The ESOP Tax Surprise: Tax Tips You Need to Know to Save on Future Taxes!

Employee Stock Ownership Plans (ESOPs) offer a unique way for employees to own a piece of the company they work for. While this can be a great way to build wealth, many people are unaware of the potential tax surprise that comes with these plans. In this video, we will use a hypothetical case to take a deep dive into ESOP planning.

Scott will unravel the complexities of ESOPs and how they can lead to unexpected tax burdens in retirement, and you’ll learn about strategies to mitigate these tax impacts, including Roth conversions, utilizing Health Savings Accounts (HSAs), and the importance of early planning.

Here’s some of what we discuss in this episode:
0:00 – Intro
1:30 – Steve & Sue Sample’s background
3:30 – ESOP plan details
5:58 – Tax Implications
8:57 – Tax projections & surprise
13:43 – RMD income
16:30 – Potential tax strategies
18:38 – Considerations for an early retirement

Check out this video for more Social Security planning strategies:    • Retiring at 62 with $1.5 Million:  Wh...  

Begin the 'Max My Retirement' Gameplan here: https://sierensfinancialgroup.com/wor...

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