Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "1%ers: What are you doing with your $$ before Dec 31? "
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We're converting to Roth IRAs, adding $26k per child to 529 plans and probably selling off stocks with a lot if capital gains. Anyone else making money moves before the end of the year? [/quote] How can you be 1%ers and eligibile to open a Roth? We're 5%ers and still not eligible for Roth. Are you talking about converting a traditional and taking the tax hit in 2012?[/quote] Yes, converting and paying $350,000 tax in 2012 on the conversion. [/quote] Just to be straight-- you have a million dollars in an IRA and you expect to be in the highest income tax bracket in retirement and you've decided that you can save on taxes by using a loophole that allows you to convert to a Roth even though your income is above the limits for Roth contribution. Do you want anyone to feel sorry for you? Do you think this is the place where the super-rich come to whine about how much they have to pay in tax?[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
