How to Avoid Tax Scams During a Pandemic

Retirement Lifestyles with Patrick McNally

Let's preview today's show...

Being in financial services for over 20 years now, I've found that most people worry.

They've worked hard their entire life and now retirement has been thrust upon them. And while they think they're doing okay, they just aren't sure. There's so much to know and by their own admission, they don't know what they don't know, and that causes the worry. Worry that paralyzes you into doing nothing.

So if that sounds like you, you're listening to the right show.

I specialize in managing retirement accounts. I'll guide you to the right investments that can give you an income that is predictable, consistent, safe and can even increase every year, no matter what the market does. Ultimately giving you the peace of mind you're looking for.

The title of the show today is "How to Avoid Tax Scams During a Pandemic".

The IRS releases an annual list of what it calls the Dirty Dozen Tax scams, and it gets updated every year. And they just released 2021. So I'm going to walk through each of the scams so you can understand what to look for and more importantly, how to avoid getting taken advantage of.

Later on in the show we'll have a fitness tip for as well as an announcement that you'll want to hear about.

And then I want to carve a little time to discuss variable annuities... I got a call this week from a friend who told me he found his dad bought a variable annuity and wanted to know what he got himself into. So I'm going to break that down for you.

As always I got a loaded show for you and I'm super excited... So grab your notepad and press play!!

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Disclosures

Information presented is believed to be factual and up to date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the host on the date of publication and are subject to change.

All information is based on sources deemed to be reliable, but no warranty or guarantee is made as to its accuracy or completeness. Financial calculations are based on various assumptions that may never come to pass. All examples are hypothetical and are for illustrative purposes only. Charts, graphs, and references to market returns do not represent the performance achieved by Retirement Lifestyles Advisory Group or any of its advisory clients.

Content should not be construed as personalized investment advice, nor should it be interpreted as an offer to buy or sell any securities mentioned. A professional advisor should be consulted before implementing any of the strategies presented.

Past performance may not be indicative of future results. All investment strategies have the potential for profit or loss. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for an investor. In addition, there can be no assurances that an investor’s portfolio will match or outperform any particular benchmark. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses.

The social security, tax, legal, and estate planning information provided is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Retirement Lifestyles Advisory Group is not affiliated or endorsed by the Social Security Administration of the United States.

Case studies are for illustrative purposes only and should not be construed as testimonials. Every investor’s situation is different, and goals may not always be achieved.

Retirement Lifestyles Advisory Group is registered as an investment advisor and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators, nor does it indicate that the advisor has attained a particular level of skill or ability.