Could you vote in the current bracket that most closely corresponds to your then $ contributions?My max came before the tax rate reductions, so it's not listed here.
Could you vote in the current bracket that most closely corresponds to your then $ contributions?
Does “maximum” in the poll question not cover that?Clarification sought.
If my plan involves converting up to bracket X% for a number of years, then bracket Y% for a number of years, then bracket Z% for the rest of my planning period, how do you want me to vote?
Does “maximum” in the poll question not cover that?
Me too. If taxes rates don’t change I’ll save on taxes and break even on portfolio residual on the sizable conversions I’m doing. But I don’t believe for a minute that taxes won’t become more punitive over the next 30 years, just a matter of when and how much IMO. So I should make out on taxes AND ending portfolio value.I am betting that tax brackets will be higher when I am 72, and worse, if either of us are single, it will be maxed. It is hard for us to stay below 32% bracket, but I got to believe it will be more like 39% after 2026. So many gotcha's come into play with cap gains rates and NIIT once you get above a certain total income. It is a best guess that it will just be worse if they make 400K the new break point to rob us of our long earned profits from years of work on our small business.
Starting next year, I will convert up to the first IRMAA limit (currently $176k AGI) which will actually put me $21k below the top of the 22% bracket ($172k taxable income), given the standard deduction of $25k. As I see it, if I trigger IRMAA, the surcharge for 2 people will be $1596, which is 7.6% of that last $21k, for an actual marginal rate of 29.6%