Many IQD holders will make a decision to NOT tax plan for the future and elect to just wait for the RV and pay the applicable federal and state taxes. This could be nearly 50% of your investment. There is nothing wrong about electing to just give up half in taxes, but in most cases the failure to calculate and PAY those taxes when due and owing has a huge penalty. Just ask the majority of the lottery winners.
The ROTH retirement entity is the ONE AND ONLY way to have a completely TAX FREE return on your investment. There are certain requirements that must be met; (5 year aging, 59.5 years of age to withdraw, and populated by active income or rolled over from an existing IRA), but the result is a TAX FREE return. This essentially DOUBLES the gain versus the "FREEDOM TAX"
To reduce Estate taxes, and clarify to your heirs and the IRS, the creation of intentional gifting is paramount to everyone. While the new limits for the Estate tax were recently doubled to $22 million for married filing jointly, completing your desires in written form PRIOR to the RV will assist in long term planning and ease any questions. This needs to be done EVEN if your estate is small.
Another option to be considered in a tax plan regarding the IQD is the CRUT. This is an entity established for the contribution of a gain to be used for charity, OR PERSONAL TAX PROTECTION, when a windfall event happens. The CRUT can be used to invest within tax free environment and share the funds with charities of your own choice,
OR . . .
it can be used to cash in your IQD at your selected available rate and postpone paying the taxes until you receive your distribution as the trustee of the entity. A GREAT TAX PLANNING TOOL!
It's never wise to put all your eggs in one basket. While there are several tax reduction options available, you will want to have some IQD on hand to take care of immediate needs. These may include:
JUST REMEMBER, ANY TIME YOU EXCHANGE YOUR IQD, YOU HAVE A TAXABLE EVENT AT THE HIGHEST RATE.
WHEN the IQD investment comes to fruition, there will be a massive wave of excited investors and MOST will not really be ready. Preparing NOW will avoid the rush and give you . . . .
It is also available at a great price and worth considering as a solid and complete plan for your investment gain.
All information and discussions presented are for educational purposes only, are general in nature, and are not intended as investment, legal or tax advice. Each person’s personal and financial situation is unique and different, and the information provided may not apply to or work effectively for you. By signing up for, and attending or participating in any presentations, you agree that Bob Adams, David Steffensen, Tony Elder, personally, and MaxPlans for Life, Inc., and all affiliate companies, representatives, associates, or employees (“Information Providers”) are hereby held harmless from all liability and loss associated with the information and discussion provided, and as to any action or strategy you may choose to implement with regard to the same. In all events, we encourage you to consult with qualified and independent legal, tax and investment advisors of your choosing as to any idea, strategy, or concept presented herein.
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