Texas, Washington and One Year discussed on The Money Hour Radio

Automatic TRANSCRIPT

Yeah i mean there's a lot of good opportunities here that you don't wanna miss or at least investigate if it helps you so here's the thing i think everybody's mentioned it at least once during the segment today is texas can go back up i mean they're even designed right now that you know they're going to be sunsetting anyway so if we get a change in administration in washington and the national debt keeps going up right now seats exceeding twenty trillion and there's no end to deficits incite you can probably bet they're going to have to raise taxes in the future so with these current low tax rates this might be the lowest will ever see again and it could be a once in a lifetime opportunity to at least take a look and see if these roth conversions could potentially help you once again we're not saying do it all in one year because a lot of times if you have a big account that can throw you a much higher tax bracket but you know a ticket trunk each year over a few years and it could be a wonderful fraternity yet you know the guys because i know everybody around this table is a financial planner but we all know from doing this for years there's a lot of money left on the table by retirees or people close to retirement just by not understanding simple strategies like taking advantage of the new tax law to convert at a really cheap tax price like this yeah and remember guys like that sounds good you're listening out there just don't go run out and do it because if you do roth conversion you can't change your mind and undo it like you could in the past that is one of the laws they changed with this new tax law so you need an expert a professional somebody like us who's going to take a look at your whole situation and kind of guide you through this process and also the on your income each year because if all of a sudden you aren't a scenario where you have a year with additional income not enough deductions maybe and it pushes you in a higher tax bracket maybe that wouldn't convert as much.

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