Precision7 offers tax-advantaged savings through IRA consultation and tax-deferral. Precision7 accompanies its clients in preparing for their retirement savings plan. Our Individual Retirement Account (IRA) is a personal savings plan that provides tax advantages for saving money for your retirement. Precision7 IRA can reduce your tax liability. IRA is optional but largely encouraged by retirement savings schemes in various companies for a favorable tax framework, both to the employees who benefit from them and to the companies that offer them.
All your contributions are made with after-tax money, hence all withdrawals from your contribution amount are continuously tax-free. Furthermore, there are no minimum distributions required from the original owner. Precision7 offers a full range of long-term management solutions for tax-deferred earnings. We have designed a capital guaranteed solution that is unique in the market.
Traditional IRA and a Roth IRA?
A Traditional IRA is the IRA originally approved by the United States government. The Traditional IRA has two main benefits. The tax payment is deferred from IRA income until funds are withdrawn. For many contributors, contributions to the IRA are tax deductible.
A Roth IRA is a more recent retirement savings plan. The main benefit of a Roth IRA is that all profits that accrue are exempt from tax if the withdrawal meets the requirements of a qualified distribution. With the increase in income tax, Roth IRA accounts (personal non-deductible retirement accounts) are becoming increasingly attractive.
Precision7 makes sure you know from the start the amount of the guaranteed capital while taking advantage of tax deductions. You are certain that the principal at the end of the contract will be paid to the person you have designated and at the time you have chosen. We can also help you to maintain control of the contract throughout its duration. Whether you are changing a job or retiring, Precision7 IRA allows you to build retirement savings in an attractive tax and social framework while enjoying the tax deferred growth.
Generally, if you are under sixty years, you must pay a 10% additional tax on money you withdraw from your traditional IRA. However, this tax is in addition to regular income tax you pay on the amount that is included in your income.
Precision7 IRA benefits
- Savings Security & Payment Flexibility
- Return and advantageous tax deductions
- Great availability for your savings