Hey Rockstar, if you have a question here for Tim that you'd like him to answer on the show anything tax related anything asset protection related go to tax hacker.com

Forward slash questions post your question there and then we'll answer it live right

here on Tax Hacker Tuesday. Enjoy the show.

This is Terrio Media. Did you know that up to 50% of your lifetime income will be wiped out by taxes?

What if you could stop this madness?

Isn't it about time you play on a level playing field with the wealthiest 1%, now you can.

Tim Berry, attorney at law, shares here each and every week current tactics and strategies

that anyone can implement to hack the tax code. Protect your

assets and keep what's rightfully yours. It's time for Tax Hacker Tuesday.

All right, so you got yourself directed for 1k. It's just you and your spouse who are the participants inside the plan.

It's time to file a tax return. You have over $250,000 of assets, what form should you use? A 5500 EZ or a 5500 SF.

And if you even asking this question, you're probably working with the tax preparer.

And let me explain why.

Most tax preparers want you to fill out the 5500 SF. And the reason being is with a 5500

SF you can electronically file. It makes it so much easier for them. But the big challenge with a 5500

SF is is public record. That's a public record document. Now anybody can go on the internet, type in the name of your 401k plan, and see exactly what

assets you have inside your 401k plan and what you've been doing. 5500 EZ on the other hand. That's a paper document. It can't be electronically filed.

It's super simple to fill out is just a front and back piece of paper, super simple, and it is not public record. So if you're using a tax preparer to fill out your 5500

make sure they don't use the SF.

Do not use the SF, use an easy instead.

Now they might get upset and flustered and say,

I'm not gonna do it unless we can electronically file.

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