January 2017 Edition 
Unlock Your Full Retirement Potential
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The Retirement Tax Trap

Do you understand the differences between taxable and non-taxable retirement alternatives? Understanding how these plans work aids one in finding their financial path to a controlled and predictable retirement future.

Our view is that every client should be aware of the tax structure surrounding retirement plans to ensure awareness of the retirement options, when comparing a Tax-Free Retirement vs. a Taxable Retirement.
2 good reasons to move IRA funds to permanent life insurance

Retirees want guarantees, growth, control, safety, protection, access, liquidity and low taxes. Here's how to do all of that...

A large IRA sounds good, but it may be too much of a good thing. The larger an IRA balance grows, the greater the retirement debt that will be owed in taxes. 

If possible, debt should be eliminated before retirement. The retirees who are debt-free are proud of that fact. To most people, being debt free means having no more home mortgage, having no credit card debt and not owing any money to anyone. But if they have a large IRA or other tax-deferred retirement account, they actually have a looming debt to the IRS. As that IRA grows so does that debt, just like an unpaid credit card, compounding as the account value increases.  
In This Issue

You can claim losses on traditional and Roth IRAs as a miscellaneous itemized deduction, but only in very rare cases.

For Roth IRAs, all accounts must be closed, including those that earned a profit.

Traditional IRAs don't need to be closed and are treated separately. You must show a loss from your tax base to qualify.

Additionally, if you withdrew your money early from a certificate of deposit, IRA or similar account or investment, the penalty you paid could qualify as a tax deduction, even if you don't itemize deductions on your 1040.

Contact your CPA to discuss options available to you.
A note from the Accounting Sleuth:
S&P 500 companies would save $87.1 billion if Trump passes his tax plan

The president-elect realistically could lower the corporate tax rate to 20% from 35%. He might as well just go all the way and dress up as Santa, too, as far as investors are concerned, because he will enter office bearing lots of potentially sweet presents for them. By far the biggest: a huge tax cut for companies. Trump wants to reduce their tax rate to 15% from 35%.
Social Security Planning Workshops

Timing is the key to maximizing   your benefits.
Make the right choice and learn what options  are available to you.

Join us for this educational event:

Tuesday evening at 6:30pm  January 10th in McKinney
 at the John and Judy Gay Library
Thursday evening at 6:30pm  January 12th in Plano
at the Maribelle Davis Library

Register online at
or call  (800) 898-3572 give your RSVP Code 367984