Episode Transcript
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Speaker 1 (00:00):
All these years you've saved up planning for a secure retirement,
but if you're not careful, it will be the irs
that's living it up when you retire by taxing your
hard earned money. Welcome to the Maggie Tax and Financial
Hour with Robert and Chris Maggie of Maggie Tax Advisory
and Financial Group. With over thirty years of combined experience
in tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty, or visit Maggie
Tax dot com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:53):
Welcome everyone, and thanks for joining us today. My name
is Robert Maggie and I'm here with Chris Maggie. You
should have visited our website, Maggie Tax dot com and
also give us a call at eight three to three
Maggie Tax. If you want to schedule an apployment operators
were standing by right now. So we're going to talk
about a lot of things today, about why you should
roll over your retirement funds to an IRA, people are
confused on what they should be doing, on tips on
(01:15):
how to create a plan with your partner, but more importantly,
visit our website Maggie Tax dot com. We have a
lot of videos there on all the topics that we're
going to discuss, and be sure to register for our
seminar three and one seminar on estate planning, tax planning
and social security planning. Again, give us a call eight
three to three Maggie Tax and visit our website at
Maggie tax dot.
Speaker 3 (01:36):
Com and welcome everyone. I'm Chris Maggie. Thank you so
much for tuning into our show. And as my dad
mentioned before, education is extremely important. That's why we do
the three in one seminar. Visit our website Maggie Tax
dot com. You go register right there. We're talking about
tax planning, social security planning. That's what it's all about,
is state planning. My gosh, there's so much to discuss
investment planning so much to talk about and educate your
(02:00):
self about because things are changing and you want to
be equipped with everything in the right spot before things happen.
Speaker 2 (02:06):
So welcome to our show.
Speaker 3 (02:08):
If you're like most American workers, you know you might
have changed jobs many times during your lifetime, and with
job changes, you're gonna have to make decisions. They have
to be made. What should you do with the funds
and your retirement plan? That's a lot of questions we get.
We get that each and every week when we when
we sit down and talk to people because they say,
what should I do with my old form one K? Well,
(02:30):
one option is to do a rollover to an IRA,
and an IRA is an individual retirement account. It's a
qualified plan just like a four and one K, and
you can roll over those funds to an IRA and
then offer some big benefits. Let's talk about those.
Speaker 2 (02:45):
Yeah, and the point where the objective there is to
grow your retirement savings. So think about this. When you
contributed to your employer's plan, you made the smart decision
to save for retirement. We have to save and we
do it in a qualified plan that gives you a
tax deduction. Rolling those funds over to an IRA will
allow you to preserve those dollars for retirement and even
(03:05):
add them in the future. So you could keep your
funds in an IRA and make IRA contributions and get
that advantage, or you could move the funds over to
future employers plan. Like Chris mentioned, sometimes you change jobs,
so you want to move that plan from one to
the other to avoid the tax hit. But either way,
your retirement savings will remain intact and potentially grow. And
(03:27):
that's the point you want to make.
Speaker 3 (03:28):
That's is exactly right. You want to grow those retirement savings.
And the other benefit is there's no tax hit. May
be tempting to hold on to any funds distributed to
you from your employer plan. If you do, there will
likely be a tax bill. So most retirement plan funds
are taxable when they are distributed, So that's why you
want to make sure that you handle these accounts with care.
(03:51):
And even worse, if you're under age fifty nine and
a half, you maybe hit with a ten percent early
distribution penalty unless there's an exception to be made, which
there are a couple of those if you know the
tax rules. So right now, it's important to understand what
you can and can't do. And the penalty doesn't apply
if you take out your funds following separation from service
(04:11):
in the year that you turn age fifty five or older,
or fifty or older if your public safety employees. So
make sure you understand the rules. Make sure you understand
when you touch these funds, these qualified accounts like four
one ks or iras or four h three b's or
four fifty seven plans, you handle them with care because
if not, they could be a tax bill that's going
(04:33):
to be created and you have to pay more tax
or even a penalty.
Speaker 2 (04:36):
So let's talk about the tax bill. On my website,
Maggie tax dot com. You gheit on the top right,
you'll see retirement tax Bill. Everyone can go there right
now and fill in your information on what the value
of your four one K or your IRA is and
in thirty seconds, it's going to tell you what your
tax bill is going to look like when you retire
at seventy two or what the R and D is
going to be when you get to that age. Because
(04:57):
people today do not understand that with clients every day
and they do not understand the RMD and when they
have to take it out. This is important, So go
to our website maggietax dot com, click on the retirement
bill and put in your numbers, and in thirty seconds
it's going to give you the results. Because then what
you should do is sit down and like Chris and
I are talking about, understand the language and understand the rules,
(05:19):
because so many people Chris get confused and they make
the wrong choice and the guess what tax time comes
and we find that out.
Speaker 3 (05:26):
That's it. So we talked about how there's no taxable
hit if you roll over these funds. But also a
benefit is the investment options. Changing jobs can be stressful
and overwhelming, as we all know, maybe tempting to just
ignore your retirement savings and leave them in your former
employer's plan and just let it sit there. Right, how
many people have done that. But by taking this path
(05:46):
of least resistance, you may be missing out. And we
talk about that because your employer plan may offer some
solid investment choices, but maybe not enough. Inside those plans,
you might have five investment options to choose from, or
ten or even fifteen, and that's it. So by rolling
over to an IRA, you could take advantage of many,
many more options. You can start doing bucket planning. You
(06:08):
can set up an account for a future guaranteed income sources,
maybe like your own family pension plan. Maybe we'd like
to generate another bucket of inflation protection risk or in options.
So there's a lot of options you can take if
you go ahead and think about and sit down with
the right advisors to talk about how to roll over
(06:29):
these funds. And the choices for IRA investments are almost
limitless in an IRA, and you should be able to
find that some mostly closely are suited for your needs.
And that's what it's about, putting together a plan for
you and developing a plan. That's why we call it
the Maggie Plan.
Speaker 2 (06:43):
Well, in staying with that, on the investment side, many
people are confused because they only think they can do
mutual funds or stocks or bonds. But in the managed
accounts that you work with, can you talk about a
few of the options, like the managed portfolios that you
can get the gains and not the loss and even
when the market goes down, you can make money. So
is that something that they if you're listening and you
don't have that, listen to what Chris has to say no,
(07:05):
that's great.
Speaker 3 (07:06):
And at Maggie Investment Services we're registered investment advisory firms.
So there's different managed actively managed portfolios. There's some out
there that have a buffer index strategy where you can
make money when the market goes up, but if the
mark goes down, they call it a buffer where you
could not lose money. If the market goes down, or
if the buffer is twenty percent and the market goes
(07:26):
down eighteen you don't lose nothing. It's a zero percent loss,
but if it passes twenty percent, then you lose the difference.
So if it goes down twenty two percent, you might
lose two. But the bottom line here is that you
can be invested in the market and have downside protection
and there's ways to do that in multiple investments. So
it's important to meet with the right advisor. So let's
(07:47):
sit down have a conversation about what your goals are.
Do you want risk, do you want safety? Do you
want a combination of both. Do you want to carve
out a bucket of inflation protection assets. Do you want
to carve out a bucket for future of paychecks and
play checks? Do you want to carve out a bucket
where you take a lot of risk or dividend producing options.
(08:07):
This is what we're talking about here. So by carefully
sitting down and looking at your investment options, and that's
why we created the Maggie Plan is so dynamic and
informative to you because now's the time to generate a plan,
and that's why we call it the Maggi Plan.
Speaker 2 (08:22):
And one other point that is very important during today's
show and every show, is register for our seminar on
a state planning, on tax planning, and social security planning.
We cover all all of these topics and it's up
to you to come and get educated. That's the bottom line.
Get educated first, understand the language, understand the rules, and
see how it applies to you and your retirement plan.
(08:44):
Because it's not about selling a product. That's not something
that you need to have someone tell you what to buy.
But if you don't understand. I had a gentleman the
other day call me and he said, Bobby, I've been
with my advisor for seven years. He said, he's not
listening to me. I'm looking for safety. He's giving me
all risk. So when I ask him what his risk
tolerance was, he had no idea. So we talk about
(09:05):
something called the rule of one hundred. Take your age
minus one hundred and kind of start there on the
baseline that you should start keeping some money safe. And
what Chris is talking about is portfolios that basically give
you gains when the market goes up and gains when
the market goes down. If you don't have that, now
is the time to pick up the phone and give
us a call eight three to three Maggie Tax. Visit
(09:27):
our website Maggie Tax dot com, register for our three
and one seminar and sit down and listen to what
we're going to say and then you make the decision.
Your all adults here, so adult to adult, this is simple.
We try to educate. We've been doing this for years,
so Chris, this is so important every time we sit
down with the client.
Speaker 3 (09:43):
Absolutely, and that's why education is extremely important. You know,
we'd call it the Maggie Plan because it's a plan
for you. It's simple and easy for you to understand.
It's tax planning, investment planning, insurance planning, estate planning, social
security maximization planning. So it's all right there, rolling over
your phone one K, your old four one K to
an IRA. It can offer many advantages, but everyone's situation
(10:05):
is different. Think carefully and weigh your options. If you
do decide a rollover is for you, consider doing a
direct rollover to an IRA instead of a sixty day rollover.
With a direct rollover, your retirement funds go right to
the IRA. You can avoid concerns about missing the sixty
day deadline, and you can skip any withholding requirements. So
pick up the phone, schedule time to meet with us.
(10:26):
We can help you. Eight three three Maggie tax. We
have offices on both sides of the bay. Visit our website.
My dad talked about it before the three and one seminar.
Register for it. Education is extremely important, so when you
come in to meet with us, we're gonna show you
what you can do with your old four to oh
one K or full one ks. We can show you
how to consolidate it no taxable event, and we can
(10:48):
do a plan, put together an investment plan for you.
We call it the Maggi Plan. Eight three three Maggi tax.
That's eight three to three d the tax.
Speaker 1 (10:57):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie tax dot com. That's
ma Ggi tax dot com. Or call eight one three
(11:19):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty now your host for
the Maggie Tax and Financial Hour, father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (11:34):
Welcome back everyone. You're listening to the Maggie Tax and
Financial Show. I am Robert Maggie and I'm here with
Chris Maggie. And if you're just tuning in, we've been
talking about the misunderstandings that you shouldn't fall victim to.
We talked about no investment account type is safer or
riskier than the other, and then diversifying funds does not
dilute your ability to make a profit. So number three,
let's talk about that right now. Chris, transferring funds between
(11:57):
investment accounts, it can be risky. And just because your
accounts allow you to transfer funds from one to another,
it doesn't mean that it's always the safe way to go.
And depending on how much is in each account and
how much you plan on transferring, you may end up
paying taxes on the same transferred amount for both accounts.
So before you move your funds around, it's best to
(12:18):
think twice and ask for an expert advice. And Chris,
you and I see this every day. People come in
they well, I had to take money out of this
and they created a tax problem or penalty.
Speaker 3 (12:28):
Let's talk about that for Well, we see that often
and that's something that should definitely not happen at all.
And one of the things that we do see that
happen because the advisor or the client just really doesn't know.
And it's sad that you put all your trust into
the advisor who you think knows how to do this,
and they mess up and they call it they cause
(12:49):
a tax of event. Give you a quick story. Had
a client that came in. They wanted to roll over
their iras and their roth irays to another institution. So
they called their advisor. That broke and the broker was mad,
so they said, you know what, I'll just send you
the money. So guess what they set send sent the
IRA money, which is one hundred percent tax will and
(13:09):
the roth IRA money to their checking account. So the
guy had over two hundred thousand dollars and he is
checking account and guess what he did. He just put
into a non qualified investment. And he came in and
met with us and he said, hey, I have this
IRA and have this roth IRA. So we looked at
his statements and I said, well, you don't have an
IRA anymore. You don't have a wroth you have this
(13:32):
non IRA account. He said no, my advisor rolled it
over and I said no, it did not happen that way.
So he just created a two hundred thousand dollars tax
liability because the client and the advisor did not do
it the right way. So these are things we're talking
about here. What could have happened is the advisor should
(13:53):
have just put the money in cash. The new institution
should have just sent a form over it's called the
Tree Answer form from trustee to trustee to the old
institution and they could transfer the money over without a
taxable event. So we could have kept his IRA intact.
He could have kept his roth Ira intact, and everything
could have went smoothly from there. In a new investment,
(14:16):
but that did not happen. So the broker was at fault.
The client was at fault. So both those people did
not know what to do. And that's why we should
seek expert advice. That's why when you come in and
meet with us, we're going to look at your accounts.
We're going to show you what you have, and we're
going to show you how you can transfer the money
over in the right best way for you.
Speaker 2 (14:34):
And the key word there in all the Chris said,
it is misunderstanding and knowledge his powers. So don't do
anything until you meet with someone who's qualified to answer
the question, and then then you can proceed and do it,
do it the right way. You feel better because what
Chris just explained. The client was very upset. He was
mad at the advisor and he was mad that he
didn't go see someone because he heard us on the radio,
(14:54):
he saw us on TV. And he said, at least
you guys understand and explain, because that's up to you, folks.
You've got to make sure that you understand. So you know,
that's the key word. So let's go to number four.
Number four bonus income and this is important, can be
taxed even after employer deductions. So if you've noticed that
your employer has already taken out a portion of your
bonus income for taxes, don't assume that you're out of
(15:18):
the woods. And the rate that they go by may
not be the same as yours. It's very possible that
you would need to pay the difference when tax season
rolls around. So the next time that you get a
bonus paid, just be prepared for the possibility of paying
back a little extra later on. And can I just
bring up a quick point here. We had a lottery winner.
(15:38):
Remember talk about that because this was a shocking you
know the result.
Speaker 3 (15:43):
Well, I's just said, it's a perfect case right here.
We experienced this about three years ago. We had a
client that went five million dollars on a scratch off
and they came in and they said, we're so excited.
You know, we want to invest the money. We want
to set up ourselves the right way. And we said, okay,
We said we have to look at that tax returned
first and figure out the taxes paid. And she said, well,
(16:04):
I already paid the taxes. So I looked at the
statement that she provided into twenty five percent tax withholding
but back then the tax rate was thirty nine point six,
so guess what, she still had to pay more in tax.
So she said, no, Chris, I already paid the tax,
and I said you did, but you didn't pay enough.
(16:25):
So they only withheld twenty five percent, but they should
have withheld thirty nine point six. They did not know
that she was in the highest tax bracket at the time.
So this is a perfect example. So whenever you get
a bonus, make sure that you look at the other
income because they whoever's giving you the money, they don't
know your personal tax situation. Filing, they don't know if
(16:46):
you're single, they don't know if you're married, filing jointly,
marriage filing separately, head of household, They don't know all
those things that you need to have availab before you
make sure that you withhold the tax. So this is
so important. So pick up the phone, schedule time to
meet with us. Let's look at this for you eight
three three Maggie tax.
Speaker 2 (17:02):
And you just let into number five. Filing taxes earlier
or later doesn't change the payment due date. Regardless of
when you decide to file your taxes, everyone has a
set date on when they need to pay what they owe,
and you can postpone this date by filing early or late.
So don't count on this misunderstanding to work in your favor,
or else you may find yourself scrambling at the last
(17:23):
minute to gather the money for payment. And here's the thing.
Filing most people, I shouldn't say most people. People get
bonuses different times of the year, correct, And what should
be held out is the amount of tax that your
tax liability is. They don't do that. So at the
end of the year, when you get your tax return,
you get all the information and then you put that
on your tax return. Guess what, Just like Chris said,
(17:45):
you think you're in a twenty nine percent tax back
and you're in a thirty nine percent tax bracket. Guess
who has to pay the taxes? Chris, you do. You're
still liable.
Speaker 3 (17:53):
So that's why it's so important to pick up the phone,
schedule time to meet with us. We do tax planning,
we do income planning, we do investment planning. Most advisors
out there just deal with investments. That's just you're missing
the boat because taxes are our biggest expense. So if
you're working with an advisor, right now who is not
talking about strategic rollouts and roth conversions and options for
ways for you to reduce your taxes. Then you are
(18:15):
the one who is going to miss out. So pick
up the phone schedule time to meet with us. Today
we talked about five personal finance misunderstandings that you should
not fall victim too, and just to summarize what they are,
No investment account type is safer or riskier than another.
Number two, diversifying funds does not necessarily dilute your ability
to make a profit. Number three, Transferring funds between investment
(18:38):
accounts can be risky. And four bonus income can be
taxed even after employer deductions. And number five we talked
about today, Filing taxes earlier or later doesn't necessarily change
the payment due date. So pick up the phone, schedule
time to meet with us. Visit our website Maggi Tax
dot com. Eight three to three Maggi Tax. That's eight
(18:58):
three to three Maggie Tax.
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 ma
gg I tax dot com. Or call eight one three
(19:23):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty now your host for
the Maggie Tax and Financial Hour. Father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 3 (19:39):
Welcome back to the Maggie Tax and Financial Show. And
each and every week we are so grateful to be here.
Why because we help a lot of people in a
lot of different ways. And that's what we call it
the Maggie Plan. It's a tax planning, it's income planning,
it's investment planning, it's a state planning, it's social security
maximization planning. If you're looking for a path, if you're
looking for a plan, you know we ask many people,
(19:59):
what's your plan? If you don't have a plan, we
can help you. So pick up the phone, schedule time
to meet with us. Eight three to three. Maggie Tax.
We have office on both sides of the Bay. Visit
our website. There's so much information right there at your fingertips.
We can help you eight three to three Magi tax.
And by the way, we're talking about debt to the IRS.
But I want to throw one one thing out there.
Speaker 2 (20:17):
If you're a broker or your CPA is not discussing
IRS debt, then shame on them, Maggie Tax. We discuss
this every day with every client because it's not about
selling a product that's a retail person. We talk about
complete planning. And many times when clients come in and
they meet with Chris and I and they say, man,
this is what I thought we were going to get.
You know why, because everybody's I guess programmed into meeting
(20:39):
with an advisor that they're going to sell you a
stock bond in mutual fund. They don't talk about taxes,
they don't talk about any planning, and that's wrong. So
tax mitigation strategies are becoming a crucial component of retirement
income planning. That's what we do. And if you're a
broker a CPA is not discussing this and not discussing
tax mitigation strategies, challenge them and ask them, hey, by
(21:00):
the way, can you talk about some tax mitigation. You're
gonna throw them probably right off the check because they're
not gonna know what the hell talk about.
Speaker 3 (21:06):
Well, a lot of advisors they say, well, we don't
really do with taxes. You might talk to you your
CPA or your tax prepairer. Meanwhile, you take the time
to go see your tax prepairer and they say, no,
we just do tax preparation and no one does tax planning,
but we do. That's why it's so important when you
come in to meet with us. We're gonna look at
your tax return. Your tax return is like an X
(21:26):
ray to us. See, we see it, we understand it.
We understand how the investments work on the tax return,
how they work together. Many advisors don't even they're afraid
of the tax return. They have no idea what it
looks like and how it's causing you to pay taxes.
They're just doing the retail thing. They just want to
sell you a product or sell you a concept. That's
not what it's about. You deserve more. That's why Maggie
(21:46):
Tax Advisor and Financial Group we do complete planning. We
have the Maggie Plan, an investment plan, tax planning, insurance planning,
that's what we do, income planning. Why because everything is
there to help you in a state plan. How many
people have an account but they have no estate planning?
My gosh, how many people have checking and savings accounts
but those accounts aren't titled the right way?
Speaker 2 (22:08):
Are they going to go through probate? Do you know?
Speaker 3 (22:10):
These are the questions we ask you. So when you
come to meet with us, we're going to take our time.
We're going to go over things with you. Why because
you need to know. You need to know no one's
telling you quick example, I went to the bank the
other day, a credit union, and open up an account
and guess what when I left five minutes later, I said,
is this account going to pass to my wife and
my two kids? And the girl said, well, is that
(22:31):
what you want? I said absolutely. Why don't you tell
me that there are ways you can you can transfer
these accounts to your beneficiaries and avoid probate. And she said, well,
we're not programmed that way, We're we're not taught that
thing to do that. And I said, oh my gosh,
this is crazy, But that's why they needed advisors like us.
So pick up the phone, schedule time to meet with us,
eight three to three, Maggie tax.
Speaker 2 (22:51):
One more thing I want to mention to all of you.
If you go to our website Maggie Tax dot com,
click on seminars. We do two seminars a month on
a state plan. It's about an hour. We hold them
at libraries across Penelas in Hillsborough County. You go check
it out. The dates and times are there. We've had
sixty seventy eighty people attend because of what we're talking
about today. They don't have it titled correctly, they don't
(23:13):
have the beneficiaries, they have a home and they're saying, well,
I don't want to go through probate. Well guess what.
It's going to go through probate unless you have the
right document. And this is serious business, so we don't
fool around when we talk about all of these things
we're talking about today. You should take it serious. Eight
three to three Maggie Tax. And when you call, just
tell the operator it's urgent. It's urgent that you speak
(23:33):
with us on these issues because these are things that
are going to affect many of you out there. And
here's a question I would ask, if you're a broker
or a CP, are they talking about buying out the irs?
Buying out the irs? What does that mean, well, that's
what we do when we do strategic planning. Because I
know you don't want to pay the tax today. We
understand that, but you're going to pay a tax later
(23:54):
at a higher amount. So why don't let Chris and
I do a strategic rollout for you, show you how
to pay the lowest and have more tax free money
later because you know what's the rate going to be
later on, and it doesn't make sense, so why would
you do that? So because they do not understand taxes
and Maggie tax we understand taxes and tax planning. Think
about those words tax planning, okay, and taxes. Ask you
(24:17):
broker and he's going to tell you what Chris just said. Oh,
we don't do that because they don't have they don't
understand taxes. This is a big part, Chris, of everyone
listening to this show.
Speaker 3 (24:26):
Absolutely, and that's why it's important to me with the
right advisor. And you're listening today. You have questions, you
have thoughts. You go to bed at night, you're thinking
about your retirement. Am I going to have enough for retirement?
What kind of income streams am I going to have
in retirement? What's my investments look like? What if the
market goes down and I have to take income from
and how it's it going to affect me? Well, what
about the taxes if I take this income? How much
(24:48):
is going to be taxed? And what about if I
pass away? Is everything to stay in the family and
go to my kids or my wife?
Speaker 2 (24:54):
How is this?
Speaker 3 (24:55):
Are you thinking these things at night? These are the
questions many people have and they just don't have answers.
But if you're listening today, it's a perfect opportunity to
write our number down eight three to three Magi Tax.
Visit our website at Maggi tax dot com, schedule time
to meet with us. We have offices on both sides
of the Bay to help you. Eight three to three
Maggie Tax. And here's another strategy and concept that we use.
Speaker 2 (25:17):
Many people are talking about it, you know right now,
Wroth conversions because they pay the tax now and they
have tax free money later. So just be careful if
you do a Wroth conversion, make sure you do it
the right way and do it from your tax return
so you pay the least amount of taxes. And that's
what we do in Chris. When we do a Roth conversion,
we always show them not just this year, but we
(25:37):
show them two, three, four, five years how to take
that money out, pay the least amount of tax and
then they have tax free money. Isn't that a better way?
Speaker 3 (25:44):
Absolutely? But you can control the tax rate, and that's
what's so important. Like when we ask people how much
do you want to pay in tax and they look
at me like, well, I don't know, but when we
look at it, none exactly. But you mentioned a great
word and great phrase is buying out the irs? Why
not do it now? When is cheaper?
Speaker 2 (26:00):
You buy things?
Speaker 3 (26:01):
You go to the store when and you buy things
why because they're on sale?
Speaker 2 (26:04):
Right?
Speaker 3 (26:05):
So you want to buy a loaf of bread at
a dollar, You're not going to get it anywhere else,
but once it's on sale, you want to buy it.
So that's the whole point. What if taxes rate now
in your retirement is on sale and you can buy
out the irs at a cheaper rate as opposed to
later on which is going to be a lot higher.
Speaker 2 (26:22):
So think about that. What if you do it strategically?
Speaker 3 (26:25):
What if you have a plan, a tax plan, tax planning, planning,
that's what we're talking about here. You need to understand
that planning is not just with your investments. It's about taxes.
It's about income planning as well. What is your plan,
what's your tax plan, what's your investment plan, what's your
income plan? What's your estate plan? If you don't have one,
we can help you eight three three, Maggie tax.
Speaker 2 (26:45):
But one thing before we can help you address this risk.
We must help all of you understand when we talk
about the language, all right, the language of your debt
to the irs, and what strategies you can use to
mitigate the word listen, mitigate mitigate the tax risk. Anyone
talking to you about that, and help you under stand
the language. That's why we say eight three three, Maggie tax.
(27:05):
Give us a call, tell the operator it's urgent. You
want to talk about and use the words. I want
to understand how to mitigate my taxes and I want
to have less tax to pay, and they'll get the
appointment for you, and then we can sit down, like
Chris said, have an adult conversation. And here's how this works.
You tell us your concerns and they will tell you
what we can do. You're going to make the final decision.
You're not pushed into anything. We have clients come in and say, well,
(27:27):
you know, my brokers said, well, my CPA said, why
are you being told to do something without understanding what
to do? Chris? That always confuses me. Well, that's the thing.
Speaker 3 (27:36):
Many people out there been with their advisor five years
or ten years, and they're scared of their advisor. This
is your money, not theirs. It's not our money, it's yours.
This is your planning. Wouldn't you want to get the
right information so you can make the right educated decision
on what you can and can do. Absolutely, but when's
the last class you had on this stuff? When the
people talking about this, when they talk about taxes at
(27:57):
your work or in your retirement community, they're talking about that.
We are we retire each and every day. We do
this each and every day to help you, and that's
what we do. You know, you can use the tax
and mitigation strategies. They are out there, but guess what,
no one's talking to you about it, but we are.
So make sure you pick up the phone, schedule time
to meet with us. Eight three to three, Maggie Tax
(28:19):
And many of you look at your retirement account balances.
It's all you look at. Oh my gosh, there's a
going up. Yeah, it went up ten thousand or one
hundred thousand for the year. But you forget something. You
need to net out the federal government's share. It's like
playing a football game and you're up at halftime and
everything is great, but guess what got You got more
minutes to play and that's when Uncle Sam comes and
he beats you because you got to pay the taxes.
(28:41):
So what are you doing about it? That's what we
can do. So pick up the phone, schedule time to
meet with us. Let's help you diffuse the big tax
time bomb that you have with your investments. Eight three
to three Maggie tax.
Speaker 2 (28:52):
The difference is, Chris. They have a plan. It's called
the government plan. That's right, it's called the plan that
they could do whatever they want. And how would I
say that. It's called legislation at your risk because think
about this. If you have a pencil, hold it up
because it's all written in pencil. They can change your
rules anytime, and they've done that with the R and
D deadlines. What used to be seventy and a half
now seventy two, now seventy three. They've changed that. So
(29:14):
they can change the tax code anytime. You all know this.
I don't have to educate you on that. You see
it every year. Every four years we get an election,
and here's the biggest thing. Everybody's worried about. What's going
to happen in this election. It doesn't make a difference.
It doesn't make a difference because it's going to be
something that we all know is going to happen anyway.
So you have to do some planning, do some proper planning.
Don't look at it from a micro lens, look at
(29:35):
it from a macro lens. Mean maybe your agent has
never said those words to you, because we do. We
understand taxes, we understand income, you have market risk, you
have income risk, you have a tax risk. What else
do we have? What other kind of investment risk? And
are they talking about that? No, So you have to
understand this is what you have to say to an
(29:55):
advisor of what you want. It's your money. So go
to my website. In thirty seconds you can see what
your retirement tax bill is going to look like. Click
on the retirement tax bill, put in your information and
then call me eight three to three Magie Tax and
tell the operator it's urgent that we meet to discuss
your debt to the irs again eight three to three
Magi Tax. And the reason why this is so important
(30:17):
today is because many of you may be overestimating the
amount of spendable retirement income that you have. You think
you have a million dollars, You do not. You have
a half a million dollars. So if you're looking for
ways to communicate the risk, we have an easy solution.
Visit Maggie tax dot com, click on the retirement calculator
and in thirty seconds you're going to see what your
retirement account looks like. And I just want to end
(30:39):
with this because there's a way to address debt that's
far more complete than mister Ramsey's approach. And that's true.
Eight three to three Maggie Tax. Visit our website, Maggie
Tax dot com. T an in tomorrow every Sunday to
walk TV show at ten thirty on ABC TV. We
have a lot of information, a lot of good information
you can go to read three Maggie Tax. Visit Maggie
(31:02):
Tax dot com. You're listening to the Maggie Tax and
Financial Show.
Speaker 1 (31:06):
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 Megan.
Speaker 3 (31:43):
Back.
Speaker 2 (31:43):
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 diverse when it comes to the tax
status of your retirement accounts, that could be exactly what
(32:04):
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 regardless
(32:25):
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 it. 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 where
(34:00):
is 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
could 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 (34:31):
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
a will? And if you're listening right now and you don't,
(34:53):
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. We can
get 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 many of you
listening today are looking at me or listening to me
(35:14):
and going like, no, well, that's why you need to
meet with us eight three to three Maggie Techs. Visit
my website Maggie tax dot com. On the top where
it says seminars, it will 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, because
your advisor is not talking about social security. He's not
(35:37):
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 corgers 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 listening but
they're not doing anything about it. And in a year
(35:58):
from now people are going to go, oh my god,
what am I going to do well. That may be
too late. So that's why we're challenging you. Pick up
the phone eight 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
(36:18):
that doesn't wake them up, I don't know what will. Well,
that's it.
Speaker 3 (36:20):
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 ind taxes
(36:43):
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. Why doing
a state planning, and we have all your accounts, make
sure that they stay in your family and not go
through probate and Uncle Sam. So when you sit down
(37:04):
and you start thinking about what you want in your
retirement plan, pick up the phone, schedule time the need
of us. 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
(37:27):
impact is going 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 Maggi Tax.
Speaker 2 (37:46):
Don't forget. 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
to seventy WFLA. So we're giving you a lot of
help We're trying to make you see it from a
different lens because 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
(38:07):
you're young, old, or 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
(38:29):
on ABC TV to the Maggie Tax and Financial Show.
So pick up the phone, call us at eight three
three Maggie Tax, and be sure to visit Maggie Tax
dot Com. That's eight three three Maggie.
Speaker 1 (38:38):
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 Panela's County. Visit Maggie Tax dot
com or call eight one three three two two twenty
five twenty. That's eight one three three two two t
(39:00):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
All these years you've saved up planning for a secure retirement,
but if you're not careful, it will be the irs
that's living it up when you retire by taxing your
hard earned money. Welcome to the Maggie Tax and Financial
Hour with Robert and Chris Maggie of Maggie Tax Advisory
and Financial Group. With over thirty years of combined experience
in tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty, or visit Maggie
Tax dot com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:53):
Welcome everyone, and thanks for joining us today. My name
is Robert Maggie and I'm here with Chris Maggie. You
should have visited our website, Maggie Tax dot com and
also give us a call at eight three to three
Maggie Tax. If you want to schedule an apployment operators
were standing by right now. So we're going to talk
about a lot of things today, about why you should
roll over your retirement funds to an IRA, people are
confused on what they should be doing, on tips on
(01:15):
how to create a plan with your partner, but more importantly,
visit our website Maggie Tax dot com. We have a
lot of videos there on all the topics that we're
going to discuss, and be sure to register for our
seminar three and one seminar on estate planning, tax planning
and social security planning. Again, give us a call eight
three to three Maggie Tax and visit our website at
Maggie tax dot.
Speaker 3 (01:36):
Com and welcome everyone. I'm Chris Maggie. Thank you so
much for tuning into our show. And as my dad
mentioned before, education is extremely important. That's why we do
the three in one seminar. Visit our website Maggie Tax
dot com. You go register right there. We're talking about
tax planning, social security planning. That's what it's all about,
is state planning. My gosh, there's so much to discuss
investment planning so much to talk about and educate your
(02:00):
self about because things are changing and you want to
be equipped with everything in the right spot before things happen.
Speaker 2 (02:06):
So welcome to our show.
Speaker 3 (02:08):
If you're like most American workers, you know you might
have changed jobs many times during your lifetime, and with
job changes, you're gonna have to make decisions. They have
to be made. What should you do with the funds
and your retirement plan? That's a lot of questions we get.
We get that each and every week when we when
we sit down and talk to people because they say,
what should I do with my old form one K? Well,
(02:30):
one option is to do a rollover to an IRA,
and an IRA is an individual retirement account. It's a
qualified plan just like a four and one K, and
you can roll over those funds to an IRA and
then offer some big benefits. Let's talk about those.
Speaker 2 (02:45):
Yeah, and the point where the objective there is to
grow your retirement savings. So think about this. When you
contributed to your employer's plan, you made the smart decision
to save for retirement. We have to save and we
do it in a qualified plan that gives you a
tax deduction. Rolling those funds over to an IRA will
allow you to preserve those dollars for retirement and even
(03:05):
add them in the future. So you could keep your
funds in an IRA and make IRA contributions and get
that advantage, or you could move the funds over to
future employers plan. Like Chris mentioned, sometimes you change jobs,
so you want to move that plan from one to
the other to avoid the tax hit. But either way,
your retirement savings will remain intact and potentially grow. And
(03:27):
that's the point you want to make.
Speaker 3 (03:28):
That's is exactly right. You want to grow those retirement savings.
And the other benefit is there's no tax hit. May
be tempting to hold on to any funds distributed to
you from your employer plan. If you do, there will
likely be a tax bill. So most retirement plan funds
are taxable when they are distributed, So that's why you
want to make sure that you handle these accounts with care.
(03:51):
And even worse, if you're under age fifty nine and
a half, you maybe hit with a ten percent early
distribution penalty unless there's an exception to be made, which
there are a couple of those if you know the
tax rules. So right now, it's important to understand what
you can and can't do. And the penalty doesn't apply
if you take out your funds following separation from service
(04:11):
in the year that you turn age fifty five or older,
or fifty or older if your public safety employees. So
make sure you understand the rules. Make sure you understand
when you touch these funds, these qualified accounts like four
one ks or iras or four h three b's or
four fifty seven plans, you handle them with care because
if not, they could be a tax bill that's going
(04:33):
to be created and you have to pay more tax
or even a penalty.
Speaker 2 (04:36):
So let's talk about the tax bill. On my website,
Maggie tax dot com. You gheit on the top right,
you'll see retirement tax Bill. Everyone can go there right
now and fill in your information on what the value
of your four one K or your IRA is and
in thirty seconds, it's going to tell you what your
tax bill is going to look like when you retire
at seventy two or what the R and D is
going to be when you get to that age. Because
(04:57):
people today do not understand that with clients every day
and they do not understand the RMD and when they
have to take it out. This is important, So go
to our website maggietax dot com, click on the retirement
bill and put in your numbers, and in thirty seconds
it's going to give you the results. Because then what
you should do is sit down and like Chris and
I are talking about, understand the language and understand the rules,
(05:19):
because so many people Chris get confused and they make
the wrong choice and the guess what tax time comes
and we find that out.
Speaker 3 (05:26):
That's it. So we talked about how there's no taxable
hit if you roll over these funds. But also a
benefit is the investment options. Changing jobs can be stressful
and overwhelming, as we all know, maybe tempting to just
ignore your retirement savings and leave them in your former
employer's plan and just let it sit there. Right, how
many people have done that. But by taking this path
(05:46):
of least resistance, you may be missing out. And we
talk about that because your employer plan may offer some
solid investment choices, but maybe not enough. Inside those plans,
you might have five investment options to choose from, or
ten or even fifteen, and that's it. So by rolling
over to an IRA, you could take advantage of many,
many more options. You can start doing bucket planning. You
(06:08):
can set up an account for a future guaranteed income sources,
maybe like your own family pension plan. Maybe we'd like
to generate another bucket of inflation protection risk or in options.
So there's a lot of options you can take if
you go ahead and think about and sit down with
the right advisors to talk about how to roll over
(06:29):
these funds. And the choices for IRA investments are almost
limitless in an IRA, and you should be able to
find that some mostly closely are suited for your needs.
And that's what it's about, putting together a plan for
you and developing a plan. That's why we call it
the Maggie Plan.
Speaker 2 (06:43):
Well, in staying with that, on the investment side, many
people are confused because they only think they can do
mutual funds or stocks or bonds. But in the managed
accounts that you work with, can you talk about a
few of the options, like the managed portfolios that you
can get the gains and not the loss and even
when the market goes down, you can make money. So
is that something that they if you're listening and you
don't have that, listen to what Chris has to say no,
(07:05):
that's great.
Speaker 3 (07:06):
And at Maggie Investment Services we're registered investment advisory firms.
So there's different managed actively managed portfolios. There's some out
there that have a buffer index strategy where you can
make money when the market goes up, but if the
mark goes down, they call it a buffer where you
could not lose money. If the market goes down, or
if the buffer is twenty percent and the market goes
(07:26):
down eighteen you don't lose nothing. It's a zero percent loss,
but if it passes twenty percent, then you lose the difference.
So if it goes down twenty two percent, you might
lose two. But the bottom line here is that you
can be invested in the market and have downside protection
and there's ways to do that in multiple investments. So
it's important to meet with the right advisor. So let's
(07:47):
sit down have a conversation about what your goals are.
Do you want risk, do you want safety? Do you
want a combination of both. Do you want to carve
out a bucket of inflation protection assets. Do you want
to carve out a bucket for future of paychecks and
play checks? Do you want to carve out a bucket
where you take a lot of risk or dividend producing options.
(08:07):
This is what we're talking about here. So by carefully
sitting down and looking at your investment options, and that's
why we created the Maggie Plan is so dynamic and
informative to you because now's the time to generate a plan,
and that's why we call it the Maggi Plan.
Speaker 2 (08:22):
And one other point that is very important during today's
show and every show, is register for our seminar on
a state planning, on tax planning, and social security planning.
We cover all all of these topics and it's up
to you to come and get educated. That's the bottom line.
Get educated first, understand the language, understand the rules, and
see how it applies to you and your retirement plan.
(08:44):
Because it's not about selling a product. That's not something
that you need to have someone tell you what to buy.
But if you don't understand. I had a gentleman the
other day call me and he said, Bobby, I've been
with my advisor for seven years. He said, he's not
listening to me. I'm looking for safety. He's giving me
all risk. So when I ask him what his risk
tolerance was, he had no idea. So we talk about
(09:05):
something called the rule of one hundred. Take your age
minus one hundred and kind of start there on the
baseline that you should start keeping some money safe. And
what Chris is talking about is portfolios that basically give
you gains when the market goes up and gains when
the market goes down. If you don't have that, now
is the time to pick up the phone and give
us a call eight three to three Maggie Tax. Visit
(09:27):
our website Maggie Tax dot com, register for our three
and one seminar and sit down and listen to what
we're going to say and then you make the decision.
Your all adults here, so adult to adult, this is simple.
We try to educate. We've been doing this for years,
so Chris, this is so important every time we sit
down with the client.
Speaker 3 (09:43):
Absolutely, and that's why education is extremely important. You know,
we'd call it the Maggie Plan because it's a plan
for you. It's simple and easy for you to understand.
It's tax planning, investment planning, insurance planning, estate planning, social
security maximization planning. So it's all right there, rolling over
your phone one K, your old four one K to
an IRA. It can offer many advantages, but everyone's situation
(10:05):
is different. Think carefully and weigh your options. If you
do decide a rollover is for you, consider doing a
direct rollover to an IRA instead of a sixty day rollover.
With a direct rollover, your retirement funds go right to
the IRA. You can avoid concerns about missing the sixty
day deadline, and you can skip any withholding requirements. So
pick up the phone, schedule time to meet with us.
(10:26):
We can help you. Eight three three Maggie tax. We
have offices on both sides of the bay. Visit our website.
My dad talked about it before the three and one seminar.
Register for it. Education is extremely important, so when you
come in to meet with us, we're gonna show you
what you can do with your old four to oh
one K or full one ks. We can show you
how to consolidate it no taxable event, and we can
(10:48):
do a plan, put together an investment plan for you.
We call it the Maggi Plan. Eight three three Maggi tax.
That's eight three to three d the tax.
Speaker 1 (10:57):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie tax dot com. That's
ma Ggi tax dot com. Or call eight one three
(11:19):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty now your host for
the Maggie Tax and Financial Hour, father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (11:34):
Welcome back everyone. You're listening to the Maggie Tax and
Financial Show. I am Robert Maggie and I'm here with
Chris Maggie. And if you're just tuning in, we've been
talking about the misunderstandings that you shouldn't fall victim to.
We talked about no investment account type is safer or
riskier than the other, and then diversifying funds does not
dilute your ability to make a profit. So number three,
let's talk about that right now. Chris, transferring funds between
(11:57):
investment accounts, it can be risky. And just because your
accounts allow you to transfer funds from one to another,
it doesn't mean that it's always the safe way to go.
And depending on how much is in each account and
how much you plan on transferring, you may end up
paying taxes on the same transferred amount for both accounts.
So before you move your funds around, it's best to
(12:18):
think twice and ask for an expert advice. And Chris,
you and I see this every day. People come in
they well, I had to take money out of this
and they created a tax problem or penalty.
Speaker 3 (12:28):
Let's talk about that for Well, we see that often
and that's something that should definitely not happen at all.
And one of the things that we do see that
happen because the advisor or the client just really doesn't know.
And it's sad that you put all your trust into
the advisor who you think knows how to do this,
and they mess up and they call it they cause
(12:49):
a tax of event. Give you a quick story. Had
a client that came in. They wanted to roll over
their iras and their roth irays to another institution. So
they called their advisor. That broke and the broker was mad,
so they said, you know what, I'll just send you
the money. So guess what they set send sent the
IRA money, which is one hundred percent tax will and
(13:09):
the roth IRA money to their checking account. So the
guy had over two hundred thousand dollars and he is
checking account and guess what he did. He just put
into a non qualified investment. And he came in and
met with us and he said, hey, I have this
IRA and have this roth IRA. So we looked at
his statements and I said, well, you don't have an
IRA anymore. You don't have a wroth you have this
(13:32):
non IRA account. He said no, my advisor rolled it
over and I said no, it did not happen that way.
So he just created a two hundred thousand dollars tax
liability because the client and the advisor did not do
it the right way. So these are things we're talking
about here. What could have happened is the advisor should
(13:53):
have just put the money in cash. The new institution
should have just sent a form over it's called the
Tree Answer form from trustee to trustee to the old
institution and they could transfer the money over without a
taxable event. So we could have kept his IRA intact.
He could have kept his roth Ira intact, and everything
could have went smoothly from there. In a new investment,
(14:16):
but that did not happen. So the broker was at fault.
The client was at fault. So both those people did
not know what to do. And that's why we should
seek expert advice. That's why when you come in and
meet with us, we're going to look at your accounts.
We're going to show you what you have, and we're
going to show you how you can transfer the money
over in the right best way for you.
Speaker 2 (14:34):
And the key word there in all the Chris said,
it is misunderstanding and knowledge his powers. So don't do
anything until you meet with someone who's qualified to answer
the question, and then then you can proceed and do it,
do it the right way. You feel better because what
Chris just explained. The client was very upset. He was
mad at the advisor and he was mad that he
didn't go see someone because he heard us on the radio,
(14:54):
he saw us on TV. And he said, at least
you guys understand and explain, because that's up to you, folks.
You've got to make sure that you understand. So you know,
that's the key word. So let's go to number four.
Number four bonus income and this is important, can be
taxed even after employer deductions. So if you've noticed that
your employer has already taken out a portion of your
bonus income for taxes, don't assume that you're out of
(15:18):
the woods. And the rate that they go by may
not be the same as yours. It's very possible that
you would need to pay the difference when tax season
rolls around. So the next time that you get a
bonus paid, just be prepared for the possibility of paying
back a little extra later on. And can I just
bring up a quick point here. We had a lottery winner.
(15:38):
Remember talk about that because this was a shocking you
know the result.
Speaker 3 (15:43):
Well, I's just said, it's a perfect case right here.
We experienced this about three years ago. We had a
client that went five million dollars on a scratch off
and they came in and they said, we're so excited.
You know, we want to invest the money. We want
to set up ourselves the right way. And we said, okay,
We said we have to look at that tax returned
first and figure out the taxes paid. And she said, well,
(16:04):
I already paid the taxes. So I looked at the
statement that she provided into twenty five percent tax withholding
but back then the tax rate was thirty nine point six,
so guess what, she still had to pay more in tax.
So she said, no, Chris, I already paid the tax,
and I said you did, but you didn't pay enough.
(16:25):
So they only withheld twenty five percent, but they should
have withheld thirty nine point six. They did not know
that she was in the highest tax bracket at the time.
So this is a perfect example. So whenever you get
a bonus, make sure that you look at the other
income because they whoever's giving you the money, they don't
know your personal tax situation. Filing, they don't know if
(16:46):
you're single, they don't know if you're married, filing jointly,
marriage filing separately, head of household, They don't know all
those things that you need to have availab before you
make sure that you withhold the tax. So this is
so important. So pick up the phone, schedule time to
meet with us. Let's look at this for you eight
three three Maggie tax.
Speaker 2 (17:02):
And you just let into number five. Filing taxes earlier
or later doesn't change the payment due date. Regardless of
when you decide to file your taxes, everyone has a
set date on when they need to pay what they owe,
and you can postpone this date by filing early or late.
So don't count on this misunderstanding to work in your favor,
or else you may find yourself scrambling at the last
(17:23):
minute to gather the money for payment. And here's the thing.
Filing most people, I shouldn't say most people. People get
bonuses different times of the year, correct, And what should
be held out is the amount of tax that your
tax liability is. They don't do that. So at the
end of the year, when you get your tax return,
you get all the information and then you put that
on your tax return. Guess what, Just like Chris said,
(17:45):
you think you're in a twenty nine percent tax back
and you're in a thirty nine percent tax bracket. Guess
who has to pay the taxes? Chris, you do. You're
still liable.
Speaker 3 (17:53):
So that's why it's so important to pick up the phone,
schedule time to meet with us. We do tax planning,
we do income planning, we do investment planning. Most advisors
out there just deal with investments. That's just you're missing
the boat because taxes are our biggest expense. So if
you're working with an advisor, right now who is not
talking about strategic rollouts and roth conversions and options for
ways for you to reduce your taxes. Then you are
(18:15):
the one who is going to miss out. So pick
up the phone schedule time to meet with us. Today
we talked about five personal finance misunderstandings that you should
not fall victim too, and just to summarize what they are,
No investment account type is safer or riskier than another.
Number two, diversifying funds does not necessarily dilute your ability
to make a profit. Number three, Transferring funds between investment
(18:38):
accounts can be risky. And four bonus income can be
taxed even after employer deductions. And number five we talked
about today, Filing taxes earlier or later doesn't necessarily change
the payment due date. So pick up the phone, schedule
time to meet with us. Visit our website Maggi Tax
dot com. Eight three to three Maggi Tax. That's eight
(18:58):
three to three Maggie Tax.
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 ma
gg I tax dot com. Or call eight one three
(19:23):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty now your host for
the Maggie Tax and Financial Hour. Father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 3 (19:39):
Welcome back to the Maggie Tax and Financial Show. And
each and every week we are so grateful to be here.
Why because we help a lot of people in a
lot of different ways. And that's what we call it
the Maggie Plan. It's a tax planning, it's income planning,
it's investment planning, it's a state planning, it's social security
maximization planning. If you're looking for a path, if you're
looking for a plan, you know we ask many people,
(19:59):
what's your plan? If you don't have a plan, we
can help you. So pick up the phone, schedule time
to meet with us. Eight three to three. Maggie Tax.
We have office on both sides of the Bay. Visit
our website. There's so much information right there at your fingertips.
We can help you eight three to three Magi tax.
And by the way, we're talking about debt to the IRS.
But I want to throw one one thing out there.
Speaker 2 (20:17):
If you're a broker or your CPA is not discussing
IRS debt, then shame on them, Maggie Tax. We discuss
this every day with every client because it's not about
selling a product that's a retail person. We talk about
complete planning. And many times when clients come in and
they meet with Chris and I and they say, man,
this is what I thought we were going to get.
You know why, because everybody's I guess programmed into meeting
(20:39):
with an advisor that they're going to sell you a
stock bond in mutual fund. They don't talk about taxes,
they don't talk about any planning, and that's wrong. So
tax mitigation strategies are becoming a crucial component of retirement
income planning. That's what we do. And if you're a
broker a CPA is not discussing this and not discussing
tax mitigation strategies, challenge them and ask them, hey, by
(21:00):
the way, can you talk about some tax mitigation. You're
gonna throw them probably right off the check because they're
not gonna know what the hell talk about.
Speaker 3 (21:06):
Well, a lot of advisors they say, well, we don't
really do with taxes. You might talk to you your
CPA or your tax prepairer. Meanwhile, you take the time
to go see your tax prepairer and they say, no,
we just do tax preparation and no one does tax planning,
but we do. That's why it's so important when you
come in to meet with us. We're gonna look at
your tax return. Your tax return is like an X
(21:26):
ray to us. See, we see it, we understand it.
We understand how the investments work on the tax return,
how they work together. Many advisors don't even they're afraid
of the tax return. They have no idea what it
looks like and how it's causing you to pay taxes.
They're just doing the retail thing. They just want to
sell you a product or sell you a concept. That's
not what it's about. You deserve more. That's why Maggie
(21:46):
Tax Advisor and Financial Group we do complete planning. We
have the Maggie Plan, an investment plan, tax planning, insurance planning,
that's what we do, income planning. Why because everything is
there to help you in a state plan. How many
people have an account but they have no estate planning?
My gosh, how many people have checking and savings accounts
but those accounts aren't titled the right way?
Speaker 2 (22:08):
Are they going to go through probate? Do you know?
Speaker 3 (22:10):
These are the questions we ask you. So when you
come to meet with us, we're going to take our time.
We're going to go over things with you. Why because
you need to know. You need to know no one's
telling you quick example, I went to the bank the
other day, a credit union, and open up an account
and guess what when I left five minutes later, I said,
is this account going to pass to my wife and
my two kids? And the girl said, well, is that
(22:31):
what you want? I said absolutely. Why don't you tell
me that there are ways you can you can transfer
these accounts to your beneficiaries and avoid probate. And she said, well,
we're not programmed that way, We're we're not taught that
thing to do that. And I said, oh my gosh,
this is crazy, But that's why they needed advisors like us.
So pick up the phone, schedule time to meet with us,
eight three to three, Maggie tax.
Speaker 2 (22:51):
One more thing I want to mention to all of you.
If you go to our website Maggie Tax dot com,
click on seminars. We do two seminars a month on
a state plan. It's about an hour. We hold them
at libraries across Penelas in Hillsborough County. You go check
it out. The dates and times are there. We've had
sixty seventy eighty people attend because of what we're talking
about today. They don't have it titled correctly, they don't
(23:13):
have the beneficiaries, they have a home and they're saying, well,
I don't want to go through probate. Well guess what.
It's going to go through probate unless you have the
right document. And this is serious business, so we don't
fool around when we talk about all of these things
we're talking about today. You should take it serious. Eight
three to three Maggie Tax. And when you call, just
tell the operator it's urgent. It's urgent that you speak
(23:33):
with us on these issues because these are things that
are going to affect many of you out there. And
here's a question I would ask, if you're a broker
or a CP, are they talking about buying out the irs?
Buying out the irs? What does that mean, well, that's
what we do when we do strategic planning. Because I
know you don't want to pay the tax today. We
understand that, but you're going to pay a tax later
(23:54):
at a higher amount. So why don't let Chris and
I do a strategic rollout for you, show you how
to pay the lowest and have more tax free money
later because you know what's the rate going to be
later on, and it doesn't make sense, so why would
you do that? So because they do not understand taxes
and Maggie tax we understand taxes and tax planning. Think
about those words tax planning, okay, and taxes. Ask you
(24:17):
broker and he's going to tell you what Chris just said. Oh,
we don't do that because they don't have they don't
understand taxes. This is a big part, Chris, of everyone
listening to this show.
Speaker 3 (24:26):
Absolutely, and that's why it's important to me with the
right advisor. And you're listening today. You have questions, you
have thoughts. You go to bed at night, you're thinking
about your retirement. Am I going to have enough for retirement?
What kind of income streams am I going to have
in retirement? What's my investments look like? What if the
market goes down and I have to take income from
and how it's it going to affect me? Well, what
about the taxes if I take this income? How much
(24:48):
is going to be taxed? And what about if I
pass away? Is everything to stay in the family and
go to my kids or my wife?
Speaker 2 (24:54):
How is this?
Speaker 3 (24:55):
Are you thinking these things at night? These are the
questions many people have and they just don't have answers.
But if you're listening today, it's a perfect opportunity to
write our number down eight three to three Magi Tax.
Visit our website at Maggi tax dot com, schedule time
to meet with us. We have offices on both sides
of the Bay to help you. Eight three to three
Maggie Tax. And here's another strategy and concept that we use.
Speaker 2 (25:17):
Many people are talking about it, you know right now,
Wroth conversions because they pay the tax now and they
have tax free money later. So just be careful if
you do a Wroth conversion, make sure you do it
the right way and do it from your tax return
so you pay the least amount of taxes. And that's
what we do in Chris. When we do a Roth conversion,
we always show them not just this year, but we
(25:37):
show them two, three, four, five years how to take
that money out, pay the least amount of tax and
then they have tax free money. Isn't that a better way?
Speaker 3 (25:44):
Absolutely? But you can control the tax rate, and that's
what's so important. Like when we ask people how much
do you want to pay in tax and they look
at me like, well, I don't know, but when we
look at it, none exactly. But you mentioned a great
word and great phrase is buying out the irs? Why
not do it now? When is cheaper?
Speaker 2 (26:00):
You buy things?
Speaker 3 (26:01):
You go to the store when and you buy things
why because they're on sale?
Speaker 2 (26:04):
Right?
Speaker 3 (26:05):
So you want to buy a loaf of bread at
a dollar, You're not going to get it anywhere else,
but once it's on sale, you want to buy it.
So that's the whole point. What if taxes rate now
in your retirement is on sale and you can buy
out the irs at a cheaper rate as opposed to
later on which is going to be a lot higher.
Speaker 2 (26:22):
So think about that. What if you do it strategically?
Speaker 3 (26:25):
What if you have a plan, a tax plan, tax planning, planning,
that's what we're talking about here. You need to understand
that planning is not just with your investments. It's about taxes.
It's about income planning as well. What is your plan,
what's your tax plan, what's your investment plan, what's your
income plan? What's your estate plan? If you don't have one,
we can help you eight three three, Maggie tax.
Speaker 2 (26:45):
But one thing before we can help you address this risk.
We must help all of you understand when we talk
about the language, all right, the language of your debt
to the irs, and what strategies you can use to
mitigate the word listen, mitigate mitigate the tax risk. Anyone
talking to you about that, and help you under stand
the language. That's why we say eight three three, Maggie tax.
(27:05):
Give us a call, tell the operator it's urgent. You
want to talk about and use the words. I want
to understand how to mitigate my taxes and I want
to have less tax to pay, and they'll get the
appointment for you, and then we can sit down, like
Chris said, have an adult conversation. And here's how this works.
You tell us your concerns and they will tell you
what we can do. You're going to make the final decision.
You're not pushed into anything. We have clients come in and say, well,
(27:27):
you know, my brokers said, well, my CPA said, why
are you being told to do something without understanding what
to do? Chris? That always confuses me. Well, that's the thing.
Speaker 3 (27:36):
Many people out there been with their advisor five years
or ten years, and they're scared of their advisor. This
is your money, not theirs. It's not our money, it's yours.
This is your planning. Wouldn't you want to get the
right information so you can make the right educated decision
on what you can and can do. Absolutely, but when's
the last class you had on this stuff? When the
people talking about this, when they talk about taxes at
(27:57):
your work or in your retirement community, they're talking about that.
We are we retire each and every day. We do
this each and every day to help you, and that's
what we do. You know, you can use the tax
and mitigation strategies. They are out there, but guess what,
no one's talking to you about it, but we are.
So make sure you pick up the phone, schedule time
to meet with us. Eight three to three, Maggie Tax
(28:19):
And many of you look at your retirement account balances.
It's all you look at. Oh my gosh, there's a
going up. Yeah, it went up ten thousand or one
hundred thousand for the year. But you forget something. You
need to net out the federal government's share. It's like
playing a football game and you're up at halftime and
everything is great, but guess what got You got more
minutes to play and that's when Uncle Sam comes and
he beats you because you got to pay the taxes.
(28:41):
So what are you doing about it? That's what we
can do. So pick up the phone, schedule time to
meet with us. Let's help you diffuse the big tax
time bomb that you have with your investments. Eight three
to three Maggie tax.
Speaker 2 (28:52):
The difference is, Chris. They have a plan. It's called
the government plan. That's right, it's called the plan that
they could do whatever they want. And how would I
say that. It's called legislation at your risk because think
about this. If you have a pencil, hold it up
because it's all written in pencil. They can change your
rules anytime, and they've done that with the R and
D deadlines. What used to be seventy and a half
now seventy two, now seventy three. They've changed that. So
(29:14):
they can change the tax code anytime. You all know this.
I don't have to educate you on that. You see
it every year. Every four years we get an election,
and here's the biggest thing. Everybody's worried about. What's going
to happen in this election. It doesn't make a difference.
It doesn't make a difference because it's going to be
something that we all know is going to happen anyway.
So you have to do some planning, do some proper planning.
Don't look at it from a micro lens, look at
(29:35):
it from a macro lens. Mean maybe your agent has
never said those words to you, because we do. We
understand taxes, we understand income, you have market risk, you
have income risk, you have a tax risk. What else
do we have? What other kind of investment risk? And
are they talking about that? No, So you have to
understand this is what you have to say to an
(29:55):
advisor of what you want. It's your money. So go
to my website. In thirty seconds you can see what
your retirement tax bill is going to look like. Click
on the retirement tax bill, put in your information and
then call me eight three to three Magie Tax and
tell the operator it's urgent that we meet to discuss
your debt to the irs again eight three to three
Magi Tax. And the reason why this is so important
(30:17):
today is because many of you may be overestimating the
amount of spendable retirement income that you have. You think
you have a million dollars, You do not. You have
a half a million dollars. So if you're looking for
ways to communicate the risk, we have an easy solution.
Visit Maggie tax dot com, click on the retirement calculator
and in thirty seconds you're going to see what your
retirement account looks like. And I just want to end
(30:39):
with this because there's a way to address debt that's
far more complete than mister Ramsey's approach. And that's true.
Eight three to three Maggie Tax. Visit our website, Maggie
Tax dot com. T an in tomorrow every Sunday to
walk TV show at ten thirty on ABC TV. We
have a lot of information, a lot of good information
you can go to read three Maggie Tax. Visit Maggie
(31:02):
Tax dot com. You're listening to the Maggie Tax and
Financial Show.
Speaker 1 (31:06):
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 Megan.
Speaker 3 (31:43):
Back.
Speaker 2 (31:43):
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 diverse when it comes to the tax
status of your retirement accounts, that could be exactly what
(32:04):
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 regardless
(32:25):
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 it. 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 where
(34:00):
is 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
could 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 (34:31):
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
a will? And if you're listening right now and you don't,
(34:53):
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. We can
get 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 many of you
listening today are looking at me or listening to me
(35:14):
and going like, no, well, that's why you need to
meet with us eight three to three Maggie Techs. Visit
my website Maggie tax dot com. On the top where
it says seminars, it will 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, because
your advisor is not talking about social security. He's not
(35:37):
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 corgers 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 listening but
they're not doing anything about it. And in a year
(35:58):
from now people are going to go, oh my god,
what am I going to do well. That may be
too late. So that's why we're challenging you. Pick up
the phone eight 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
(36:18):
that doesn't wake them up, I don't know what will. Well,
that's it.
Speaker 3 (36:20):
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 ind taxes
(36:43):
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. Why doing
a state planning, and we have all your accounts, make
sure that they stay in your family and not go
through probate and Uncle Sam. So when you sit down
(37:04):
and you start thinking about what you want in your
retirement plan, pick up the phone, schedule time the need
of us. 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
(37:27):
impact is going 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 Maggi Tax.
Speaker 2 (37:46):
Don't forget. 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
to seventy WFLA. So we're giving you a lot of
help We're trying to make you see it from a
different lens because 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
(38:07):
you're young, old, or 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
(38:29):
on ABC TV to the Maggie Tax and Financial Show.
So pick up the phone, call us at eight three
three Maggie Tax, and be sure to visit Maggie Tax
dot Com. That's eight three three Maggie.
Speaker 1 (38:38):
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 Panela's County. Visit Maggie Tax dot
com or call eight one three three two two twenty
five twenty. That's eight one three three two two t
(39:00):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
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