Z3Dreamer
Thinks s/he gets paid by the post
A common spreadsheet/planning objective is to balance Roth Conversion, ACA and RMD. In a nutshell, you want to convert as much as possible, while still qualifying for ACA subsidies, but you also want to look a few years into the future to make sure that RMDs won't make you gasp at marginal rates in 40's or above.
While Roth converting and qualifying for ACA, we have an HDHP and HSAs. Guess what? We exceeded the threshold for deducting medical. So now, in the current year, I have to choose between some level of Roth converting or deducting medical expenses.
For every dollar I don't convert, I will get about 20 cent tax savings (Federal and State). Down the road, I may have more SS taxable at a pretty steep rate. Seems like I should forget today's deduction and look long term.
Anyone have this?
While Roth converting and qualifying for ACA, we have an HDHP and HSAs. Guess what? We exceeded the threshold for deducting medical. So now, in the current year, I have to choose between some level of Roth converting or deducting medical expenses.
For every dollar I don't convert, I will get about 20 cent tax savings (Federal and State). Down the road, I may have more SS taxable at a pretty steep rate. Seems like I should forget today's deduction and look long term.
Anyone have this?