In October of last year, I read an article about the historic tax revenue collected by the US government for 2018. This was accomplished with our income taxes near a historic low.
Unfortunately, another article I just read discusses how our government is also at a historic budget deficit. It is spending way more money than it is collecting. In my opinion, our government’s number one role should be to create a balanced budget first, then move on to the next important project of numerous projects to tackle.
Our government debt keeps increasing (debt ceiling raised again). The US government deficit has drastically increased. We are at a historic tax low. The new tax laws that decreased income taxes for a lot of families and companies will sunset (expire) after 2025. What do you think must happen to your income taxes, less than seven years from now? Are they going to go up or go down?
If your answer is “down,” no point of reading the rest of this snippet; if you think “up,” please keep reading.
Income taxes are on sale right now!
What makes more sense to you? Do nothing. You will get to it later (which can turn in to next year or years later)?
Or create a financial strategy today, to protect your wealth and income from higher taxes tomorrow (potentially way higher taxes)?
One of my mentors last week in a conference call with a handful of the top financial advisors in this country asked us a very powerful question that I like to share with you:
“So much wealth is lost to procrastination. What excuse is good enough for you, to not take the next best step for you, and your family?”
There is a relatively small window of opportunity to take action now. If you’d like my help, please don’t hesitate to give me a call. I love what I do every day: helping clients create financial strategies that will enable them to do more today while simultaneously creating numerous opportunities for a way wealthier tomorrow.