Fully UPDATED for 2022 with the NEW TAX LAWS, TAX TABLES, and the SECURE Act.
Mark J. Orr has been a practicing Certified Financial Planner(TM) (CFP(R)) since July 2000 for clients across the country and has also earned the RICP(R) designation (Retirement Income Certified Professional).
His financial planning practice is centered on the firm beliefs that 1) people should not pay a dime more in taxes than the law requires... 2) nor should they take an ounce more risk than they need to in order to reach their financial goals.
Get Me to ZERO(TM) describes seven synergistic tax strategies to help Americans legally get their future assets and cash-flow off the IRS's radar screen and pay as little as ZERO income taxes during retirement - while simultaneously slashing their investment risks. This book fully explains how implementing these proven 7 tax strategies can offer up to 20%-40% more spendable retirement income than traditional 401Ks, TSPs, 403Bs and IRAs.
Judge Learned Hand said, "Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."
That, in a nutshell, is the legal basis for the Get Me to ZERO(TM) strategy - proactively and systematically arranging our financial affairs so that our future income taxes will be as low as possible. The whole aim of the Get Me to ZERO(TM) strategy is to make as much of your retirement cash-flow legally "invisible" to the IRS using the full tax code. And the more sources of "invisible" retirement cash-flow - the better.
This book is not about tax loopholes! Author Tom Wheelwright, CPA says, "After all, the tax law is really a map - a treasure map. As you follow this map, your taxes go down." If we can't eliminate future income taxes in retirement, we at least want to minimize them by becoming fully informed and proactively using the tax code as it is written and intended. Using the letter and the spirit of our current and longstanding tax laws for future legal "tax avoidance"... NOT "tax evasion" is simply being tax savvy. Whose retirement are you planning for, YOURS... OR Uncle Sams?
Wall Street doesn't like the TRIPLE ZERO(TM) plan at all, nor they have embraced ROTH conversions (or even ROTH contributions). Why doesn't Wall Street like ROTH conversions? Because when you convert a traditional IRA to a ROTH, income taxes get paid to the IRS and perhaps your state. That reduces the amount left that Wall Street (your broker or advisor) can make money on (fees and commissions). ROTH conversions give them a 20%-45% pay cut!
Showing people how to implement a holistic and comprehensive planning approach that employs several tax diverse strategies to help people become more financially confident and secure today while preparing for an extraordinary retirement is the primary goal of this book. Does your current retirement planning include future income tax planning? Do you have a tax-savvy exit strategy for your traditional retirement investments, so you can spend and enjoy more of your hard-earned savings... and pay the IRS less?
A quick look at the Table of Contents and reading the first few pages ought to give you a good idea if this book should be on your reading list. It certainly should be if you would like to reduce your taxes in retirement to the lowest amount allowed by law, avoid taxation of your Social Security and enhance you're your overall financial position both today and tomorrow. Pay the IRS less. Keep more and have a better life!
