pfpelican
Recycles dryer sheets
- Joined
- Jun 21, 2006
- Messages
- 229
Great article and very timely, ThxI would be interested in anyone's experiences with taxes, especially in the mid-Atlantic region (PA, VA, NC, WV).
CJ
Don't feel too bad. Here is the combined provincial and federal (Canada) taxes where i live:
For instance, Pennsylvania does not tax pensions and at least some retirement accounts (as I understand) but the property taxes seem to be much higher than where I live (Maryland)....... I would be interested in anyone's experiences with taxes, especially in the mid-Atlantic region (PA, VA, NC, WV).
CJ
Cost for 1.75 litres C$48x.94=$45.12 in CanadaMore vodka!
1. Roths also don't have RMDs at 70.5, so also helps minimize tax bites,For this reason I have always questioned the wisdom of investing in Roth IRAs, annuities paid on an after tax basis, etc. where the tax is paid now with the promise of "tax free" withdrawals in retirement.
I figure that when I'm retired I'll have FAR more control over my tax bill than I do today. In retirement I will have far better control of where I want to live, and how much income I decide to "earn" in any given year, and a primary consideration of my life in retirement will be minimizing taxation on so-called "unearned" income.
Hence I'd rather have my tax deduction now thank you.
Not to mention that the government can easily change their minds on the taxability of Roth withdrawals. Need I remind anyone that budget deficits aren't getting any smaller? They made social security benefit taxable...I find it hard to believe that Roth withdrawals will never be taxable...