Here They Come! Why Congress Might Have to Mess with the 401(k) | TigerDroppings.com
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LSURussian
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Member since Feb 2005
85147 posts
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re: Here They Come! Why Congress Might Have to Mess with the 401(k)

quote:

It will be taxed when it is spent, in all probability.

quote:

Some

Some won't be.....in all probability, just as the statement said.

I'm going to do my best planning to avoid paying taxes on my 401(k), IRA rollover withdrawals whenever I start withdrawing by attempting to withdraw only an amount that won't put me into a taxable income situation.

Or, if I can't, I plan on making charitable contributions to negate the taxable income amount.


WildTchoupitoulas
RA:18h 49m 59.0s, dec:-8° 33' 55.3"
Member since Jan 2010
18871 posts

re: Here They Come! Why Congress Might Have to Mess with the 401(k)
quote:

I'm going to do my best planning to avoid paying taxes on my 401(k), IRA rollover withdrawals whenever I start withdrawing by attempting to withdraw only an amount that won't put me into a taxable income situation.

Isn't that a bit like saying, "I'm going to quit my job paying $150,000 a year and get on welfare so I don't have to spend $30,000 on taxes."?

Yeah, you're 'saving' $30k right there.



I mean, I can see managing it so that you don't hit the highest bracket, and stay right below the cut off, but no income taxes?

Maybe I need to study up on taxable income in retirement.


Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
8239 posts
Online

re: Here They Come! Why Congress Might Have to Mess with the 401(k)
quote:

by attempting to withdraw only an amount that won't put me into a taxable income situation.


Not possible.

quote:

Or, if I can't, I plan on making charitable contributions to negate the taxable income amount.



Not possible.

Dumbest post in this thread.


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