In the example below this client is taking money from their IRA’s. They would like to take more money and pay less income tax. This dilemma hits taxpayers each and every tax year.

Taking More Money from Your IRA While Paying Less Income Tax Example

Old Tax Return                                                                                     New Tax Return

$10,000                                    Interest Income                                    $ 0

$10,000                                    Dividend Income                                  $ 0

$10,000                                   Capital Gain Distributions                     $ 0

$5,000                                      IRA Distributions                                  $ 10,000

$20,000                                    Pension                                                $ 20,000

$17,000                                   Taxable Social Security                        $ 4,000

 (Social Security Received $20,000)

$72,000                                   Total Taxable Income                           $ 34,000

$8,321                                     Total Income Tax                                  $ 2,156

Tax Savings                                    $6,165

Would you like a better way to take money from your IRA’s and reduce your income tax bill? Call 610-945-1954 today!

If you fill-in the Tax Reduction Summary Form today, you will receive a Free personalized 30 minute Tax Reduction Summary Report which is valued at $750. It will show you specific ways to reduce your tax bill by thousands of dollars each year or more! And that includes the tax on your social security benefits.

For more information, call 610-945-1954 today! If you are an individual or business owner earning over $200,000 or are married and earning over 250,000, President Obama has a new tax plan for you and it’s not going to lower taxes!

Every day you wait; will cost you more and more in income taxes for 2012 and beyond.  Don’t procrastinate, fill-in the Tax Reduction Summary form today to see how much you can save on your taxes.