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