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Reply to "Current Tax Bracket vs. Retirement Tax Bracket"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]36% effective tax rate. I expect it to go up, which is why we have transferred about $550k to a Roth IRA.[/quote] Details plz. Isnt there a certain income level max? also, I guess that means you paid taxes NOW on that money correct?[/quote] There is effectively no income limit now. You deposit money into a regular IRA and convert it to a Roth instantly. This is not a loophole -- it's something Congress deliberately created a couple of years ago as a revenue raiser since, to your second point, it results in more taxes paid now (on the conversion). It's a huge revenue loser in the out years ,however, so it wouldn't shock me to see Congress claw it back at some point.[/quote] Is the conversion easy? [/quote]
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