asked
I am an independent contractor anticipating earned income over $41,000, putting me in the 22% tax bracket for 2022. I have contributed $3500 to a Roth IRA and have funds in an Inherited IRA (Inh IRA) that I have not withdrawn yet. Should I contribute more to my Roth IRA by 12/31/22 to possibly reduce my tax bracket? If I'm already in the 22% bracket, is it advantageous to withdraw most of the funds in the Inh IRA now if it doesn't put me into a higher tax bracket? Alternatively, if I contribute more to the Roth IRA now, might I be in the 12% tax bracket and thus not withdraw any Inh IRA funds for 2022?
October 25th, 2023
Is it legal to make tax-free or tax-exempt investments, and do you have to report them on tax forms or send records to prevent legal trouble?
February 27th, 2024
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December 16th, 2024
Why were my 2022 Social Security benefits suspended when I went back to work in August 2022, even though I expected them to be cut in half rather than completely suspended?
May 30th, 2023
I am planning to start collecting Social Security benefits in January 2023 at 66 years and 4 months. My wife retired at 62. While filling out my application, I added her as a spouse and the calculated amount is over 50% of what she is currently collecting. Is this correct? Additionally, how are survivor benefits calculated if I die?
October 22nd, 2023
How do you analyze market multiples and judge whether a company, specifically Apple Inc., is overvalued? And based on current market conditions, should you buy, sell, or hold Apple's stock?
October 24th, 2024