Could someone please comment on the tax deductions for an actual example Trad IRA RMD subject to Federal and state taxes? Say 40Km how much would I have to pay in taxes?. Specifically what line items are there for taxes, e.g. SS, Medicare, other Federal?
Just how bad are the taxes? My state (MD) charges 7.75% for state and local taxes on Roth Conversions and RMD.
I would likely be in the 22% bracket when I take RMD because of SS and a small pension.
I am struggling to find a tax advisor who doesn't want me to liquidate my Fidelity trad IRA and transfer my assets to another investment house so they can choose and manage the investments.
Just how bad are the taxes? My state (MD) charges 7.75% for state and local taxes on Roth Conversions and RMD.
I would likely be in the 22% bracket when I take RMD because of SS and a small pension.
I am struggling to find a tax advisor who doesn't want me to liquidate my Fidelity trad IRA and transfer my assets to another investment house so they can choose and manage the investments.