<html><head></head><body><div>What is this "retirement" stuff you speak of? I was tired yesterday morning and tired again this morning. Am I re-tired?</div><div><br></div><div>I can retire when my kids agree to buy the beer and internet access.</div><div><br></div><div><grumpy shuffles off to fix another damn busted computer></div><div><br></div><div><br></div><div>On Thu, 2016-03-17 at 12:26 -0400, Sean Kilpatrick wrote:</div><blockquote type="cite"><pre>For those of you who file a joint tax return for state and federal
AND contribute to a Roth IRA, you might want to talk to a cpa -- soon.
Why,
Because one more time our Congress-critters have lied to us.
When you retire and try to draw on the Roth IRA you will find that it
is, indeed, taxable -- at about a 21% rate.
So how does this shell game work?
Your retirement income usually is made up of two main components: your
Social Security and Everything Else. The greater the sum of Everything
Else, the more of your Social Security income is taxable. The Roth is
part of Everything Else. If you run through the worksheets with and
without the Roth component of your retirement income you will clearly
see that it is the Roth income that is driving up your net tax bill.
Your money is being taxed twice.
You have 32 days.
Sean
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</pre></blockquote><div><span><pre>--
James P. Kinney III
Every time you stop a school, you will have to build a jail. What you
gain at one end you lose at the other. It's like feeding a dog on his
own tail. It won't fatten the dog.
- Speech 11/23/1900 Mark Twain
http://heretothereideas.blogspot.com/
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