ANALYZING YOU 401K TAX STATUS AND EVERGREEN COLORADO REAL ESTATE
As the stock market AGAIN, and it’s important to stress again, surpasses 10,000 it’s important to take a serious look at your standing with the IRS. Your 401 or your retirement program is not tax free but only tax deferred. But what does this mean in real dollars and cents when you retire.
When you reach your retirement age, whether you retire or not, you will be required to establish a schedule to start paying the IRS all the deferred taxes you did not pay on your contributions, your employers contributions, and any and all profits in dividends or equity appreciations. You will start paying taxes on all your deferred income at that time and this tax will be added to any new income you may have from working at Wal-Mart or any annuity you have purchased with you tax deferred income.
This will raise you taxable income far beyond your spendable income. So before you go to your grave or even your estate after you go to glory, your Uncle Sam will extract every penny of taxes you have deferred, in compounded income, from your 401k. As you approach your senior years remember the tax man cometh
Please give us a call. We are MARK ENGLISH REAL ESTATE and we are professional EVERGREEN COLORADO REAL ESTATE BROKERS. We have 40 years of experience and know how to protect You and Your financial assets. We are also an EVERGREEN COLORADO CUSTOME HOME BUILDER and can represent you in every transaction from land purchase to complete home. Contact us at 303-674-0148, Email us at markenglishrealestate@msn.com or visit us on the web at www.evergreencoloradoliving.com .
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