Bill Lloyd on Tax Strategies: Charitable Pay Raise, Roth Conversions & Wealth Planning
Wayne Zell welcomes Bill Lloyd to discuss his expertise in tax strategy, focusing on the Tax Cuts and Jobs Act and its implications. They explore opportunities like the Charitable Pay Raise and Roth IRA conversions, delving into estate tax and the origins of these strategies. The episode includes who benefits from these strategies and case study examples, as well as wealth replacement strategies and their legal backing. They discuss accessing information and feedback from authorities, understanding the fee structure, and the role of philanthropy in wealth management. The conversation concludes with a preview of upcoming episodes.
Key Points
- The charitable pay raise strategy combines tax advantages from charitable donations and Roth IRA conversions to maximize after-tax cash flow and support meaningful charities.
- The strategy can be applied to various capital appreciation assets like employer stock, collectibles, or high-performing stocks to minimize capital gains tax and generate tax-free income.
- While the assets used in the charitable pay raise will not go to heirs, pairing the strategy with life insurance in an irrevocable trust can replace the wealth and exclude it from the taxable estate.
In this episode of "Blueprint for Wealth," host Wayne Zell interviews Bill Lloyd, a financial services expert with over 35 years of experience. Bill introduces the "Charitable Pay Raise," a patented tax strategy designed to maximize after-tax cash flow while supporting meaningful charities. Learn how this innovative approach combines charitable income tax deductions with Roth IRA conversions to create tax-free cash flow for life. Bill also discusses the impact of the Tax Cuts and Jobs Act of 2017 on this strategy and how it can benefit high-net-worth individuals, families, and philanthropists. Don't miss this insightful conversation on tax planning, estate planning, and financial strategies.
Key Topics:
- Introduction to the Charitable Pay Raise
- Combining charitable deductions with Roth IRA conversions
- Impact of the Tax Cuts and Jobs Act of 2017
- Benefits for high-net-worth individuals and families
- Estate tax savings and wealth replacement strategies
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Transcript
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