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The Tax Bomb In Your Retirement Accounts: And How The Roth Can Help You Avoid It
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ISBN: 1723234737
Author: Scandlen, Josh
Condition: New
John and Judy are in the 12% tax bracket. But when they took $10k from their IRA they had a 50% tax increase. Why? When John died Judys income went down by 33% but her taxes went UP! Why? Isnt interest on municipal bonds tax free? Then why did it cause John and Judys taxes to increase? When Judy took out $20k to take her daughter on a cruise it cost her $9,908 in taxes. Yet when Jane did the same it cost her nothing. And they both have $80k in total income. Why? When Bob took out $10,000 from his IRA his taxes tripled. Why? Why did Bobs Medicare premiums nearly double when he took out an extra $10k from his IRA? When Jenny, a divorced gas station attendant making $35k a year, inherited an IRA from her mom she lost 25% in Federal taxes. Why? In this book were not only going to answer these questions but were also going to show you what you should be doing NOW to avoid the stealth tax increases retirees face but are ignorant of...until it's too late.
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The Tax Bomb In Your Retirement Accounts: And How The Roth Can Help You Avoid It