IRA Rescue – Retirement Asset IRA, Estate Taxes, Income Tax, Double Tax of Inherited IRAs

Double Taxation on Retirement Assets Including Your IRA, Simplified Pension Plan, Simple IRA, 401K, Profit Sharing Plan, Defined Contribution Plan

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Powerpoint slides on a superior retirement planning strategy called Roth IRA on Roids which allows for tax-free distributions, tax-free growth, guaranteed principal and guarateed death benefits.The federal government has taxed estates since 1916. Since 1976 (modern estate tax legislation), federal law imposed a "death tax" linked to wealth transfers of estates, gift, and generation skipping transfers. The top estate tax is 45% for 2008 and 2009 up to 55% for 2011. The estate tax is on the fair cash value of the underlying "cash value" of assets on the death of the decedent and is the most progressive component of the federal tax code. To quote Committee Chairman Bill Archer, House and Means, during the debate on eliminating "death taxes:"

"The ancient Egyptians built elaborate fortresses and tunnels and even posted guards at tombs to stop grave robbers. In today's America, we call that estate planning."

The estate tax under current legislation will generate approximately $490 billion through 2018. For 2008, an estate tax return is due within 9 months of a person's death if the gross estate exceeds $2 million, 3.5 million for 2009 and is repealed for 2010 and for 2011 the tax exemption will return to the $1 million and a 55% top tax rate. Generally, the gross estate includes ALL the decedent's assets, and some gifts and gift tax paid within 3 years of death. The death tax is applied only to the top 2% of the wealthiest of our citizens and it's the underlying reason for Congress to resist the elimination of the death tax, it only affects 2% of their re-election votes!

According to the Urban Brookings Tax Policy Center projected that the estates of people dying in 2008 will file just over 35,000 estate tax returns. Of these, fewer than half (15,000) will owe any estate tax. This represents only 1 out of 160 of all individuals who will die with an estate tax problem in 2008, that's why it's a political hot potato for politicians. Their risk/reward for eliminating the estate tax is a NON-ISSUE. Close to half of all estate tax liability will be paid by the richest 1 in 1000 households. They can afford to lose votes from the very rich. It's a business decision to stay in business.

Decedent's Gross Estate Includes All Property including 401K, IRA, Trusts, Annuities, Mortgages

A decedent's gross estate includes the cash value at the time of decedent's death, "ALL property, real or personal, tangible or intangible, wherever situated." Read IRS Code Sec. 2031 (a) for more information. A decedent's estate may include stocks and securities, real estate, business interests, personal effects, annuities, trusts, 401Ks, IRAs, and other qualified plans. Each of these items is subject to a valuation determination as set forth in IRS Reg.20.2031-1. Take inventory of what you own: cash, savings, and checking accounts, CDs, stocks, mutual funds, bonds, treasuries, exempts, jewelry, cars, stamps, boats, paintings, and other collectibles; real estate, main home, vacation spot, investment realty, your business, interests in other businesses, limited partnerships, partnerships, mortgages and notes receivable you hold; retirement plan benefits, IRAs, and other amounts that you expect to inherit from others.

Double Taxation on Retirement Assets Including Your Inherited IRA, Simplified Pension Plan, Simple IRA, 401K, Profit Sharing Plan, Defined Contribution Plan

What's wrong with the estate tax? Well it's a tax on a very small part of our population, we should not offer our sympathy to those who can afford to pay. What's wrong however, is the double tax-trap on those same assets. Double taxation is when the IRS imposes two or more taxes on the same income, or two or more taxes on the same asset. For example if you own real estate in a C Corporation, when you sell, there's a tax on the sale at the corporate level, then there's a tax on the distribution of the sale proceeds to the shareholder. Another example is taxation by two or more countries on the same income, asset, or transaction.

The most significant unfairness of the estate tax is the double taxation on retirement assets, inherited IRAs, Simplified Pension Plans (SEP), Simple IRAs, 401Ks, Profit Sharing Plans, Defined Benefit Plans, Defined Contribution Plans, Money Purchase Plans, Stock Bonus Plans, and other types of pension plans to be inherited by others.

Estate Street Partners, LLC is a facilitator to proven IRA rescue and solution planning for ROTH IRA, traditional IRA, tax planning with IRAs, & infinite ROTH on ROIDS™ with a skilled team of advisors, qualified attorneys and accountants. IRA rescue planning is complex and best left to qualified experienced professionals. Call 508-429-0011 for the best retirement plans and see if you qualify.

This statement is required by IRS regulations (31 CFR Part 10, §10.35): Circular 230 disclaimer: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein

To learn more about how to protect your ROTH IRA, reduce IRA taxes and have a personal assessment of your tax portfolio contact Best IRA Rescue. We provide professional services in: precise asset protection systems; tax-ree wealth creation systems; advanced income tax tax-deferred strategies; implementation of tax efficient transfers to your next generation elimination of the probate process; the elimination of the only voluntary estate tax system for IRAs and other estate-related situations; specialized IRA retirement rescue plans and solutions.

Rocco Beatrice, CPA, MST (Master of Science in Taxation), MBA (Master of Business Administration), BSBA (Management/Accounting), CWPP (Certified Wealth Preservation Planner), CMMB (Certified Mortgage Broker), CAPP (Certified Asset Protection Planner), Managing Director, Estate Street Partners, LLC. Mr. Beatrice is an asset protection, award-winning trust, estate planning and tax expert.

If you are seeking for the best return on your IRA and Roth IRA investments while reducing your taxes then call us now for your initial, completely FREE, no obligation, no sales pressure, 100% total & complete client privacy consultation. Call us toll-free now at 888-93-ULTRA (888-938-5872)!

Estate Street Partners, LLC
Uncompromising, Alternative and Exclusive Retirement Planning & Wealth Management for an Accelerated Chartered Roadmap to Financial Success

Boston (head office):
71 Commercial Street #150, Boston, MA 02109
toll-free: 888-93-ULTRA (888-938-5872)
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543 Victoria Ste. J, Costa Mesa, CA 92627
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toll-free: 888-93ULTRA (888-938-5872)
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Providing the best IRA retirement plans for your ROTH IRA, traditional IRA and inherited IRA. Contact us now to reduce your inherited IRA taxes even if you have complex estate tax problems.

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