IRA, Twenty Two Percent, Thirty Seven Percent discussed on Radical Personal Finance

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Low effective tax bracket so i would just do it carefully not gigli ride the brackets in your conversion schedule but i don't see any reason not to convert for your situation that you're describing to me okay is there what marginal tax brackets should i thought converting right now if my wife turns seventy we'll be in the thirty five percent marginal tax bracket and earn seventy will be thirty years in the current tax rate or will i'll be in the thirty seven percent tax bracket i was thinking of converting up to the maximum within the twenty four percent tax bracket which what's your top marginal bracket that you are now talk marginal right now is twenty two percent how much money do you have in the in the tradition ira's that you want to convert a one point eight million and how much broom do you have in that twenty two percent bracket how much more income can you pick up each year before you go to the next bracket any idea this first year about sixty thousand so why it'd be sixty thousand every year i think in order to get in order to stay into the twenty two percent tax bracket are you gonna leave all this money to relatives or are you going to give some of the money to any qualified charities do do do you know yet we don't right now to our relatives and with the idea of giving some to some charities but we haven't identified that yet i do intend to.

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