More horrible tax advice

Brian Fricke, CFP®Life Insurance, Taxes

Recently I heard about a situation where a retiree had been “advised” to move their IRA money into something called an Insurance Based Retirement Plan. This is just horrible tax advice, here’s why.

$12,358 tax bill turns into $579 refund

Brian Fricke, CFP®Taxes

Several years ago, we got a call from one of our clients at tax time who was not happy at all with their tax bill.

Instead of a small refund, they were looking at a $12,358 tax bill. Turns out they made one of the most common mistakes we run across.