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re: Bonus at the end of year
Posted on 12/1/12 at 10:28 am to Rev1897
Posted on 12/1/12 at 10:28 am to Rev1897
Depending on your/my current income and tax deductions available, my answer could be take it now, pay the income tax, and put it to work earning tax-free income or unearned income with added depreciation opportunities. I am never a fan of delaying my payment of income tax to an unknown future of income tax rates.
1
Posted on 12/1/12 at 10:50 am to BestBanker
Roth is better if you are in a lower tax-bracket and expect to have a lower tax rate now than in the future. I'm sure you know that by now.
I'm fresh out of school, and I'm putting 10% a paycheck aside (7% into Roth and 3% into a regular IRA).
It would be really hard for you to shelter that 10k from taxes, or the IRS will come swoopin down on you
I'm fresh out of school, and I'm putting 10% a paycheck aside (7% into Roth and 3% into a regular IRA).
It would be really hard for you to shelter that 10k from taxes, or the IRS will come swoopin down on you
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