Monday, April 19, 2010

1 Step to Paying ZERO Income Tax

1 Step to Paying ZERO Income Tax

Last Thursday being April 15, one expected to hear a lot of “tax-talk,” but the gist of this year’s tax conversation was particularly interesting and striking to me in two ways.

First, there were a number of anti-tax protests. Second, the majority – and I mean the overwhelming majority of the protesters I saw on TV – appeared to be retired Americans. As I gathered from their placards and some brief comments/interviews, they are basically “sick of being taxed to death by Uncle Sam” and are therefore demanding everything from lower taxes to a complete elimination of taxes. Well, who wouldn't love that?

Although I cannot say for sure that this approach will fail to achieve its intended result, it is fair to say that it is probably naive to believe or expect the U.S. government to significantly reduce our tax burden anytime soon. Fact is, any expert in this field of tax/budget deficits will tell you that, given our present fiscal condition as a nation, taxes are headed up, not down.

What if I told you I have the ONLY perfectly legal way to end these retirees' income tax problems? No kidding!

The simple, sensible, and legal way to fix the issue is to eliminate all income that is considered “taxable” by the IRS. I did not say have no income. I said, make sure your income is NONTAXABLE. I have met retirees bringing in about $40,000 per year who complain about taxes – and rightly so. But I also know retirees (clients of ours) who draw significantly higher incomes per year, completely income-tax free! The amazing thing is that they both live in the same zip code. Interesting, isn’t it?

The IRS puts out a document called Publication 525: Taxable and Nontaxable Income. Why do you think it is so-named? The only logical and factual answer is because there is such thing as “income that is not taxable.” In other words, if your income comes from those sources, your income tax rate is legally zero. Voila – problem solved!

It is very sad but true that millions of Americans waste years of hard work following so-called financial and tax gurus who, in my opinion, are completely out of touch with reality and frankly don’t know what the heck they are doing. What is most troubling is that in real life, the overwhelming majority of retirees earn significantly less than they did during their working years, yet they pay much more in income-taxes. And the situation worsens with each passing year. If I had my way, I would tell those retirees to protest their so-called advisors for failing to help them turn their income sources into what the IRS deems “NONTAXABLE.”

Isn't it ironic that the very same tax code that some absolutely hate provides completely income-tax free options? And the last time I checked – just three minutes ago – we still have freedom of choice regarding where we invest our retirement assets, which ultimately determines whether we get taxed or not.

Please pay close attention and follow savvy retirement planning professionals like the guys and gals at Laser Financial Group because it absolutely pays huge dividends.
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Please contact Laser Financial Group today for your complimentary consultation to begin the process of making your income "nontaxable." 301-949-4449 or laserfg.com.

3 comments:

  1. Samuel -

    You did a very nice job of pointing out the protests without taking sides. You're always a pro at staying neutral!

    Laura

    ReplyDelete
  2. Thank you! Laura -

    Our goal here at Laser FG is to help people take care of their retirement-financial needs. We are always focused on pointing out proven, actionable, factual, and common sense ideas.

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