The Tax Bomb In Your Retirement Accounts: How The Roth IRA Helps You Avoid It

by Josh Scandlen

John and Judy are in the 12% tax bracket. But when they took $10k from their IRA they had a 50% tax increase. Why? When John died Judy’s income went down by 33% but her taxes went UP! Why? Isn’t interest on municipal bonds tax free? Then why did it cause John and Judy’s taxes to increase? When Judy took out $20k to take her daughter on a cruise it cost her $9,908 in taxes. Yet when Jane did the same it cost her nothing. And they both have $80k in total income. Why? When Bob took out $10,000 from his IRA his taxes tripled. Why? Why did Bob’s Medicare premiums nearly double when he took out an extra $10k from his IRA? When Jenny, a divorced gas station attendant making $35k a year inherited an IRA from her mom she lost 25% in Federal Taxes. Why? In this book we’re not only going to answer these questions but we’re also going to show you what you should be doing NOW to avoid the stealth tax increases retirees face but are ignorant of...until it's too late.

79 pages, Kindle Edition

Published July 15, 2018

Reviews

[Francis A. Ford · Rating 5 out of 5]

Easy to understand and read

I took my time going through this book and read several chapters or sections of chapters more than once. Despite the multiple readings I was still able to finish the book in about 90 minutes. In my opinion, what you learn, or re-learn, from spending an hour and a half is worth its weight in gold.
An extremely valuable income and estate tax planning tool. I highly recommend Josh Scandlen’s “The Tax Bomb in Your Retirement Account” for workers and taxpayers of all ages.

[Alvin · Rating 3 out of 5]

A brief work extoling the virtures of Roth IRA. Covers many of the advantages and highlights other issues (such as financial aid for college students) that one should know.

Unfortunately, he wrote the book in 2018 and the 2019 tax law overhaul altered some tax consequences. So beware of changing tax law.

Perhaps he will update in the future.

[DANIEL OSARO · Rating 5 out of 5]

Great Escape

This is a huge financial revelation for the bold,patient and organized.
Start early with organizing your finances.
Take advantage of the provisions IRS has provided for the informed.
Don’t mess with Roth-IRA.Be friends with Roth-IRA.

[Steve R · Rating 5 out of 5]

clear and compact

A very quick read that clearly makes the case for Roth IRAs, not just from a tax-now-vs-tax-later perspective but from estate planning, social security tax minimization, Medicare IRMAA minimization perspectives as well. Definitely worth reading.

[Bill Wright · Rating 5 out of 5]

straight to the point

This is an example driven book that is even to follow and adjust the examples to your personal situation. The survivor information was really valuable to me because I didn’t run those scenarios in regards to ROTH conversions

[Paul Calhoun · Rating 5 out of 5]

Easy to understand. Make a lot of good points.

[Donna Ruiz · Rating 5 out of 5]

Easy read and helpful to understand.

[Brittany Phillips · Rating 5 out of 5]

Amazing

Couldn’t stop reading! Makes so much sense! I’m going to rethink my investments now. Thank you! I’m going to watch your YouTube channel now.

[LuluD · Rating 5 out of 5]

Great advice for retirement p!anning

Learned alot about Roth and traditional IRA

Basically if u can convert to Roth or from traditional do so.

But situations may vary

[Merrylass · Rating 3 out of 5]

Educational

The Roth IRA isn’t a part of my retirement plan but I am looking at including it in the future.

[Dianne Tidd · Rating 5 out of 5]

Excellent

Excellent read. Very informational. Can’t wait to read the next book. I’m really interested in the new book coming “ Wellington”.