Tax “deferred” Retirement Savings Plans…Smooth now, Stings Later

mwalkerwade Posted in Deductions, Income Tax, Money Management, Tax deferredLeave a Comment on Tax “deferred” Retirement Savings Plans…Smooth now, Stings Later

Tax “deferred” retirement savings plans (IRA, 401k…) feel smooth now, but they have a nasty bite in the end. All of my tax clients who saved for retirement using tax deferred plans are now paying taxes up the wazooooo! They’re paying taxes on the income they “deferred” PLUS any interest or dividends that money gained. […]