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Tuesdays with Morey - Tax Tips®

Tuesdays with Morey Tax Tips provides Tax Tips for people living and or working outside of the United States. These are citizens of the United States that live or work outside of the country and need valuable information on items concerned with filing their United States Tax Returns. Tuesdays with Morey Tax Tips includes information such as off-shore banking accounts and the requirements for filing and declaring these off-shore accounts. Tuesdays with Morey Tax Tips adds great value to those who are still confused on their tax obligations when living or operating a business off-shore.
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Tuesdays with Morey - Tax Tips®
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Sep 20, 2016

Planning for your retirement can be time-consuming and difficult if you are not an expert on the savings plans available. There are 401(k) plans, profit sharing plans, IRAs and others. The trick is to understand the requirements and benefits each plan offers. Some will allow you to borrow money from yourself to buy cars or international real estate. The loan will be with yourself and you pay yourself back the interest and your taxes are lower. In order to realize the benefits of retirement plans, you must sign up by the end of the current tax year which is December 31, 2016. Don’t delay, save money today.

 

Key Takeaways:

[1:17] Planning for your retirement before the end of the year.

[2:30] 401(k) profit sharing plans allow for savings up to 25% of annual compensation.

[4:15] There are many different savings vehicles to consider when planning for your retirement.

[7:19] Combination plans offer diversity for your investments.

[9:30] Retirement plan accounts must be open prior to December 31, 2016.

[10:10] You can borrow money from your 401(k) account to buy properties.

[13:23] It doesn’t matter if you have bad credit because you are giving the loan to yourself.

[14:21] Planning can help you avoid paying the highest tax rates.

[17:16] Will tax rates be lower in 2017?

[18:05] Increasing your net worth is the goal of financial planning.

[19:57] Morey is working on an international radio series.

[21:00] The stock market has been inflated up to 300%.

 

Mentioned in This Episode:

Glazer Financial Network

Email Macarena: macarenarose@gmail.com

Tuesdays with Morey on Facebook

Expat Tax Expert

Email Glazer Financial: mglazer@glazerfinancial.com

MacarenaRose.com

Rainforest Realty

 

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