Feature Image

Episode 16 – Immediate Tax Increase Being Planned



Under the new Administration, there are proposed tax increases under review in Washington, and it’s beneficial if you understand them sooner rather than later! 

In this episode, Barry Watts and Eric Burlison discuss various proposals that have been presented by the Biden Administration that could potentially increase your taxes. Barry and Eric highlight three of these proposals and help you understand just what they mean and how you can prepare for these changes.  

In this episode we discuss:

  • The elimination of the step-up basis 
  • How Social Security will be impacted by these proposed increases
  • How taxes will increase for corporations and high-earning individuals
  • What the changes could mean for the country and you 
  • And more!

Tune in now to understand current tax proposals and how you can prepare for them. 

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison


Feature Image

Episode 15 – Getting More Money into Tax Free Accounts



When it comes to your money, it is important to have the right amount in each bucket so you can hold the most amount of non-taxable money. 

In this episode, Barry Watts dives into conversation about the three buckets your money could fall into, what taxes look like in each bucket, and just how much money you want to keep in each bucket. 

In this episode we discuss:

  • What each of the three buckets are and what they’re used for
  • The tax situation in the three buckets 
  • How much money you should be holding in each bucket 
  • And more!

Tune in now to learn about tax-free accounts and how you could be moving your money around to save on taxes! 

Resources: SavingYouTaxes.com | J. Barry Watts | The LIRP Account Podcast 


Feature Image

Episode 14 – How to Have More Tax Free Income in Retirement



Are you interested in a tax-free account that will help you work towards your retirement goals? 

In this episode, Barry Watts and Eric Burlison, Tax Strategists and Retirement Designers,  take a look at a type account that not many people are aware of and dissect it to help you fully grasp how it works! The Life Insurance Retirement Plan (LIRP) can help you save tax free money for your retirement goals! 

In this episode we discuss:

  • How the tax code is our friend, not our enemy  
  • How the LIRP works 
  • Barry’s own personal use of an LIRP 
  • Contributions and fees associated with an LIRP 
  • And more!

Tune in now to discover how you could be setting money into a tax-free account and get on the right track toward your retirement goals 

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison


Feature Image

Episode 13 – Protecting Your Retirement Income



Do you understand how annuities work? Do you have negative feelings attached to annuities? We are here to help you answer your questions! 

In this episode, Barry Watts and Eric Burlison dive into conversations about annuities and how they can be used to benefit you. They aim to provide you with information that will help you break down your negative feelings toward annuities! 

In this episode we discuss:

  • The three different types of annuities  
  • How taxes work when it comes to annuities 
  • The typical lengths of annuity contracts 
  • Safety when it comes to annuities  
  • And more!

Tune in now and join us in conversation as we break down annuities and provide you with information that will help you understand them better. 

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison

 


Feature Image

Episode 12 – The Right Faucet to Fill your Retirement Bucket



Have you ever wondered what someone in the financial industry does with their own accounts? 

In this episode, Barry Watts and Eric Burlison discuss Barry’s experience in the financial industry and Barry shares some of the things he does personally to get the most out of his own accounts while protecting his assets from the downside.

In this episode we discuss:

  • How money managers get paid 
  • Why money managers attempt to mimic the S&P 500 or another index.
  • A simple tool to figure out how fast your money will grow: The Rule of 72 
  • Barry’s personal experience as an investor
  • And more!

Tune in now as Barry uncovers the rules he lives by personally in order to achieve the best performance on his own accounts. 

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison


Feature Image

Episode 11 – Stop Leaking Money from your Retirement Accounts



Trying to fill a bucket that has holes in it is impossible and extremely frustrating.

In this episode, Barry Watts and Eric Burlison discuss how your financial bucket is constantly leaking through four main holes, and what you can do to address and fix each of them.

In this episode we will discuss:

  • What the four main holes in your financial bucket are
  • How taxes can empty your bucket
  • Fees that make it harder to fill your bucket
  • Market risk tools that can be used to stop a leak
  • Health care as a hole in your bucket
  • And more!

Tune in now to discover how you can plan to stop your bucket from leaking! 

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison


Feature Image

Episode 10 – Climbing the Summit of Mt. Retirement



Retirement is like a mountain and it’s the coming down the mountain that is the scary part. 

In this episode, Barry Watts and Eric Burlison discuss how your retirement is like climbing and descending a mountain, and what you should be doing to plan for that journey. 

In this episode you will learn:

  • Why retirement is like a mountain — especially as you’re planning and saving 
  • The two methods of planning for retirement
  • How we can help you reduce taxes in retirement
  • And more!

Tune in now to discover how you can plan your climb and descent of Mt. Retirement for a successful trip!

Resources: SavingYouTaxes.com | J. Barry Watts | Eric Burlison


Feature Image

Episode 9 – Reducing Taxes via the Installment Sale Rule – with Bruce Jones



Ready to sell a highly appreciated asset, but worried about your tax bill? 

In this episode, Barry Watts and Eric Burlison are joined by tax strategist Bruce Jones of Tax Wealth. Having been in the financial industry for nearly 50 years, Bruce shares his expertise on mitigating your taxes when it comes to selling highly appreciated assets.

In this episode you will learn:

  • The two things you can do with your taxes to save you money
  • The process of mitigating tax from a client with big capital gain
  • How the deferral approach works in tax planning
  • What the are two financial instruments and principles 
  • The risks involved with tax planning
  • And more!

Tune in to discover how you can mitigate your tax bills with Bruce Jones! 

Resources: SavingYouTaxes.com | J. Barry Watts


Feature Image

Episode 8 – Why don’t you have a tax deductible Segregated Asset Plan?



Business owners: how would you like to put away six figures and get a tax deduction for doing so? 

In this episode, J. Barry Watts dives into segregated asset plans (SAPs), revealing the tax and financial savings you could gain as a business owner for retirement. Discover how your entire family can benefit from this type of plan and the incredibly low tax rate that comes with it.

In this episode, you will learn:

  • What an SAP is and how you can take advantage as a business owner
  • How an SAP could benefit your business
  • How your taxes could be reduced if you utilize an SAP
  • The benefits for your family and your business
  • And more!

Tune in to discover the details of SAPs and how they could save you huge money in taxes!

Resources: SavingYouTaxes.com | J. Barry Watts 


Feature Image

Episode 7 – The Insider’s Guide to Big Retirement Tax Deductions for Business Owners



Would you like to be able to make a hefty tax deductible contribution to your retirement plan this year? 

Today, Barry Watts and Eric Burlison discuss tax deductions, introducing many ideas and processes when it comes to putting money into your own plan as a business owner. 

In this episode you will learn:

  • What a tax credit is and how it differs from a tax deduction
  • The different types of retirement planning
  • What a cash balance pension plan is and how it works
  • The difference between a defined benefit plan and a defined contribution plan
  • And more!

Tune in to discover how you can receive big deductions when putting money into your own retirement plan as a business owner! 

Resources: SavingYouTaxes.com | J. Barry Watts