{"id":253,"date":"2024-07-20T17:49:45","date_gmt":"2024-07-20T17:49:45","guid":{"rendered":"https:\/\/blog.suryapadhiea.com\/blog\/?p=253"},"modified":"2024-07-20T17:50:58","modified_gmt":"2024-07-20T17:50:58","slug":"tax-now-tax-deferred-and-tax-never","status":"publish","type":"post","link":"https:\/\/blog.suryapadhiea.com\/blog\/tax-tips\/tax-now-tax-deferred-and-tax-never\/","title":{"rendered":"Tax Now, Tax Deferred and Tax Never"},"content":{"rendered":"\n<p>When it comes to taxation, investment and retirement, one should know&nbsp; tax consequences such as Tax Now,&nbsp; Tax Deferred and Tax Never.&nbsp;<\/p>\n\n\n\n<ol>\n<li>Tax NOW (or Always):\n<ul>\n<li>These accounts include investments like stocks, bonds, and mutual funds. When you sell these assets after holding them for more than a year, you pay the long-term capital gains rate (ranging from 0% to 20%, depending on your tax bracket).<\/li>\n\n\n\n<li>If you hold investments for less than a year, you\u2019ll pay short-term capital gains at your income tax rate.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Tax LATER (Deferred):\n<ul>\n<li>Examples include IRAs, 401(k)s, and 403(b)s. Contributions to these accounts are tax-deductible, reducing your current tax bill.<\/li>\n\n\n\n<li>However, when you withdraw funds in retirement, you\u2019ll pay taxes at your highest tax bracket.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Tax NEVER:\n<ul>\n<li>Roth IRAs, Roth 401(k)s, and certain insurance products fall into this category.<\/li>\n\n\n\n<li>Contributions are made with after-tax dollars, so there\u2019s no upfront tax deduction. However, withdrawals in retirement are tax-free.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p>Remember, a tax-efficient plan can position you for optimal growth and tax-free withdrawals in the future.<\/p>\n\n\n\n<p>Contact Surya Padhi at Sure Financials for any question and clarification. Surya Padhi is an expert who keeps current on tax law changes as well as a member of the National Association of Tax Professionals <a href=\"https:\/\/www.natptax.com\/\">National Association of Tax Professionals (NATP)<\/a> and&nbsp; <a href=\"https:\/\/www.naea.org\/\">New Homepage &#8211; National Association of Enrolled Agents (naea.org)<\/a>. Visit <a href=\"https:\/\/surefintaxsvs.com\/\">Welcome | Sure Financials &amp; Tax Services, LLC (surefintaxsvs.com)<\/a> for more information and contact us by calling +1908.955.0696.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to taxation, investment and retirement, one should know&nbsp; tax consequences such as Tax Now,&nbsp; Tax Deferred and Tax Never.&nbsp; Remember, a tax-efficient plan can position you for optimal growth and tax-free withdrawals in the future. Contact Surya Padhi at Sure Financials for any question and clarification. Surya Padhi is an expert who [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[9,7],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts\/253"}],"collection":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/comments?post=253"}],"version-history":[{"count":1,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts\/253\/revisions"}],"predecessor-version":[{"id":255,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts\/253\/revisions\/255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/media\/256"}],"wp:attachment":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/media?parent=253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/categories?post=253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/tags?post=253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}