The Benefits Of Tax-Free Income - New City Insurance

When it comes to your retirement assets, one factor to consider is your tax liability. Retirement assets can grow in vehicles that are taxable, tax deferred or potentially even tax free. With the vast majority of people surveyed believing that taxes are going to rise in the future, this is a recommended time to consider reviewing retirement solutions and the potential impact of future taxation trends.

Benefits Of Tax-Free Income

Over the past few decades, many common strategies have led to a
taxable income stream in retirement, including traditional 401(k)s and IRAs. On the other hand, Roth 401(k)s and Roth IRAs have allowed savers to pay the taxes before purchase and withdraw their initial assets and earned interest tax-free in retirement.

How To Disperse Your Tax-Free Income

The main challenge for high income earning business owners or employees is income disqualification or contribution limits to participate in these types of ROTH plans.

A Non-Qualified Deferred Compensation

A Non-Qualified Deferred Compensation plan can allow you to control your future tax liability and participate without IRS and ERISA constraints.
Tax–Free

No defined annual IRS limitation on contributions
No limit on gross income affecting your ability to contribute premiums.
Tax-deferred cash value growth potential.
Supplemental retirement income through tax-free withdrawals
No 10% penalty tax for accessing policy cash values prior to age 59 ½.
No required minimum distributions (RMDs) for owners.
Income tax-free death benefit for your beneficiaries.

Work With New City Insurance

The knowledgeable team at New City Insurance has helped countless companies of all sizes find plans that best align with their business goals and strategies in order to help business owners and employees alike be satisfied with their insurance plans, benefits and more. To learn more about the benefits of tax-free income and whether it is the right choice for you speak with out team at New City Insurance by calling us today at 888.210.2759 or request a consultation online.

Carol Zhang

04:29 06 Mar 22

As a rapidly expanding national media organization, the employee benefits strategy and administration that New City has provided us during our growth has been invaluable. They have been proactive about informing us of the different benefit strategies available to us as we grow as well as managing the additional compliance laws and reporting requirements at each stage of our growth.

Claudia Villalobos

20:14 03 Mar 22

New City Insurance made navigating through all the health insurances super EASY. Their documents are highly informative, professional, and easy to work with. Thank you for making the process of choosing a health plan so simple. You guys are THE BEST!

Philippe Salas

17:02 22 Feb 22

I never expected to have a good time talking to an insurance salesman, but let me tell you Brendan was quite the treat. He was very helpful explaining the options and has a wonderful sense of humor. I hope to speak with him every time I call.

Jennifer Polito

17:15 09 Feb 22

Super easy enrollment process. Fast and friendly customer service. If you are looking for an insurance company that is there for you every step of the way I highly recommend New City Insurance.

Rocky Salas

23:46 07 Jan 22

So friendly, I hope to speak to him again in all my future insurance needs.

23:38 07 Jan 22

So friendly and soft spoken. I hope to speak to him again in all my future insurance needs.

Jose Brena

13:20 06 Jan 22

Eric Calciano has been extremely helpful in finding and selecting the right insurance coverage for our company. With many options out there Eric assisted us on getting a low cost provider saving more than 20% than from our competitors and providing excellent coverage for our employees.

Anastasia Beaverhousen

17:05 28 Dec 21

Signing up for insurance was quick and easy. Felicity Sundsboe

SFCC

22:08 29 Nov 21

Jeff Stoltey and his team provide excellent customer service. Jeff has always provided my company SFCC with straightforward options. I went to a larger insurance company only to RUN BACK to Jeff at New City Insurance. I recommend them to anyone needing insurance without hesitation.

Kevin Luby

19:13 22 Oct 21

Quick, easy & informative. We were able to secure quality insurance for our small business on a tight deadline. Thanks for the help New City.

Theresa Ruybol

19:30 01 Jul 21

Eric was so great with us. He was very patient and kind as we are a newer smaller organization who is growing rapidly. With that said, we had made our inquiry, he had great rapid response and mostly had to wait on me. Any request that we made and/or questions we had, he was great answering and helping us understand. Then when we were ready for all documents and to move forward, Brendan helped with getting that together and the two of them worked their magic on New City's end to notify me of what was needed, assist me in that process and confirming that all was complete and approved for the coverage. I just want to say thank you all again so much, as insurance has always been confusing to me, and you all made that process go a lot smoother.Thank you

Andrea Ordendorff

21:06 07 May 21

I've been working with both Clayton and Brendan for well over a year. As the purchase of our dental practice was delayed well over 14 months they both patiently supported me and continued to make themselves available. When we were officially ready to sign up they made the whole process seamless and super easy. This team is highly knowledgeable, professional, supportive, and efficient! I can't thank them enough for everything they've done.

T W

22:32 30 Aug 20

I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!

Mary Jane Deyette

00:57 11 May 20

Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff

Alma Ortiz

22:25 23 Feb 20

Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!

jessica kavanagh

19:53 13 Feb 20

Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.

Tricia DeYoung

19:49 13 Feb 20

I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.

B Bayer

17:43 24 Sep 19

NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!

Jessica Lehr

03:36 07 Jun 19

Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.

Mike McClay

19:36 03 May 19

My employer uses New City as their insurance broker, and I'm always amazed when I call in for assistance by how knowledgeable and attentive their staff is with my requests. Their online benefits platform makes selecting insurance plans pretty darn easy. I would highly recommend their services.