Brothers,
Tax season is here! Whether you’re ahead of the game and done filing, or you’re putting it
off for another couple weeks, this time of year is a good opportunity to consider whether
your tax rate or bracket has changed. If so, do you know the implications for your long-term
financial strategy?
People can end up in a higher tax bracket than they anticipate when their income
fluctuates — for example, if your salary changed, or if you retired and are drawing on
different income sources. Paying a higher tax rate may mean less disposable income or
less money to leave to your family as you planned.
You can protect yourself against these potential losses and build dependable cash value
through permanent life insurance with the Knights of Columbus. Permanent life insurance
allows you to build cash value that you can access tax-free while you’re alive. You can also
create an income tax-free inheritance for your loved ones after you pass allowing
permanent life insurance to be useful in a range of situations. Of course, we always
recommend that you work with a qualified tax advisor or CPA in addition.
Regards,
James Ginter III, Field Agent