Christopher E. asked
I need help in modeling my investment drawdown and taxes for the next 25 years. I don't live in the USA and can't get my accountants and investment advisors' attention. Drawing $1.6m without paying tax is my goal. I have $1.7m total in the USA, including $300,000 in an IRA, $400,000 in annuities, and $1,000,000 in regular investments. My current income and tax plan for this year is $65,000 total with $1,700 in tax. I plan to reinvest $30,000 into a Roth IRA and gift $14,000/year to my child. What is the best strategy to minimize my tax liability while drawing down my investments?
October 30th, 2023
Pamela M. answered
To minimize your tax liability while drawing down your investments, consider the following steps: 1....
October 30th, 2023
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