|How to Reduce the Biggest Expense of Your Life: Taxes|
|News Releases - Business & Economy|
|Written by Ginny Grimsley|
|Friday, 06 September 2013 14:25|
Financial Engineer Discusses Ways to Troubleshoot
Unnecessary Financial Burdens
Taxes account for the most expensive burden you’ll experience in your lifetime, says engineer-turned-independent financial planning coach Rao K. Garuda.
In addition to federal, state, city and death taxes, there are 59 other varieties. Relatively few taxes, however, account for the bulk of the burden on citizens, says Garuda, whose clients include retirees, people planning for retirement, physicians, business owners and other professionals.
He thinks his fellow Americans deserve a shot at keeping more of their money.
“When I came to the United States, I had less than $10 in my pocket, but I had an excellent education as an engineer. When I married a physician, I realized how expensive it is to make a good living here,” says Garuda, (www.aca-incorp.com), who quickly applied his analytical engineering mind to understanding the complicated tax system.
“Since this country has given me so much, I wanted to repay my fellow Americans with strategies for keeping more of their own money.”
Garuda identifies some of the most expensive and common tax hurdles affecting Americans and offers advice on troubleshooting our tax system.
• Problem: The IRA tax: great on the front end, terrible down the road.
• Problem: Too many people don’t take advantage of creating tax-free income via insurance products.
• Problem: Missed opportunities – people who don’t take advantage of free money in a 401k.
About Rao K. Garuda
Rao K. Garuda, CLU, ChFC, is president and CEO of Associated Concepts Agency, Inc. – “The Missing Piece” of financial planning -- founded in 1978, and a popular speaker at seminars and conferences for financial industry professionals. He came to the United States from India 35 years ago with a degree in engineering and, after marrying a physician, realized he had to learn how to reduce the couple’s taxes. Disappointed in the financial advice he received from professionals, he went to business school and developed expertise in tax reduction, and protecting money from stock market losses. Rao is a founding member of First Financial Resources, a national organization with over 75 partners in the USA; a life member of the Million Dollar Round Table (MDRT), and a life member of MDRT’s Top of the Table for 21 consecutive years.
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