10 Ways to Save More for Retirement and Reduce Your Taxes

by | Nov 10, 2022 | SEP IRA | 4 comments




10 Ways to Save More for Retirement and Reduce Your Taxes. The retirement savings plan strategies are pieces to your financial life that can also help reduce your taxes. You can save smarter for your retirement at any income level while reducing your taxes.

0:00 Intro
0:51 #1. Balancing between the Roth IRA and Traditional IRA
2:16 #2. SEP IRA with employees
3:22 #3. Roth IRA and no RMDs
4:30 #4. 401(k) Contribution limits
5:28 #5. NonDeductible Contribution and Backdoor Roth Conversion
6:30 #6. Municipal Bonds in taxable accounts
6:46 #7. Dividend-paying stocks for favorable tax treatment
7:13 #8. Buy and Hold stocks for long-term capital gains
8:00 #9. Workplace Plan NonDeductible Contribution for Megabackdoor Roth
8:58 #10. Nonqualified Annuity for an income stream

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Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.

TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™

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See also  Backdoor Roth IRA, How to Report a Gain in Traditional IRA on the Form 8606 to IRS?

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4 Comments

  1. Barbara Palache

    Hi Travis,can I contribute to both Roth401k and traditional 401k

  2. ONSITE DRUG AND ALCOHOL TESTING, L.L.C.

    Wish you had a video for slow learners, beginners in all of this retirement plans. Or should I say retirement for dummies video.

  3. Vineel Pusarla

    Hi Travis,
    my llc started in december 2021
    I am not filing taxes and not showing startup expenses for the year 2021 as there is no business activity.
    so can I show start up expenses in my next year tax filing in 2022 taxes?

  4. shhaiwat oum cibian

    thank you for sharing my friend have a good day

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