I agree. They need to not blink before the election. After the election there is plenty of time to re-asses their position if the vote goes heavily against them. But, I don't see that happening and they need to call the Democraps bluff. NO TAX INCREASES FOR ANYONE.
That really sucks because I'm making an early withdrawal from my IRA first business day of next year to fund my trading account. Guess the only logical thing to do is try to keep income under 200K.
Not to worry, though. If you get close you can always donate to the PSPR Charitable Society to keep taxable income under $200k. If you've got a 401k you can loan the money to yourself and avoid the penalty and taxes. I don't think you can do that with an IRA though.
That's correct.(in general it's more like an absolute 5% higher marginal rate) for anything over apx AGI 180k as a single filer. Then as you go past 200k you start hitting those tripwire booby traps set by obama additional .9% medifraud geez I thought you were supposed to have a high IQ.
You obviously don't seem to grasp the situation. It's not a matter of stopping making earnings or trading profits, it's a matter of how much to take out of the IRA without unnecessarily paying the higher marginal rate & penalties. geez your ignorance is astounding.
That isn't what you said quote " Guess the only logical thing to do is try to keep income under 200K." But do keep the insults coming if it makes you feel better. I'm not one to put someone on ignore.
Yes and the optimal strategy for doing that is NOT taking too much out of the qualified plan. What part of that do you not get?