Julius Smetona, F.S.A., E.A. discusses the remarkably favorable regulatory environment affecting tax-qualified retirement plans and how small business owners can benefit.

To keep more of what you earn, go to www.desalesassociates.com or call (216) 595-3940….(read more)

LEARN MORE ABOUT: Qualified Retirement Plans

REVEALED: How To Invest During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Tax-Reduction and Retirement Income Update

As the cost of living continues to rise, many retirees are looking for ways to reduce their taxes and maximize their retirement income. The good news is that there are a number of strategies that can help you do just that.

First, it’s important to understand the different types of taxes that you may be subject to in retirement. These include income taxes, capital gains taxes, and estate taxes. Depending on your situation, you may be able to reduce or even eliminate some of these taxes.

For example, if you’re investing in a retirement account such as a 401(k) or IRA, you may be able to take advantage of tax-deferred growth. This means that you won’t be taxed on any of the money you put into the account until you withdraw it. This can be a great way to reduce your taxes and maximize your retirement income.

Another way to reduce taxes is to take advantage of tax credits and deductions. For example, if you’re a senior citizen, you may be eligible for a number of tax credits and deductions. These can help lower your taxable income and reduce the amount of taxes you owe.

Finally, it’s important to stay up to date on the latest tax laws and regulations. The tax code is constantly changing, and it’s important to make sure you’re aware of any new laws or regulations that may affect you. This will help you make sure you’re taking advantage of all the tax breaks and deductions available to you.

By taking the time to understand the different types of taxes you may be subject to in retirement, as well as staying up to date on the latest tax laws and regulations, you can help reduce your taxes and maximize your retirement income. This can help you enjoy a financially secure retirement.