The weekly email that keeps you up to date on exciting Retirement topics in an enjoyable, entertaining way for free.

Surviving Tax Armageddon

by Eric Seyboldt 

While the UniParty attempts to fund its idea of a Socialist Utopia, the expiration of the Tax Cuts and Jobs Act (TCJA) in 2025 threatens to bring major financial changes and hardships for many Americans whose budgets are already pushed to the limits. This piece explores the significant shifts expected and offers strategic guidance to navigate this impending 'Tax Armageddon.'

Standard Deduction Cut in Half

One major aspect of the TCJA was doubling the standard deduction, which made tax filing easier for millions. When it expires, the standard deduction will return to pre-2018 levels, essentially cutting it in half. This will increase taxable income for many, potentially pushing them into higher tax brackets.

Preparation Strategy: Taxpayers should maximize benefits from the higher standard deduction while it lasts. For instance, accelerate deductions into these final years before 2025. Charitable contributions, medical expenses & other deductible expenses should be front-loaded to take advantage of the current higher deduction.

Return of Personal Exemptions Phaseout

The TCJA had temporarily removed personal exemptions, which allowed taxpayers to deduct a set amount for themselves, their spouses & dependents. These exemptions will return post-2025 along with a phaseout for higher-income earners, reducing their value as income rises.

Preparation Strategy: High-income earners should prepare for the phaseout by exploring tax-advantaged investments & retirement accounts that reduce taxable income. Speak with an advisor at Novus Financial Group to explore your options. Reviewing dependent claims and understanding how the phaseout might affect overall tax liability is crucial.

More Limits on Itemized Deductions

The TCJA capped state and local tax (SALT) deductions & limited mortgage interest deductions. Expiration will reintroduce broader itemized deductions but with stricter limits on certain high-value deductions.

Preparation Strategy: Taxpayers benefiting from itemizing deductions should reassess eligibility & consider if they will fall into standard or itemized deduction categories post-2025. Those with high SALT or mortgage interest deductions should plan for potential reductions in deductibility.

Expansion of Alternative Minimum Tax (AMT)

The AMT ensures high-income earners pay at least a minimum amount of tax and was significantly narrowed under the TCJA. Its expiration means more taxpayers—especially those earning over $200,000 annually—will be affected.

Preparation Strategy: Higher-income individuals should conduct an AMT projection to understand potential liability and may need to adjust income and deductions to minimize AMT exposure. Consulting a tax professional for AMT-specific strategies is advisable.

Estate and Gift Tax Exemption Reverts

The TCJA significantly increased estate & gift tax exemptions, reducing the death taxes, and allowing more wealth transfer without taxes. Post-2025, this exemption reverts back to $5 million, indexed for inflation.

Preparation Strategy: High-net-worth individuals should review estate plans and consider using current higher exemptions before they revert. This might involve making larger gifts now to take advantage of better tax treatment. Estate planning professionals can offer guidance on structuring these transfers effectively.

Other Potential Impacts

Child Tax Credit Reduction: The enhanced child tax credit likely returns to lower levels, affecting families with children.

Preparation Strategy: Families should consider timing their claims & any changes in eligibility under new rules.

Higher Marginal Tax Rates: The TCJA lowered individual income taxes across the board; its expiration means rates will increase.

Preparation Strategy: Plan for higher rates by deferring income if possible and accelerating deductions. Investments in tax-deferred accounts like 401(k)s and IRAs can help mitigate the impacts of higher rates.

Changes in Corporate Tax Rates: Primarily affecting businesses but also investors with significant corporate stakes.

Preparation Strategy: Review portfolios focusing on tax efficiency, possibly rebalancing to minimize taxable events.

The TCJA’s expiration signals a significant shift in taxes with wide-reaching impacts for many Americans. Understanding these changes and taking proactive steps now can better prepare taxpayers for future challenges and opportunities ahead. Consulting with tax professionals & financial advisors is essential to navigate this complex transition effectively.

Reach out to us for a complimentary, 10-minute consultation call. Let's explore together how we can help you protect your assets, ensuring your golden years are as fulfilling and worry-free as you’ve always imagined. Email Eric at [email protected] or give us a call today to schedule your consultation. Let's make your retirement dreams a reality!

Unearth Top Bourbon Investment Funds with Andrew: Join the Whiskey Boom! 

by Andrew Newby

Top Bourbon Investment Funds

Welcome, Bourbon enthusiasts and investors! We are back with more exciting insights into the tantalizing world of Bourbon investments. Today, we are taking a deep dive into the essence of our Top Bourbon Investment Funds, namely our 3-Year Whiskey Equity Investment Trust (WEIT) Fund and the 10-Year WEIT Fund.

Now, let's start with our delightful 3-Year WEIT Fund. Designed as a short-term investment option, this fund offers you a golden opportunity to reap the benefits of the burgeoning straight Bourbon market. The fund focuses on a quick turnaround, with the capital targeting rapid growth within a period of 3 years.

Imagine being a part of a fund that benefits directly from the bountiful cornfields of the Midwest, the lifeblood of Bourbon production. Think of the 3-Year WEIT Fund as your ticket to join the vibrant Bourbon boom, without the need to wait for a decade to see the fruits of your investment.

Switching gears, let's now meander over to our 10-Year WEIT Fund. This fund is designed as an evergreen, self-renewing income fund. It's perfect for investors who appreciate the longer, mellower maturation process of Bourbon, much like the drink itself.

The 10-Year WEIT Fund provides sustained returns over a longer period, allowing you to enjoy the fruits of your investment year after year. It reflects the essence of Bourbon making—patience, consistency, and timeless charm. By investing in the 10-Year WEIT Fund, you're not just investing in Bourbon; you're investing in a continuous, self-renewing stream of income.

So, there you have it, Bourbon lovers and financial savants. Two stellar investment options, each with its unique flavor and charm, just like our beloved Bourbon. Whether you prefer the rapid crescendo of the 3-Year WEIT Fund or the slow, consistent rhythm of the 10-Year WEIT Fund, the choice is yours. Both promise to offer an immersive journey into the heartland of Bourbon, replete with financial rewards and an enriching, educational experience.

Stay tuned for more exhilarating dives into the world of Bourbon investments. Until next time, remember, it's more than just Bourbon. It's an investment in tradition, taste, and time!

About the Author

Andrew Newby

Andrew is a passionate entrepreneur and experienced tech strategist with a deep love for the Bourbon industry. As the CEO of The Bourbon Reserve, he leads the charge in navigating the exciting world of Bourbon investments. Andrew's entrepreneurial spirit extends to co-founding The Toledo Spirits Co. and HEAVY Beer Co., where he has played an instrumental role in their growth and success. Alongside his ventures in the spirits industry, Andrew boasts a strong background in software product development, making him a versatile leader in both the Bourbon and tech worlds.

Fixed annuities can be an essential component of a well-rounded retirement strategy, offering security, predictability, and efficiency in financial planning.

Here are current fixed annuity rates and their durations from Top A-rated carriers (subject to change at any time, not FDIC insured):

Rates Getting Shaky! Don’t Wait To Lock Them In!

3-year: 5.50% (under $100k Deposited)

3-year: 5.85% (over $100k Deposited)

5-year: 5.95% (under $100k Deposited)

5-year: 6.30% (over $100k Deposited)

Please feel free to email Eric at [email protected] if you’d like to ask any questions or request information on these fixed annuities or other retirement topics that are on your mind.

REAL ASSETS, Invest Like the Ultra-Wealthy 

Have You Called Us Yet to Explore Gold or Bourbon as an Accumulation Tool?

In these shaky economic times, more and more clever investors are leaning towards tangible assets to guard their retirement savings. Things like physical gold or even unique choices like barrels of Bourbon are hugely popular these days. These Real Assets act as a shield during money printing and inflation times & can be great for diversifying even when things are calm.

Over the years, Real Assets have done better than other investments when the economy takes a hit. They’re a sturdy hedge against potential crises. If you want a steady financial future, tossing some Real Assets into your portfolio might be smart and profitable.

With the current economic ups and downs, investing in Real Assets could really help stabilize your financial plan. Curious about how these physical investments can give your portfolio a boost? Let’s chat & set up a foundation for a secure and bright retirement!

Allocating funds into the asset class known as “Real Assets” may be a strategy that you should consider.

Ask us how to Rollover a portion of Your IRA or 401k To A BOURBON IRA (www.bourbon.fund/how-it-works/) or a GOLD IRA (see link below) and:

• Safeguard your assets from the collapsing dollar

• Incorporate the ‘REAL ASSET’ class into your portfolio like the ultra-wealthy

• Hedge against the current high-inflation conditions

• Protect your retirement assets against economic crises

Just get in touch. We make it easier than ever.

Feedback or Questions?

You’re invited to get in touch with us if you’d like to find out how the Novus Financial Group can help you on your journey to a happy, fulfilling life in Retirement. 

We have a lot of great information, as well as podcasts from our radio show ‘The Financial Insider’, and tools on our website - www.novusfg.com.

[email protected] www.novusfg.com [email protected]

Office: 614-943-2265

Feel Free To Forward Retirement Examined To A Friend and Have Them Subscribe By Clicking The Button Below:

Reach out if you’d like to advertise your business on Retirement Examined or would like to be a sponsor.

Investment advisory services are offered by duly registered individuals on behalf of CreativeOne Wealth, LLC a Registered Investment Adviser. CreativeOne Wealth, LLC and Novus Financial Group are unaffiliated entities.

The content we provide here isn’t financial advice and cannot be taken as such. Please speak to your financial advisor before making any investment decision. Also, note that every investment comes with its risks and drawbacks. Lastly, we would like to remind you that past results cannot guarantee future returns.

This website contains one affiliate link. When you click on the link and make a purchase, we may receive a commission at no additional cost to you. We only promote companies that we have personally used or researched and believe will add value to our readers