and some
strategies and concepts that you could use. The biggest thing
is make an appointment. Sit down with us. Give us
a call eight three to three, Maggie Tax. Let's discuss
your situation, answer the questions you have, because I know
a lot of people are confused. So I want to
(19:58):
go back to a couple things we talked about. But
here's an example of what we're trying to help you with.
And let's just say that you're sixty three years old,
you have a two hundred thousand dollars IRA, and you
may want to convert it. So let's also say that
you have a twenty five percent tax liability and your
account grows at five percent per year. And you can
really put any numbers in here, but I just want
(20:19):
to use this for illustration. So here's the total amount
of taxes that you could potentially pay from that two
hundred thousand dollars from today through age ninety. So if
you keep the qualified account, the total taxes that you're
going to pay on the RMDS is going to be
about seventy three thousand, nine hundred and forty three dollars.
And then you've got to pay tax on the reinvested rmds,
(20:40):
which a lot of people don't think about about thirty thousand,
and the tax is paid on the remaining account when
you pass away of forty seven thousand dollars. So the
total taxes paid is one hundred and fifty two thousand
on that two hundred thousand dollars IRA. Why are we
breaking this down because this is what you don't see
when you start taking money out of your ra. Now,
(21:01):
if you converted that irate to a tax re option,
you would pay taxes on the conversion of fifty thousand,
and that's it. You don't pay any more taxes. Is
that shocking because a lot of people see Chris and
they go, wow, how can that be? Because you're taking
off one thing? You say, you're ripping off the band aid.
Speaker 3 (21:18):
That's it. So can you rip off the band aid?
Should you rip off the band Aid? The answer is yes,
and depends on your situation. Right. So that's why it's
so important to meet with us, because what this client
did was they went ahead and said, I don't want
to be in an area or an environment that's infected
with taxes. I want to be in an environment that's
totally income tax free where he can breed the clean,
(21:38):
fresh air of tax free income. And that's what he
was looking for. So what are you looking for? That's
the question that we are going to ask you. So
when you come to meet with us, we're going to
ask these questions. We're going to show you what the
tax liability is going to be, and we can do
some some strategies. We could do a lump sum, we
could do a strategic rollout, we can do it over time.
Whatever we got to do to see if we can
(22:00):
help you benefit you. And so you now you have
tax free money. That's what it's about. So when taxes increase,
guess what. If you have tax free money, you don't
have to worry about it. So why not put yourself
there if you can, and we can show you how
eight three to three Magi Tax. Pick up the phone,
schedule time to meet with us. We have office on
both sides of the day to help you. Eight three
(22:22):
three Maggie Tax.
Speaker 2 (22:23):
Now, when you come in, we can show you this
illustration because I know it's hard to see on the radio,
but keeping your IRA in that situation's going to cost
you an extra one hundred and two thousand and taxes.
And if you spent the R and ds rather than
reinvesting them, it's still going to cost you an extra
seventy two thousand to keep the IRA. That's just the
way it is. I mean, there's nothing we can tell
you that's going to be different. It's real. So when
(22:44):
you run it from a tax standpoint, this is what
you folks need to see. And by the way, we
can run this tax analysis for all of you when
you come in, and it's part of what we do
every day at Maggie Tax. And here's a better option.
Now that you know the truth about tax deferral, let
me give you a better option. And here at Maggie Tax,
we believe the most powerful tax free option. This is
(23:04):
another one that a lot of people don't discuss. It
may be good for some, it may not be good.
Is Index Universal Life. And some of you might qualify
and some may not. And that's why we have to
meet and see if this is an option. So by
converting some of your tax deferred assets into tax free
Index Universal Life, you could save hundreds of thousands of
dollars in taxes. We've helped a lot of people do that.
(23:27):
You can increase your income in retirement tax free and
you can reduce the risk and volatility in your retirement portfolio.
So if you want to learn more about that, call
my office right now eight three to three Maggie Tax
or visit Maggie tax dot com and set an appointment
today and let's schedule the time to talk about this,
and let's talk about tax risk and legislative risk and
(23:48):
what the heck is the difference. As things stay hot
in Washington, I'm getting asked this question more and more.
Both are risk that can dramatically impact all of you,
and both our risks chris that most savers are underprepared
to address. And that's confusing because they're not educated on this.
It's the language that they don't understand. Well, that's just said.
Speaker 3 (24:08):
I mean everyone thinks they have to go through those risks.
You know, if the mark goes down, they think, well,
everyone's gonna lose money.
Speaker 2 (24:13):
Well, no, it doesn't happen that way.
Speaker 3 (24:15):
They think, well, everyone's going to pay taxes. No, not,
everyone's going to pay taxes. And if you do the
right strategies, you can control your retirement. You can control
the amount that you earn, you can control the volatility,
you can control the tax side of this. You can
even control how it transfers to who you want it
to go to. These are things that we do each
and every day. Do you have these plans? If not,
(24:37):
why not. That's what we can help you with. So
we have office on both sides of the bay to
help you. But my dad is talking about a lot
of different things here. When it comes down to your
retirement and income. Your retirement assets are going to be
affected by the taxes. Your current income and your future
income are going to be affected by the taxes because
as they raise the tax brackets, guess what less income
(24:59):
to you, and then you and then you put inflation
on top of this, then it gets even worse. So
what are you doing about it? And that's why it's
so important to get a review. Pick up the phone,
schedule time to meet with us. Let's get together. Let's
have a conversation. When you come in, we're want to
look at your tax return, we look at your investments,
and we look at your income plan. And if you
don't have an income plan, we'll show you how to
get one. We'll do it for you. Eight three to
(25:20):
three MAGI tax.
Speaker 2 (25:21):
So tax risk is the risk that a person's taxes,
they're going to be higher in retirement then what you
plan for, and this means more of a retires income
is going to be we'll go to the I R
s as taxes, which means less income to you. So
you have to do something about this. And that's that's
a great point there, and Chris, they don't see this
more to I RS and less to you because if
(25:42):
you a big question we ask everybody when they come in,
how much income do you need every month to come
in the front door to pay your bills, to live
and do what you want without worrying? And that's a
you know, that's a question, Chris. The people can't answer.
They don't know the answer to. And it's confusing because
that's the groundwork that you and I start with, so
we could see what's going to happen when.
Speaker 3 (26:02):
It comes to taxes exactly we're talking about net. You know,
we can gross up the rest or if we have strategies.
We don't have the takeout taxes because we don't have
to pay them. So that's why it's so important to
make sure that you know how much you need per month,
especially approaching retirement. What is the amount you need for
the next thirty days to spend. I'm not talking about
put it going on a vacation or I'm not talking
(26:23):
about going on a cruise or to go on a trip.
Those things we can plan for. I'm talking about day
to day or month to month activities that you need
to cover to make sure that you have income coming in.
So these are things we can help you with. It's
called budget planning. Schedule time to meet with us. We
can help you eight three to three Maggie.
Speaker 2 (26:40):
Tax there's another word to use, budget planning. A lot
of people out there listening today don't even know about
a budget, don't have a budget. Well, folks, it's real
important when you sit down and look at what you're
spending and what you owe. You know what's coming in
the front door, how does that balance out. So from
a standpoint that Chris and I do, we do a
balance sheet on every client to see where your assets are,
which ones you're using for you know, income, which one
(27:02):
you're using for taxes, because that's part of the plan.
It's a tax planet, it's an income planet, it's an
investment plan, and it's a legacy plan. So folks, if
you're missing that you know, I encourage you to call
right now eight three to three Maggie tax pick up
the phone, make an appointment. Let's see we can help
you out because in short, tax risk measures the level
of taxation that you're going to experience in retirement. Now,
(27:25):
I know you're saying, well, I'm not retiring yet, but
that's okay because you want to plan for it, so
don't put that off until the year before you retire.
How many people Chris call us and say can I retire?
And we ask him when do you want to retire?
And in many cases they can retire but don't even
know they can. Well, let's just say it.
Speaker 3 (27:41):
So it's a great feeling when you can tell someone yes,
you could retire and they look at you like, well,
where am I going to get the income from? And
we can show them because we can put together buckets
of money where it has income producing account growing for
long term to combat the inflation as well and all
the best thing is that it avoids probat and stays
within the family, so you can leverage your money. You
(28:01):
can maximize your soil security benefits, you can have spousal benefits.
These are things that we talk about each and every
week because you need to know. You know, we got
a client that came in last week and we put
together a plan and they sat back and they said,
my gosh, I am sixty four years old and no
one's ever ever told me how to go about doing this.
And she was disappointed with her past. And she said,
(28:24):
I wish I would have found you ten years ago
because I would have been even in better shape. Because
now she has clarity, she's educated, she knows exactly what
she can do and what each account's going to do.
And she said, oh my gosh, I'm retiring on Monday.
I can't wait to come in. I see you again
the next couple of weeks, and then we can put
together and implement the plan to make sure it happens.
And that's what we're talking about today. If you don't
(28:47):
have a plan, why not we call it the Maggie plan.
What's the Maggie plant's tax planning, income planning, investment planning,
solid security, maximization planning. What about estate planning? If you
don't have a will or have attorney or maybe a
living trust is right for you, maybe it's not. But
these documents are important. They're crucial. Do you have beneficiary forms?
(29:08):
Do you have your account set up? If not, why
not pick up the phone schedule a time that maybe less.
Speaker 2 (29:13):
We can help you.
Speaker 3 (29:14):
Eight three three Maggie tax. That's eight three to three
Magi tax.
Speaker 2 (29:18):
And we're about to see tax risk and action because
in twenty twenty five, several provisions from the twenty seventeen
Trump tax cuts expire, and this includes the reduction and
individual income tax bracket rates. So in twenty twenty six,
many savers are going to find their tax bracket rates
higher than they are today, causing many of you to
pay more in taxes even while maintaining the same amount
(29:40):
of income. Is that what you really want? So get prepared,
you know, have a plan, sit down and you know,
for the younger people out there, one thing Chris mentioned
don't I don't want you to wait you sixty four
to figure outf you can retire. You could do it younger,
and that's when you start putting a plan together for
even younger people. Chris, you know you're young, You've got
a plan. But these the people listening to this show,
it's not for retired people. And if you have children
(30:03):
that are you know, trying to figure out this out
on their own. It's not gonna be easy. It's a
big puzzle. So have them give us a call eight
three to three Maggie Tax, and again visit our website
Maggie tax dot com. Attend one of our seminars. We
talk about social security, we talk about Willson Trust that
Chris mentioned, we talk about taxes, you know, and this
is what a lot of people are missing. So please
(30:25):
don't sit back and do nothing. Procrastination is not a
retirement plan, absolutely, and let's just leave it at this.
If you do not have a tax plan in your
retirement plan, then you are in trouble because it's going
to eat away at the investments that you have, it's
going to eat away at the future income that you have.
It's the biggest problem that most American people don't know
(30:47):
how to retire or can't retire because they have not
thought about the tax planning.
Speaker 3 (30:51):
So pick up the phone, schedule time to meet with us.
Tax planning, investment planning, income planning. We could do it
all to help you complete planning. Maggie Tax dot com
eight three to three Maggie Tax. That's eight three three
Magi Tax.
Speaker 1 (31:05):
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
(31:27):
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 (31:42):
Welcome back. My name is Robert Maggie and you're listening
to the Maggie Tax and Financial Show and I'm here
with my son, Chris Maggie. So let's go back to
a couple of things we talked about about the hidden tax.
So what would you do if you were presented with
a retirement plan that lost seven point five percent every year?
So if you're not diversified when it comes to the
tax status of your retirement accounts, that could be exactly
(32:04):
what you're doing. And many of you are financial advisors
are accustomed to building plans to protect against market losses.
And I challenge that too, because we've seen many clients
come in that they are losing money and nothing's been
done about it. Sometimes I wonder if they actually do
that on purpose. But a loss from tax policy change
can be just as impactful. A loss is a loss
(32:24):
regardless of what it caused. So it's time to add
tax risk to the checklist that you need to look at.
We talked about market risk, we talked about income risk,
and we're now talking about tax risk. And folks, if
your plan is just built on growth and you know,
getting money in the account, a big pile of money,
then what's the rest of the story, Chris, They don't
have anything in case the market goes down. We talked
(32:46):
about that, they don't have an income plan in case.
Then when they retire, what they do? And the big
thing now, when the Trump tax cuts expired, they don't
have a tax plan. What the hell is going on?
Speaker 3 (32:55):
Well, that's just it, and you'll think about this the
analogy I'll put it together for everyone listening today. I mean,
think about a football game, right, you know, you're all excited,
your favorite team, they're up at halftime, it's twenty to three.
Oh my gosh, the game's over, right, But guess what.
You know, you're accumulating, you're building up the score. But
guess what happens the second half of the game. Well,
Uncle Sam comes and guess what you lose by a
(33:17):
field goal. It's twenty three to twenty because Uncle Sam
comes back with the taxes. And that's what we're talking
about here. Yeah, market risk is real. We might mitigate
it through asset allocation. Yes, every advisor can do that.
You can do it yourself. It's it's pretty simple. What
about income risk, Well, that's really real because we might
mitigate it through the use of different types of products
(33:39):
that have guarantees, like annuities or safe annuities, whatever it
is to have guaranteed streams of income, create your own
family pension. But the tax risk, that is really real.
You know, we must mitigate this risk through the use
of tax free strategies. And how are you going about
doing that with your plan? With your investments? Where is
(34:00):
your tax free money? Because it's if you don't have
tax free money, it's going to cause less income in
the future. And when you showed you through the examples
we talked about today, that hidden tax risk number one.
Inflation can be number two, and just those two alone
can be over a ten percent decline in your accounts
every year. Because you have to account for this, it
(34:20):
means less income for you when you need it most.
So that's why it's so important to pick up the phone,
schedule a time to meet with us. Eight three to
three MAGI tax eight three to three MAGI tax.
Speaker 2 (34:30):
Now, one other thing we do seminars every month. We
do it on tax planning, we do it on social security,
and the big one we do on wills and trusts
because many of you a couple things we're talking about today,
don't have a will and don't have a trust, and
you don't have your beneficiary set up correctly in the accounts.
And that's the most important part. So when you come,
we're going to ask you the question, do you have
(34:50):
a will? And if you're listening right now and you
don't give my office a call, sit down with us.
Will show you exactly what you can do. It's very simple.
We work with a national group of attorneys so that
we can yet the will or the trust package done.
And another thing, a big important thing is most people
concerned about their home and what happens when you die.
Who's it going to go to? Well, do you have
a quit claim deed or a lady bird deed? And
(35:12):
many of you listening today are looking at me or
listening to me and going like, no, Well, that's why
you need to meet with us. Eight three to three
Maggie Tax. Visit my website Maggie Tax dot com. On
the top where it says seminars, it'll show you the
seminars that we're doing. They're held at a library. There's
no cost, there's no lunch, there's nothing that you have
to do but show up and watch the three and
one seminar that we do. And I'll say it this way,
(35:33):
because your advisor is not talking about social security. He's
not discussing tax planning with you or income planning like
Chris and I are discussing today. And you have to
come in and take a look at it from a
different lens because things are changing and legislative risk is
right here, meaning that congers can change the rules Chris
any single time they want, and they're going to change
it in two years. And you know what, people are
(35:55):
listening but they're not doing anything about it. And in
a year from now, people are going to go, oh
my god, am I going to do well? That may
be too late. So that's why we're challenging you. Pick
up the phone a three to three Maggie Tax. Visit
my website Maggie tax dot com. On the top right,
you'll see retirement tax bill. Click it, put the information in,
and in thirty seconds, I can tell you what your
retirement tax bill will be. And my goodness, Chris, if
(36:17):
that doesn't wake them up, I don't know what will.
Speaker 3 (36:19):
Well, that's it, you know, the tax the hidden tax impact.
That's what we're talking about today. And you're right. Most
people aren't thinking about this, but there are clients that
are doing something about it. But there needs to be more.
More people need to be aware of what's going to happen,
and most advisors don't care. It's pretty simple. Most advisors
have no no care for you paying high end taxes
(36:42):
because that's not how their firm is built. But at
our firm it is. We want you to go ahead
and pay least amount taxes possible, have more income in
a most tax efficient way, and have your investments grow
and accumulate based on the risk that you want. That's
what we do, and we wrap it up by doing
a state planning. We have all your accounts, make sure
that they in your family and not go through probate
and Uncle Sam. So when you sit down and you
(37:04):
start thinking about what you want in your retirement plan,
pick up the phone. Schedule time to need with this.
Let's just have a conversation. You know, visit our website
at Maggi tax dot com. My dad mentioned this click
on the top right hand corner of the retirement time bomb.
My gosh, the tax bill is huge. If you put
your IRA amount in there, or your TSP or your
qualified account, you'll see what the tax impact is going
(37:27):
to be and you might get very sick by seeing that.
And that's that today is low rates. What about when
they rise? And that's what we're talking about today. Tax risk,
legislative risk, income risk, market risks, social security maximization risk.
Pick up the phone, schedule time to meet with us.
A three to three Maggie Tax and don't forget.
Speaker 2 (37:46):
Every Sunday at ten thirty on ABC TV, tune into
the Maggie Tax and Financial Show. And then right after
that we're back on the radio. On nine seventy WFLA.
So we're giving you a lot of help. We're trying
to make you see it from a different lens because
there's so much going to be changing right now. Chris
mentioned the word legislative risk, and that's going to be
affecting everybody. I don't care if you're young, old, or
(38:07):
whatever in between. So give us a call eight three
to three, Maggie Tax. It's time to sit down and
put a plan together. Holistic plan that includes taxes, income, investments,
and more important wills and trust. If you don't have that,
give us a call eight three to three, Magie Tax.
Be sure to visit our website Maggie Tax dot com.
Tune in every Sunday ten thirty on ABC TV to
(38:29):
the Maggie Tax and Financial Show. So pick up the phone,
call us at eight three to three Maggie Tax, and
be sure to visit Maggie Tax dot com. That's eight
three three Maggie Tax.
Speaker 1 (38:40):
You've been listening to the Maggie Tax and 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 panelas County. Visit Maggie tax dot
com or call eight one three three two two twenty
five twenty. That's eight two one three three two two
(39:02):
twenty 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
and tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty, or visit Maggie
Tax dot Com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:52):
Welcome everyone, and thanks for joining us today. My name
is Robert Maggie and I'm here with Chris Maggie, and
be sure to visit our website, Maggie Tax dot Com.
Today we're going to talk about some topics, but register
for our seminars. It's a three and one. We'll talk
about that throughout today's show. And also go to the
retirement tax calculator so you could see what your retirement
tax bill is going to be. These are two important
(01:15):
spaces that you can go to to find out information
for free. And we're going to talk about our three
and one seminar today because it's going to help a
lot of people. Also visit our website Maggie tax dot com.
Be sure to watch our TV show every Sunday at
ten thirty am. It's about education and we have a
lot of topics to talk about today, so let's get going. Chris,
(01:36):
and you know, I'm excited about this because we put
a three and one seminar together. It's been very successful.
We talk about a state planning social security and taxes
and a lot of advisors out there aren't doing any
of that, and I can tell you from the results
that we've had, as you know, it's been very well received.
Well that's just it.
Speaker 3 (01:51):
So welcome everyone. I'm Chris Maggie and thanks for tuning
into our show. And you know, each and every week
we talk about education and if you're not working with
a complete planner. You're missing boat because most advisors out
there just deal with investments and really, you can invest
your own money. It's not that hard, really, but most
people don't complete the rest of the story. And there's
(02:12):
income planning, and there's tax planning, there's investment planning, there's
social security maximization planning, and then what we're talking about
today is a state planning. So what's a state planning?
And what documents do people need in Florida.
Speaker 2 (02:24):
And that's a big question because a lot of people
Chris bypass it. I believe sixty percent of the American
people don't even have a will. And that's said because
when you pass away, you want to make sure that
your assets are title correctly. We talk about this every
time about beneficiary designation and make sure it goes to
who you want. So when you go up to heaven
and you're looking down, what is your family picture going
(02:46):
to look like? Is it going to look like people
are fighting or people are just you know, relaxed and
got everything the way you want it? And that's important.
So what state planning documents do we need in Florida.
Let's talk about that. So a state planning or enhance
planning applies to all of you. And I'm not you know,
I don't care how old you are, but it applies
to all of you. So register today at Maggie tax
(03:07):
dot com, click on seminars and all the locations and
times are listed, and we do the seminar at libraries
because it's about education. And like Chris said, we educate
a lot of people throughout the week and throughout the
year and throughout our career because it's about learning the
language and understanding what to do. So a library is
a great place to learn. And another reason to attend
(03:28):
is what I give you all a free copy of
our first book that we wrote. Stop funding Uncle Sam's
retirement and get a plan that's simple and easy to understand.
And we call it the Maggie Plan. It's a tax plan,
it's an income plan, it's an investment plan, and more importantly, Chris,
it's a legacy plan. So there's a lot that we're
offering there, and it's very easy to attend, and it's
like ninety minutes, so why not show up?
Speaker 3 (03:49):
Absolutely, So visit our website at Maggie tax dot com.
There's so much information right there. So let's discuss what
documents are required in Florida. There are a handful of
things that need to be sorted out before you can
set things in stone to ensure that everything goes smoothly.
You want to avoid the probate process, and you don't
want to go through probate if you don't have to.
(04:10):
And most people they just don't know what they don't know,
and they just think that's just the process. But it
doesn't have to be that way. So as I talk about,
things have to go smoothly, but it can be a
lot for a single person to keep track of and
not everyone may understand the terminology that's involved. So that's
why you need to meet with the right advisor. That's
why Maguita's advisory is here to let you know what
(04:31):
documents are needed for a state planning and an explanation
of what they're for. So we work with a national
group of attorneys to get all the documents that you need.
Every situation is different, but the question is what is
a state planning? And here's a brief summary that once
you go into that and talk about what a state
planning is.
Speaker 2 (04:49):
Sure, and again a lot of people don't spend a
lot of time on this, but you know it's something
that you have to think about. So what is a
state planning? So a brief summary that make this easy.
Things can happen that they put us in a situation
where unable to communicate our intentions when it comes to
our assets or our own well being. So, whether it
be from a sudd disability and inability to speak freely
(05:11):
or the act of passing, there are a number of
reasons that could cause you to relinquish control of your
say in things that you want to have done, not
someone else. So a state planning prepares you for these
outcomes by setting your wishes in place should any of
these things occur. And Chris, not when someone sitting on
a hospital bed in a coma, or you know, dementia
(05:33):
sets in before that. That's what this is all about.
To take the time to sit down and do it.
And you'd be surprised how many clients have we met
that sat down and said, Wow, I didn't think it
was this easy, but I'm so glad I did it
now absolutely.
Speaker 3 (05:44):
I mean, we just met with a beneficiary of a
daughter who mom passed away just last week, and you
know we met with them two years ago. Do the
estate planning side of the whole complete plan and guess
what she came in. She had a death certificate, she
was the beneficiary with her brother, and guess what. Things
passed smoothly as can be and that can happen for
(06:05):
you as well. And estate planning or estate planning involves
a few types of documentation to ensure that the results
that you desire. Each of these papers covers your rights
in their corresponding fields and you can enjoy the peace
of mind by getting it all down in writing. That's
what it's about. But also you have to make sure
that things are notarized. Just keep in mind that it's
(06:26):
important to avoid common estate planning mistakes since you won't
be able to fix them after it's too late. So
such documents are your last will and testament. This is
often seen as one of the most important documents that
you can sign. Your last will and testament will make
sure that your assets go to the people that you
want them to go to. This can also be used
to designate specific people to be the guardian of your
(06:46):
mind and children. Without this document, there's no guarantee that
your wishes will be fulfilled after you pass registered for.
Speaker 2 (06:53):
At seven are we do a state planning segment on
that to help you. We have a nice marketing piece
that will give all of you to kind of fill
in the blanks. You know, who's going to get what,
How does it work for a husband and wife, the
whole thing. So register at our website, Maggie Tax dot com.
That's what we're talking about today. I invite all of you.
It's very simple. Go to Maggie tax dot com, look
for seminars and the dates are there for August and
(07:15):
it's free. There's no cost, there's no obligation. But the
bottom line is we have done this and I have
done many seminars in my career. It's about education. So
if you're coming to a seminar to get educated, we're
at the right place because it's at the library. Please
don't come to a seminar and expect to be sold something.
That's not the way it is Christen to me today.
The language and the education is so important for everyone
(07:38):
listening to today's show, Well that's it.
Speaker 3 (07:39):
So that's why we do complete planning. We call it
the Maggie Plan. It's a tax plan and it's an
investment plan, it's an income plan. It's state planning. You know,
it's legacy planning, it's so security maximization planning. And we're
talking about today in this topic here at State Planning,
and you know we do complete planning, so we can
help you in a lot of different ways. Let's discuss
what a living trust is.
Speaker 2 (07:59):
Sure on this. This is one of the questions we
get all the time. So how can you make sure
that your positions are going to be distributed how you wish?
That's the most important thing. And you can personally choose
someone that you know to be the trustee to handle
all of your assets for you after you pass, to
give you greater peace of mind. It says like speak
from the grave. So you are also able to change
(08:20):
your designation to designate a trustee as many times as
you'd like, for as long as you are alive. And
here's the question. As you put a trust together, you
have a trustee, but you can change them. You have
full control, right, you can buy, sell, you can still
manage the whole trust. But it's more protection for you
because you're doing it.
Speaker 3 (08:39):
And what's really important is that a trust avoid it's
probate and also it's private, so God forbid you passed away.
Something happens to you people out there, it doesn't have
to go through the probate process. It's not public data.
It's private, so no one's going to know what you
have and what your wishes are. So that's why it's important.
These are some of the documents that we're talking about
when you talk about state planning and enhance planning. So
(09:02):
pick up the phone, schedule time to meet with us.
If you don't have a will, you're looking for questions
about a trust or state planning, we have the attorneys
here to help you. Eight three to three magi tax.
That's eight three to three Maggie tax. So what are
other documents that are part of the estate planning process.
Speaker 2 (09:17):
Another document is a power of attorney. So if you
are ever in a situation where you are unable to
make important decisions yourself concerning your property, financial matters, and
other assets, a power of attorney can make those decisions
on your behalf. So you would want someone that you
could absolutely trust to handle such important matters. And this
(09:38):
document will establish who will be your power of attorney
should you ever need one. And Chris, this is the
documents that the people missing that we see all the time.
Speaker 3 (09:46):
That's right. So let's talk about healthcare directives. So setting
up your healthcare directives is almost like having a power
of attorney, but for medical concerns. You can state what
types of treatment you do and do not want, what
surgeries you approve of, whether or not you would like
to do it at your organs, and so on. So
since these concerns are something that's very personal to you
and it's your own body, it's very important to have
(10:07):
such matters clearly written. So reach out to us at
Maggi Tax Advisory and Financial Group. We can help you.
We can help and help you in a lot of
different ways. We can preserve your family harmony and protect
your legacy. That's what it's about. So we have a
question for all of you. How often do you play
the estate game in your lifetime? How do you know
how well you did? You're never gonna know until you
(10:29):
actually get it done. So that's why it's important to
meet with us. Pick up the phone and schedule time
to meet with us eight three to three MAGI tas.
Speaker 2 (10:37):
Be sure to register for US seminars. Go to Maggie
Tax dot com right now hit seminars. You'll see the
seminars coming up in August and every month after that.
So it's up to you get educated. We're trying to
help everyone out there. Eight three to three Maggie Tax
and don't forget Every Sunday of ten thirty, what's your
TV show on ABC, The Magi Tax on Financial Ship.
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
Maggi Tax dot com or call eight one three three
(11:19):
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, and
we welcome everyone today and thank you so much for listening.
Do you have an action plan to remove the irs
from your retirement picture? That's a great question. We have
that plan and you should too if you just work
with the right advisor. And I tell you why, because
taxes will increase Your retirement is about taxes. Taxes are
(11:58):
our biggest expense. We have proven strategies to dampen Uncle
Sam's impact on your retirement. If you want to take
the irs wildcard out of the deck, then we can
help pick up the phone and schedule time to meet
with us. Eight three to three Maggie Tax.
Speaker 2 (12:13):
And we have many proven strategies that have proven indispensable
in getting our clients to a zero tax bracket. But
it becomes understanding the language and it's well worth the
time to meet with us. We want to make it
simple and easy for you to understand, and the principles
and tax strategies that we use have empowered meet to
sound the alarm and rescue many of our clients' financial
(12:35):
future and security from the looming threat of higher taxes.
We talk about this all the time. The retirement tax calculator.
Why because you're going to pay a lot in taxes,
so we can help you. Give us a call eight
three to three Maggie Tax and we could put the
Maggie plant together for you. Chris, and you know that's
what people are looking for.
Speaker 3 (12:54):
Help absolutely, and that's it. You know, help why because
you don't know what you don't know? And that's okay.
You know, we do this every day. We retire every
day you retire once. Think about that for a minute.
You know, we do this every day. You need some
help and we can help you. So pick up the phone,
schedule time to meet with us eight three to three
mag attacks And our passion is for designing solutions for
our clients. It's unparalleled in the industry, and that's why
(13:18):
we're different. You know, we have a niche where we
help people have tax free retirement accounts and tax free income.
We provide specific strategies and iris approves solutions and why
it is so important to reduce your income taxes and
look forward to a future of a zero tax bracket.
Speaker 2 (13:36):
You know, we have.
Speaker 3 (13:37):
Clients that are receiving one hundred thousand dollars a year
in income and our pan of diamond tax why because
they develop these plans. We put together these plans for
them and guess what, they're reaping the awards right now
because now they don't have to worry. They eliminated Uncle
Sam forever, you know.
Speaker 2 (13:52):
And the thing here that we're trying to make you
understand is that we understand taxes. We understand the tax codes.
They are there in the have been there for years,
but maybe your tax preparer is not using it. You know,
us taxes are poised to rise dramatically. Think about it
in twenty twenty six. It's gonna the Trump tax cuts
are gonna expire, and the math is very clear and
(14:14):
very simple. We have the most up to date strategies
for anyone listening to our show wanting to retire, because
that's the biggest question we get, Chris, can I retire?
And when we sit down and show you you can,
you're probably in a better situation that you can retire,
only because you don't know. Like Chris said, what you
don't know and that happens a lot, Chris.
Speaker 3 (14:34):
Right, absolutely, And that's why it's so important to sit
down and have a conversation. Why because you don't know
what you don't know? And if we can educate you
and we can show you that this is what you're
doing now and this is what you can do, would
you want to know? And the answer is absolutely so.
All you gotta do is pick up the phone and
schedule time to meet with us. We have obviously on
both sides of the bay. And when you come in
to meet with us, we're gonna have a conversation. You know,
(14:56):
we're gonna learn more about you. We're gonna look at
your situation, taxes, your accounts, figure out what your strategy is.
Do you have an income plan? Do you have a
tax plan? Do you have an investment plan? Do you
have an estate plan? Do you have a Social Security
maximization plan? What about a Medicare plan? These are questions
that many retirees are answering in each and every day,
(15:16):
and they just don't get the answer because they don't
know where to go. Well, it's very simple eight three
to three, Maggie tax.
Speaker 2 (15:21):
So think about it. Without these techniques that we're offering,
you are at the mercy of circumstances beyond your control.
What do I mean by that called legislative risk. Legislative
risk means the Congress can change the rules anytime it's
written in pencil, and every year we see this. So
things are changing right now. So like it or not,
taxes are likely to rise, and now is the time
(15:44):
to reposition your assets now to avoid higher taxes in
the future. Now is the time, Chris. How hard do
we have to say that to people? Because it's getting
closer and closer to the Trump tax cuts expiring, and
people that are listening to the show may not even
be aware of it.
Speaker 3 (16:01):
But things are going to change, we last I said,
and you know, visit our website at Maggie tax dot com.
There's so much information right there at your fingertips to
help you. And that's why we're here. If you're serious
about maximizing your income and retirement, we use strategies to
help our clients become as tax efficient as possible. It's
not just about what accounts do you have, and you
know we can do this and that, and we can
(16:23):
increase it and we can have this strategy. It's not
about that. It's about taxes. It's about the whole picture.
It's about complete planning. Yeah, you have a CD at
three or four or five percent whatever, but what are
you doing with that? How are you maximizing on the
tax side of it. That's what we're talking about here.
We can guide you through the coming tax crisis by
helping you take advantage of the power of a zero
(16:46):
percent tax bracket. Who wants to get there, We can
show you how to do it by using the strategies
that we develop a three three Maggie tax and.
Speaker 2 (16:55):
Again we do advanced tax planning. We understand taxes. When
you come in, we'll sit down with you, we'll go
over your tax return line by line. Because if you're
looking for a roadmap to shield your hard earned assets
from the impact of taxes, we can help. I say
that every week by talking to you about the strategies
that we use have transformed retirement and protected them from
(17:18):
tax train wreck that is just around the corner. Think
about it, a tax train wreck. That's what's coming, Chris, and.
Speaker 3 (17:25):
It doesn't have to be for you. And you can
get out of the way of that. And that's why
there are clients that are going to pay a lot
in taxes. And then those clients who eliminated Uncle Sam
forever and ever now so don't have to worry about
that in the future. Many of our clients are well
prepared for retirement. With just a little bit of proactive planning,
you can insulate yourself from the threat of higher taxes
(17:46):
by creating a total tax free retirement plan and how
do you go about doing that? Well, the first step
is schedule time to meet with us. We have officers
on both sides of the Bay, and every Sunday we
have our TV show, Maggie Tax Financial Group, and guess
what we know to talk about taxes and tax planning
and social security planning and income planning and tax planning
(18:07):
and investment planning. That's called the Maggie Plan. That's the
holistic approach that we take. But we take it from
a tax angle. Why because that's your biggest expense and
it will always be unless you eliminate Uncle Sam. So
how do you go about doing that? We can help
pick up the phone and schedule time to meet with us.
Eight three to three Maggie Tax.
Speaker 2 (18:24):
It's called the Maggie Plan, simple and easy to understand.
It's a tax plan, it's an income plan, it's an
investment plan. It's legacy planning. And many of you don't
have that, So give us a call eight three to
three Maggie Tax. Be sure to visit our website, Maggie
Tax dot com. We have a lot of information on
that site, and be sure to click on the retirement
calculator and in thirty seconds we can show you what
(18:45):
your retirement bill will be. We have offices in Loots,
we have an office in Palm Harbor, and we have
an office in Saint Pete. Very easy for all of
you to get to visit our website Maggie Tax dot
com and give us a call eight three to three
Maggie Tax. That's Maggie Tex.
Speaker 1 (19:01):
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
(19:23):
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 in Financial Group, Robert and Chris Maggie.
Speaker 2 (19:38):
Welcome back and you're listening to the Maggie Tax and
Financial Show. My name is Robert Maggie and I'm here
with Chris Maggie. Today we're talking about taxes and some
strategies and concepts that you could use. The biggest thing
is make an appointment. Sit down with us. Give us
a call eight three to three, Maggie Tax. Let's discuss
your situation, answer the questions you have, because I know
a lot of people are confused. So I want to
(19:58):
go back to a couple things we talked about. But
here's an example of what we're trying to help you with.
And let's just say that you're sixty three years old,
you have a two hundred thousand dollars IRA, and you
may want to convert it. So let's also say that
you have a twenty five percent tax liability and your
account grows at five percent per year. And you can
really put any numbers in here, but I just want
(20:19):
to use this for illustration. So here's the total amount
of taxes that you could potentially pay from that two
hundred thousand dollars from today through age ninety. So if
you keep the qualified account, the total taxes that you're
going to pay on the RMDS is going to be
about seventy three thousand, nine hundred and forty three dollars.
And then you've got to pay tax on the reinvested rmds,
(20:40):
which a lot of people don't think about about thirty thousand,
and the tax is paid on the remaining account when
you pass away of forty seven thousand dollars. So the
total taxes paid is one hundred and fifty two thousand
on that two hundred thousand dollars IRA. Why are we
breaking this down because this is what you don't see
when you start taking money out of your ra. Now,
(21:01):
if you converted that irate to a tax re option,
you would pay taxes on the conversion of fifty thousand,
and that's it. You don't pay any more taxes. Is
that shocking because a lot of people see Chris and
they go, wow, how can that be? Because you're taking
off one thing? You say, you're ripping off the band aid.
Speaker 3 (21:18):
That's it. So can you rip off the band aid?
Should you rip off the band Aid? The answer is yes,
and depends on your situation. Right. So that's why it's
so important to meet with us, because what this client
did was they went ahead and said, I don't want
to be in an area or an environment that's infected
with taxes. I want to be in an environment that's
totally income tax free where he can breed the clean,
(21:38):
fresh air of tax free income. And that's what he
was looking for. So what are you looking for? That's
the question that we are going to ask you. So
when you come to meet with us, we're going to
ask these questions. We're going to show you what the
tax liability is going to be, and we can do
some some strategies. We could do a lump sum, we
could do a strategic rollout, we can do it over time.
Whatever we got to do to see if we can
(22:00):
help you benefit you. And so you now you have
tax free money. That's what it's about. So when taxes increase,
guess what. If you have tax free money, you don't
have to worry about it. So why not put yourself
there if you can, and we can show you how
eight three to three Magi Tax. Pick up the phone,
schedule time to meet with us. We have office on
both sides of the day to help you. Eight three
(22:22):
three Maggie Tax.
Speaker 2 (22:23):
Now, when you come in, we can show you this
illustration because I know it's hard to see on the radio,
but keeping your IRA in that situation's going to cost
you an extra one hundred and two thousand and taxes.
And if you spent the R and ds rather than
reinvesting them, it's still going to cost you an extra
seventy two thousand to keep the IRA. That's just the
way it is. I mean, there's nothing we can tell
you that's going to be different. It's real. So when
(22:44):
you run it from a tax standpoint, this is what
you folks need to see. And by the way, we
can run this tax analysis for all of you when
you come in, and it's part of what we do
every day at Maggie Tax. And here's a better option.
Now that you know the truth about tax deferral, let
me give you a better option. And here at Maggie Tax,
we believe the most powerful tax free option. This is
(23:04):
another one that a lot of people don't discuss. It
may be good for some, it may not be good.
Is Index Universal Life. And some of you might qualify
and some may not. And that's why we have to
meet and see if this is an option. So by
converting some of your tax deferred assets into tax free
Index Universal Life, you could save hundreds of thousands of
dollars in taxes. We've helped a lot of people do that.
(23:27):
You can increase your income in retirement tax free and
you can reduce the risk and volatility in your retirement portfolio.
So if you want to learn more about that, call
my office right now eight three to three Maggie Tax
or visit Maggie tax dot com and set an appointment
today and let's schedule the time to talk about this,
and let's talk about tax risk and legislative risk and
(23:48):
what the heck is the difference. As things stay hot
in Washington, I'm getting asked this question more and more.
Both are risk that can dramatically impact all of you,
and both our risks chris that most savers are underprepared
to address. And that's confusing because they're not educated on this.
It's the language that they don't understand. Well, that's just said.
Speaker 3 (24:08):
I mean everyone thinks they have to go through those risks.
You know, if the mark goes down, they think, well,
everyone's gonna lose money.
Speaker 2 (24:13):
Well, no, it doesn't happen that way.
Speaker 3 (24:15):
They think, well, everyone's going to pay taxes. No, not,
everyone's going to pay taxes. And if you do the
right strategies, you can control your retirement. You can control
the amount that you earn, you can control the volatility,
you can control the tax side of this. You can
even control how it transfers to who you want it
to go to. These are things that we do each
and every day. Do you have these plans? If not,
(24:37):
why not. That's what we can help you with. So
we have office on both sides of the bay to
help you. But my dad is talking about a lot
of different things here. When it comes down to your
retirement and income. Your retirement assets are going to be
affected by the taxes. Your current income and your future
income are going to be affected by the taxes because
as they raise the tax brackets, guess what less income
(24:59):
to you, and then you and then you put inflation
on top of this, then it gets even worse. So
what are you doing about it? And that's why it's
so important to get a review. Pick up the phone,
schedule time to meet with us. Let's get together. Let's
have a conversation. When you come in, we're want to
look at your tax return, we look at your investments,
and we look at your income plan. And if you
don't have an income plan, we'll show you how to
get one. We'll do it for you. Eight three to
(25:20):
three MAGI tax.
Speaker 2 (25:21):
So tax risk is the risk that a person's taxes,
they're going to be higher in retirement then what you
plan for, and this means more of a retires income
is going to be we'll go to the I R
s as taxes, which means less income to you. So
you have to do something about this. And that's that's
a great point there, and Chris, they don't see this
more to I RS and less to you because if
(25:42):
you a big question we ask everybody when they come in,
how much income do you need every month to come
in the front door to pay your bills, to live
and do what you want without worrying? And that's a
you know, that's a question, Chris. The people can't answer.
They don't know the answer to. And it's confusing because
that's the groundwork that you and I start with, so
we could see what's going to happen when.
Speaker 3 (26:02):
It comes to taxes exactly we're talking about net. You know,
we can gross up the rest or if we have strategies.
We don't have the takeout taxes because we don't have
to pay them. So that's why it's so important to
make sure that you know how much you need per month,
especially approaching retirement. What is the amount you need for
the next thirty days to spend. I'm not talking about
put it going on a vacation or I'm not talking
(26:23):
about going on a cruise or to go on a trip.
Those things we can plan for. I'm talking about day
to day or month to month activities that you need
to cover to make sure that you have income coming in.
So these are things we can help you with. It's
called budget planning. Schedule time to meet with us. We
can help you eight three to three Maggie.
Speaker 2 (26:40):
Tax there's another word to use, budget planning. A lot
of people out there listening today don't even know about
a budget, don't have a budget. Well, folks, it's real
important when you sit down and look at what you're
spending and what you owe. You know what's coming in
the front door, how does that balance out. So from
a standpoint that Chris and I do, we do a
balance sheet on every client to see where your assets are,
which ones you're using for you know, income, which one
(27:02):
you're using for taxes, because that's part of the plan.
It's a tax planet, it's an income planet, it's an
investment plan, and it's a legacy plan. So folks, if
you're missing that you know, I encourage you to call
right now eight three to three Maggie tax pick up
the phone, make an appointment. Let's see we can help
you out because in short, tax risk measures the level
of taxation that you're going to experience in retirement. Now,
(27:25):
I know you're saying, well, I'm not retiring yet, but
that's okay because you want to plan for it, so
don't put that off until the year before you retire.
How many people Chris call us and say can I retire?
And we ask him when do you want to retire?
And in many cases they can retire but don't even
know they can. Well, let's just say it.
Speaker 3 (27:41):
So it's a great feeling when you can tell someone yes,
you could retire and they look at you like, well,
where am I going to get the income from? And
we can show them because we can put together buckets
of money where it has income producing account growing for
long term to combat the inflation as well and all
the best thing is that it avoids probat and stays
within the family, so you can leverage your money. You
(28:01):
can maximize your soil security benefits, you can have spousal benefits.
These are things that we talk about each and every
week because you need to know. You know, we got
a client that came in last week and we put
together a plan and they sat back and they said,
my gosh, I am sixty four years old and no
one's ever ever told me how to go about doing this.
And she was disappointed with her past. And she said,
(28:24):
I wish I would have found you ten years ago
because I would have been even in better shape. Because
now she has clarity, she's educated, she knows exactly what
she can do and what each account's going to do.
And she said, oh my gosh, I'm retiring on Monday.
I can't wait to come in. I see you again
the next couple of weeks, and then we can put
together and implement the plan to make sure it happens.
And that's what we're talking about today. If you don't
(28:47):
have a plan, why not we call it the Maggie plan.
What's the Maggie plant's tax planning, income planning, investment planning,
solid security, maximization planning. What about estate planning? If you
don't have a will or have attorney or maybe a
living trust is right for you, maybe it's not. But
these documents are important. They're crucial. Do you have beneficiary forms?
(29:08):
Do you have your account set up? If not, why
not pick up the phone schedule a time that maybe less.
Speaker 2 (29:13):
We can help you.
Speaker 3 (29:14):
Eight three three Maggie tax. That's eight three to three
Magi tax.
Speaker 2 (29:18):
And we're about to see tax risk and action because
in twenty twenty five, several provisions from the twenty seventeen
Trump tax cuts expire, and this includes the reduction and
individual income tax bracket rates. So in twenty twenty six,
many savers are going to find their tax bracket rates
higher than they are today, causing many of you to
pay more in taxes even while maintaining the same amount
(29:40):
of income. Is that what you really want? So get prepared,
you know, have a plan, sit down and you know,
for the younger people out there, one thing Chris mentioned
don't I don't want you to wait you sixty four
to figure outf you can retire. You could do it younger,
and that's when you start putting a plan together for
even younger people. Chris, you know you're young, You've got
a plan. But these the people listening to this show,
it's not for retired people. And if you have children
(30:03):
that are you know, trying to figure out this out
on their own. It's not gonna be easy. It's a
big puzzle. So have them give us a call eight
three to three Maggie Tax, and again visit our website
Maggie tax dot com. Attend one of our seminars. We
talk about social security, we talk about Willson Trust that
Chris mentioned, we talk about taxes, you know, and this
is what a lot of people are missing. So please
(30:25):
don't sit back and do nothing. Procrastination is not a
retirement plan, absolutely, and let's just leave it at this.
If you do not have a tax plan in your
retirement plan, then you are in trouble because it's going
to eat away at the investments that you have, it's
going to eat away at the future income that you have.
It's the biggest problem that most American people don't know
(30:47):
how to retire or can't retire because they have not
thought about the tax planning.
Speaker 3 (30:51):
So pick up the phone, schedule time to meet with us.
Tax planning, investment planning, income planning. We could do it
all to help you complete planning. Maggie Tax dot com
eight three to three Maggie Tax. That's eight three three
Magi Tax.
Speaker 1 (31:05):
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
(31:27):
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 (31:42):
Welcome back. My name is Robert Maggie and you're listening
to the Maggie Tax and Financial Show and I'm here
with my son, Chris Maggie. So let's go back to
a couple of things we talked about about the hidden tax.
So what would you do if you were presented with
a retirement plan that lost seven point five percent every year?
So if you're not diversified when it comes to the
tax status of your retirement accounts, that could be exactly
(32:04):
what you're doing. And many of you are financial advisors
are accustomed to building plans to protect against market losses.
And I challenge that too, because we've seen many clients
come in that they are losing money and nothing's been
done about it. Sometimes I wonder if they actually do
that on purpose. But a loss from tax policy change
can be just as impactful. A loss is a loss
(32:24):
regardless of what it caused. So it's time to add
tax risk to the checklist that you need to look at.
We talked about market risk, we talked about income risk,
and we're now talking about tax risk. And folks, if
your plan is just built on growth and you know,
getting money in the account, a big pile of money,
then what's the rest of the story, Chris, They don't
have anything in case the market goes down. We talked
(32:46):
about that, they don't have an income plan in case.
Then when they retire, what they do? And the big
thing now, when the Trump tax cuts expired, they don't
have a tax plan. What the hell is going on?
Speaker 3 (32:55):
Well, that's just it, and you'll think about this the
analogy I'll put it together for everyone listening today. I mean,
think about a football game, right, you know, you're all excited,
your favorite team, they're up at halftime, it's twenty to three.
Oh my gosh, the game's over, right, But guess what.
You know, you're accumulating, you're building up the score. But
guess what happens the second half of the game. Well,
Uncle Sam comes and guess what you lose by a
(33:17):
field goal. It's twenty three to twenty because Uncle Sam
comes back with the taxes. And that's what we're talking
about here. Yeah, market risk is real. We might mitigate
it through asset allocation. Yes, every advisor can do that.
You can do it yourself. It's it's pretty simple. What
about income risk, Well, that's really real because we might
mitigate it through the use of different types of products
(33:39):
that have guarantees, like annuities or safe annuities, whatever it
is to have guaranteed streams of income, create your own
family pension. But the tax risk, that is really real.
You know, we must mitigate this risk through the use
of tax free strategies. And how are you going about
doing that with your plan? With your investments? Where is
(34:00):
your tax free money? Because it's if you don't have
tax free money, it's going to cause less income in
the future. And when you showed you through the examples
we talked about today, that hidden tax risk number one.
Inflation can be number two, and just those two alone
can be over a ten percent decline in your accounts
every year. Because you have to account for this, it
(34:20):
means less income for you when you need it most.
So that's why it's so important to pick up the phone,
schedule a time to meet with us. Eight three to
three MAGI tax eight three to three MAGI tax.
Speaker 2 (34:30):
Now, one other thing we do seminars every month. We
do it on tax planning, we do it on social security,
and the big one we do on wills and trusts
because many of you a couple things we're talking about today,
don't have a will and don't have a trust, and
you don't have your beneficiary set up correctly in the accounts.
And that's the most important part. So when you come,
we're going to ask you the question, do you have
(34:50):
a will? And if you're listening right now and you
don't give my office a call, sit down with us.
Will show you exactly what you can do. It's very simple.
We work with a national group of attorneys so that
we can yet the will or the trust package done.
And another thing, a big important thing is most people
concerned about their home and what happens when you die.
Who's it going to go to? Well, do you have
a quit claim deed or a lady bird deed? And
(35:12):
many of you listening today are looking at me or
listening to me and going like, no, Well, that's why
you need to meet with us. Eight three to three
Maggie Tax. Visit my website Maggie Tax dot com. On
the top where it says seminars, it'll show you the
seminars that we're doing. They're held at a library. There's
no cost, there's no lunch, there's nothing that you have
to do but show up and watch the three and
one seminar that we do. And I'll say it this way,
(35:33):
because your advisor is not talking about social security. He's
not discussing tax planning with you or income planning like
Chris and I are discussing today. And you have to
come in and take a look at it from a
different lens because things are changing and legislative risk is
right here, meaning that congers can change the rules Chris
any single time they want, and they're going to change
it in two years. And you know what, people are
(35:55):
listening but they're not doing anything about it. And in
a year from now, people are going to go, oh
my god, am I going to do well? That may
be too late. So that's why we're challenging you. Pick
up the phone a three to three Maggie Tax. Visit
my website Maggie tax dot com. On the top right,
you'll see retirement tax bill. Click it, put the information in,
and in thirty seconds, I can tell you what your
retirement tax bill will be. And my goodness, Chris, if
(36:17):
that doesn't wake them up, I don't know what will.
Speaker 3 (36:19):
Well, that's it, you know, the tax the hidden tax impact.
That's what we're talking about today. And you're right. Most
people aren't thinking about this, but there are clients that
are doing something about it. But there needs to be more.
More people need to be aware of what's going to happen,
and most advisors don't care. It's pretty simple. Most advisors
have no no care for you paying high end taxes
(36:42):
because that's not how their firm is built. But at
our firm it is. We want you to go ahead
and pay least amount taxes possible, have more income in
a most tax efficient way, and have your investments grow
and accumulate based on the risk that you want. That's
what we do, and we wrap it up by doing
a state planning. We have all your accounts, make sure
that they in your family and not go through probate
and Uncle Sam. So when you sit down and you
(37:04):
start thinking about what you want in your retirement plan,
pick up the phone. Schedule time to need with this.
Let's just have a conversation. You know, visit our website
at Maggi tax dot com. My dad mentioned this click
on the top right hand corner of the retirement time bomb.
My gosh, the tax bill is huge. If you put
your IRA amount in there, or your TSP or your
qualified account, you'll see what the tax impact is going
(37:27):
to be and you might get very sick by seeing that.
And that's that today is low rates. What about when
they rise? And that's what we're talking about today. Tax risk,
legislative risk, income risk, market risks, social security maximization risk.
Pick up the phone, schedule time to meet with us.
A three to three Maggie Tax and don't forget.
Speaker 2 (37:46):
Every Sunday at ten thirty on ABC TV, tune into
the Maggie Tax and Financial Show. And then right after
that we're back on the radio. On nine seventy WFLA.
So we're giving you a lot of help. We're trying
to make you see it from a different lens because
there's so much going to be changing right now. Chris
mentioned the word legislative risk, and that's going to be
affecting everybody. I don't care if you're young, old, or
(38:07):
whatever in between. So give us a call eight three
to three, Maggie Tax. It's time to sit down and
put a plan together. Holistic plan that includes taxes, income, investments,
and more important wills and trust. If you don't have that,
give us a call eight three to three, Magie Tax.
Be sure to visit our website Maggie Tax dot com.
Tune in every Sunday ten thirty on ABC TV to
(38:29):
the Maggie Tax and Financial Show. So pick up the phone,
call us at eight three to three Maggie Tax, and
be sure to visit Maggie Tax dot com. That's eight
three three Maggie Tax.
Speaker 1 (38:40):
You've been listening to the Maggie Tax and 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 panelas County. Visit Maggie tax dot
com or call eight one three three two two twenty
five twenty. That's eight two one three three two two
(39:02):
twenty five twenty and tune in next Saturday at five
for the Maggie Tax and Financial Hour
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