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Divorce the IRS: How to Defuse Your Biggest Tax Time Bombs Before You Retire
Your tax-deferred retirement account is a tax time bomb waiting to go off.
401(k)s. IRAs. You think you're saving money on taxes. But what you're probably doing is accepting a loan from the IRS-a loan with terrible terms that will come due when you need your money the most: in retirement!
With traditional retirement plans, the IRS has designed a tax system that entices you to do exactly what it wants you to do: line its coffers with your money. Millions of people end up wishing they had understood the tax traps earlier-only discovering the harsh financial reality when it's far too late.
Don't wait. Understand the IRS tax time bombs now, while there's still time to defuse them.
Divorce the IRS: How to Defuse Your Biggest Tax Time Bombs Before You Retire will show you exactly how to avoid or defuse those time bombs step by step so you can make the rules work in your favor and turn the tables on the IRS.
401(k)s. IRAs. You think you're saving money on taxes. But what you're probably doing is accepting a loan from the IRS-a loan with terrible terms that will come due when you need your money the most: in retirement!
With traditional retirement plans, the IRS has designed a tax system that entices you to do exactly what it wants you to do: line its coffers with your money. Millions of people end up wishing they had understood the tax traps earlier-only discovering the harsh financial reality when it's far too late.
Don't wait. Understand the IRS tax time bombs now, while there's still time to defuse them.
Divorce the IRS: How to Defuse Your Biggest Tax Time Bombs Before You Retire will show you exactly how to avoid or defuse those time bombs step by step so you can make the rules work in your favor and turn the tables on the IRS.
- GenresFinance
200 pages, Paperback
Published April 9, 2021
5 people are currently reading
1177 people want to read
About the author
James G. Miller III
1 book14 followersTaxes are not the most exciting subject, and I never thought I would find myself writing about them, to be honest. They are a part of life, though, and more important than most people realize. We spend so much of our lives working just so we can pay an enormous amount of money to the government in the form of taxes.
As my financial practice and I matured over the years, I found myself working on tax planning more and more often as part of comprehensive planning for my clients. I realized this was one area that could make the biggest difference to my clients or the IRS in obtaining and retaining real wealth, but not both. Each year, I became more frustrated as I met people who would generally seek my counsel only after experiencing one or multiple tax explosions in their lives. It was often too late for them.
I realized my purpose on earth is to try and help people live their best lives through proper financial planning. Keeping your money from the IRS is such a big part of that process.
Introduced to the expat lifestyle early on, I was born in Zambia to an adventurous American couple who traveled the world, as I grew up with a brother and a sister. My parents’ wanderlust rubbed off on me, and I have spent most of my life as an expat now, traveling the world helping other Americans, both in the US and expats, obtain financial independence. I wrote this book in my home office in Moscow, Russia, only four hundred meters from Red Square and the Kremlin. This is just one of my homes and offices worldwide.
My mom’s need to save for the future also rubbed off on me, and I am grateful every day for the time she took to educate me on financial matters from an early age. I didn’t always listen, and I made my fair share of financial mistakes when I was younger, just like everyone does. But she never stopped telling me—and does to this day—how important it is to keep saving money and investing for the future.
My experiences have allowed me to learn not just about the American tax system (which taxes me on my worldwide income regardless of my location since I’m an American citizen) but other tax and financial systems around the world as well. This has given me a unique perspective on wealth and how taxes play into wealth creation and retention globally.
Happily married to a German citizen, Sonja, we have one son, Hendrik, who holds two passports and speaks two languages. We are a typical cross-border family with tax issues spanning multiple borders. We enjoy international travel, sailing, mountaineering, and spending time with those we
consider to be true friends.
As the founder of Baobab Wealth and Baobab Wealth Abroad, I help both Americans and cross-border families around the world create real wealth for themselves and their families in tax-efficient ways so they can maximize their dreams in life and beyond.
As my financial practice and I matured over the years, I found myself working on tax planning more and more often as part of comprehensive planning for my clients. I realized this was one area that could make the biggest difference to my clients or the IRS in obtaining and retaining real wealth, but not both. Each year, I became more frustrated as I met people who would generally seek my counsel only after experiencing one or multiple tax explosions in their lives. It was often too late for them.
I realized my purpose on earth is to try and help people live their best lives through proper financial planning. Keeping your money from the IRS is such a big part of that process.
Introduced to the expat lifestyle early on, I was born in Zambia to an adventurous American couple who traveled the world, as I grew up with a brother and a sister. My parents’ wanderlust rubbed off on me, and I have spent most of my life as an expat now, traveling the world helping other Americans, both in the US and expats, obtain financial independence. I wrote this book in my home office in Moscow, Russia, only four hundred meters from Red Square and the Kremlin. This is just one of my homes and offices worldwide.
My mom’s need to save for the future also rubbed off on me, and I am grateful every day for the time she took to educate me on financial matters from an early age. I didn’t always listen, and I made my fair share of financial mistakes when I was younger, just like everyone does. But she never stopped telling me—and does to this day—how important it is to keep saving money and investing for the future.
My experiences have allowed me to learn not just about the American tax system (which taxes me on my worldwide income regardless of my location since I’m an American citizen) but other tax and financial systems around the world as well. This has given me a unique perspective on wealth and how taxes play into wealth creation and retention globally.
Happily married to a German citizen, Sonja, we have one son, Hendrik, who holds two passports and speaks two languages. We are a typical cross-border family with tax issues spanning multiple borders. We enjoy international travel, sailing, mountaineering, and spending time with those we
consider to be true friends.
As the founder of Baobab Wealth and Baobab Wealth Abroad, I help both Americans and cross-border families around the world create real wealth for themselves and their families in tax-efficient ways so they can maximize their dreams in life and beyond.
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Displaying 1 - 7 of 7 reviews
August 20, 2021
I thought I knew a lot about personal finance and interesting but I learned so much from this book. I had no idea you're required to start withdrawing money from your tax deferred accounts once you turn 72, so the tradition 401k tax savings are literally loans to the IRS! It's well written and each chapter is short and easily digestible. It was written in 2021 so the advice is super current. I was enthusiastically recommended this book by another young professional interested in personal finance and I'm going to begin adding this to my "must reads" list for anyone living in America.
August 9, 2021
This book was awesome. I’ve only been working for 2 years and this book has made me reconsider how I set myself up for retirement. I’ve been on a Personal Finance kick and have started to hear the same trope over and over. However, this book has left me speechless. My mind is blown over the benefits of Roth accounts and the tax strategies around them. I’ve recommended the book to many of my friends already. I’m excited to set myself up for a tax-free retirement!
April 25, 2021
Yes, if you have any concern about taxes in retirement--you need to read this book! The author presents a strong argument in favor of ROTH accounts to lock-in your tax rate now at know, historic lows and prevent paying taxes at unknown, likely higher, rates in the future. I am definitely going to reconsider my retirement savings strategy after reading this.
April 16, 2021
A must-read for anyone serious about planning for their financial future. The book is well-written but easy to understand and really opened my eyes to the various ways the IRS can take my money. I highly recommend you check it out!
April 22, 2021
Highly recommend this book!
Easy to understand - lots of great takeaways and actionables, even though I’m not super knowledgeable on taxes and retirement income planning. Game changing.
Easy to understand - lots of great takeaways and actionables, even though I’m not super knowledgeable on taxes and retirement income planning. Game changing.
August 6, 2021
Fantastic Book! Divorce the IRS should be on everyone's "to read list". It gives practical advice on how to start saving for the future without coming across as "preachy". It is not a thick book; therefore, it gets right to the point without dancing around anything - and makes for a fairly quick read. Those without any financial background will easily be able to follow along. Highly recommend!
May 29, 2025
⭐️⭐️⭐️⭐️
I received an advance review copy for free, and I am leaving this review voluntarily.
I received an advance review copy for free, and I am leaving this review voluntarily.
Displaying 1 - 7 of 7 reviews