marko
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 16, 2011
- Messages
- 8,503
Hi. New here so please forgive if this is/has been covered elsewhere. If so can someone please steer me there?
I'm trying to figure out the benefits of perhaps withdrawing (let's say) three year's worth of cash requirement from an IRA distribution, paying the 28% tax rate and then not paying any tax for 3 years afterwards --or worst case, falling into the 15% bracket.
If I take it year by year, I'll be in the 25% bracket as my spouse still has a good paying job. If I take nothing we should be in the 15% bracket, but we need the extra cash from the IRA to fill the gaps.
(yes, yes, I realize the tax changes coming in 2013)
What I'm trying to do is 'toggle' in and out of a higher tax bracket.
Does any of this make sense or am I wayyyy over thinking this?
I'm trying to figure out the benefits of perhaps withdrawing (let's say) three year's worth of cash requirement from an IRA distribution, paying the 28% tax rate and then not paying any tax for 3 years afterwards --or worst case, falling into the 15% bracket.
If I take it year by year, I'll be in the 25% bracket as my spouse still has a good paying job. If I take nothing we should be in the 15% bracket, but we need the extra cash from the IRA to fill the gaps.
(yes, yes, I realize the tax changes coming in 2013)
What I'm trying to do is 'toggle' in and out of a higher tax bracket.
Does any of this make sense or am I wayyyy over thinking this?