Stick It to the Taxman

It is still important for seniors to understand the tax code in retirement. In fact, it's more important than ever. Here are some resources that will help you stick it to the taxman. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [Browser View]( [Wealthy Retirement]( Stick It to the Taxman Kristin Orman, Research Director, The Oxford Club [Sliced Up Dollar Bills]([New Law Could "Reduce the Value of All Retirement Accounts"!]( A Wall Street Journal writer said this bill "would actually reduce the value of all retirement savings plans: IRAs, 401(k)s, Roth IRAs, the works." [Click here to learn more.](  Editor's Note: Today, Kristin shares some startling trends about filing your taxes... And seeing as how many of us are still shuffling through a sea of W-2s and 1099s, her observations - and the resources she provides - couldn't be timed better. In addition, a recent bill passed silently in both the House and the Senate has made tax season even more ruthless than it was before. The Wall Street Journal reports that it will "reduce the value of all retirement savings accounts." Marc considers it outright theft. [Click here]( to discover what it means for your retirement - and how to build what Marc calls an "IRS-proof retirement account." The taxman will only get wilier and more creative as time goes on and more savings-draining laws like these get passed. Start protecting your wealth now. - Mable Buchanan, Assistant Managing Editor ---------------------------------------------------------------  [Kristin Orman]  One of the benefits of retirement is that you get to stop doing many of the activities you enjoy the least. Quitting work is the most obvious relief for many seniors. Many retirees also enjoy sleeping in every morning, avoiding rush-hour traffic, and exchanging their monkey suits for flip-flops and Bermuda shorts. Unfortunately, retirement doesn't end all of life's unsavory responsibilities. Nearly all retirees still have to pay taxes.  Uncle Sam still expects his quarterly or annual handout. And if you're not careful, you could wind up paying more in taxes than you have to. That's why retirees must understand the retirement tax code: Keep more of your hard-earned money for yourself. Retirement tax planning is just as important as saving when it comes to maintaining a wealthy retirement. Unfortunately, too many people skip this crucial step. The biggest reason is that most Americans don't fully comprehend the retirement tax code. In a Wealthy Retirement survey, more than 45% of respondents said that they're knowledgeable or extremely knowledgeable about how taxes affect their retirement income, while nearly 34% said they're somewhat knowledgeable. Disturbingly, about 21% of respondents said they aren't knowledgeable at all.  [Knowledge About Taxes Chart]  So what do the results of our survey mean? Well, most of our readers need help dealing with the taxman after retiring. Unfortunately, most of them aren't getting it.  ["The Lifeblood of the New Economy" Is in Her Hand...]( [Woman Looking at Phone](The technology in this device is on track to create 3 million new jobs... Contribute $275 billion in new investments... Add $500 billion to the economy... And mint more millionaires than any invention in history. [Here's how you can become one of them]( (starting with just $7!).  The results of our survey showed that more than 60% of respondents get no help with their retirement tax planning. They're dealing with their retirement tax consequences on their own. Just 16% get help from an accountant or tax advisor, while nearly 17% rely on a financial advisor.  [Help With Tax Planning Chart]  That's too bad. There's a good chance that many of them are paying more than their fair share of taxes. Cutting costs like your tax expense is one of the easiest ways to pad your retirement nest egg. Luckily, help is just a click away. Wealthy Retirement's Chief Income Strategist Marc Lichtenfeld has developed a video series called [Sticking It to the Tax Man](. It's designed to help you save money on your income taxes before and after you retire. In his first episode, Marc will show you a little-known strategy for getting the IRS to actually pay you to save money. In [this short, five-minute video](, you'll learn how to claim your "Saver's Credit." And this is just the first video in Marc's five-part Sticking It to the Tax Man series. To ensure you don't miss the rest of the series, [subscribe to our YouTube channel here](. It pays to understand the tax code before it's time to file. Sure, it's a little complex, but there may be a number of loopholes and credits available to you that could easily add up to thousands of dollars. You don't want to miss out. Taking steps to maximize your tax efficiency today will lead to an even wealthier retirement tomorrow. Good investing, Kristin P.S. The Sticking It to the Tax Man series helps make understanding taxes simple, quick and effective - but it's just the tip of the iceberg when it comes to really stiff-arming Uncle Sam. Saving on your taxes has gotten trickier than ever before - especially with the passing of [this destructive law]( in both the House and the Senate. This law gives the government more power than ever before to take your savings - even if you've played by the rules all these years. [Click here]( to learn how you can fight back.  [Click Here to Comment](  [Tea Cup](  [The P-E-R-F-E-C-T Drink]( A simple, three-ingredient drink is stunning doctors. It blasts away cancer, inflammation, Alzheimer's, high blood pressure... and even erectile dysfunction. One glass of this delicious drink each morning is all it takes. 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