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Is it Possible to Never Pay Taxes Again?

| June 18, 2018

There are seasons for everything in life. You can either let them pass you by or you can thrive in them. Now is the season for planning. Tax Reform has opened doors that we - and perhaps even our children - may never see again in our lifetimes…And it won’t last long. Remember—there is an end date to almost every piece this legislation that passed. At best you only have a few years, and in some cases only this year, to seize the opportunities Uncle Sam has provided you.

Can you imagine never paying income taxes again? Or what if you could just cut your tax bill in half for the rest of your life? Or what if you could only find some money you don’t have to pay Uncle Sam taxes on over the next few years? Would a little planning hurt too much to find out?

We have been working up a storm for the past several months building plans just like these. We built a plan to never pay income taxes again unless, of course, a windfall occurs or the tax system has a drastic overhaul. We built a plan that cuts Uncle Sam’s bill in half for not only one lifetime, but for the next generation’s lifetime and perhaps even the next. We built a plan that took a six figure tax liability down to a single figure tax liability. And I don’t think any of these families are wishing they didn’t take the time to come see us.

Not sure if you are a candidate to save money? Ask yourself these questions, and if the answer to ANY ONE of them is “yes”…well, it’s worth a look.

  1. Do you have or will you have a large retirement plan (401k, IRA, 457, 403(b))?
  2. Do you have highly appreciated property, stocks, mutual funds or exchange traded funds?
  3. Do you own a successful business, farm, or ranch?
  4. Do you own rental properties?
  5. Do you make more than $200,000 a year?
  6. Are you charitable?
  7. Do you need to work on your estate plan?
  8. Do you pay too much in taxes?

Every tax plan that we have done this year was a direct result of a “yes” to one or more of these questions. Don’t let us tell you, “We told you so” only when it is too late. You don’t need to pay any more taxes than you need pay. Put the rest back in your pocket, back for your future, or back for your family. After all, I have never met anyone that said they have too much money. I am sure you could find good use for what you don’t have to pay Uncle Sam.


Kennedy Financial Services does not offer tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.