IRA Question - Taxes [Consumer] - MarketTicker Forums


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User Info	IRA Question - Taxes in forum [Consumer]
Clintb350 Posts: 1454 Incept: 2008-01-19 Southern AZ	If I move $4,900 into my IRA, I can eliminate a $700 Federal Tax bill, and I can withdraw about one year from now with no penalty (I realize I will have to pay taxes then, and will have comparable income). If we're at TickerCon 2, what would TFers do? Last modified: 2011-04-15 18:30:30 by clintb350 2011-04-15 18:22:08 Permalink
Bountyhunter Posts: 1274 Incept: 2007-12-05 Newport Beach, Ca	Defer the tax today- thats a guaranteed 14% return today ..plus what you may earn on the $4900..... ---------- Our world is run by the MOB, ie the Banking Cartel. The number one recipient of commercial banking donations. Barack Obama. Nuf said. It’s enough to convict OJ with an ALL black jury. LCruiser 1/29/09 2011-04-20 14:18:23 Permalink
Binney Posts: 4185 Incept: 2008-08-27 Riverhead, NY	Clint... check to be sure that it is deductible. My hubby could not make a deductible contribution to offset what we owed. Don't understand why... just know that it is the case. ---------- write-in: Beelzebub When you just can't vote for the lesser of two evils any more. 2011-04-20 14:48:59 Permalink
Clintb350 Posts: 1454 Incept: 2008-01-19 Southern AZ	Thanks for the responses, it's about 4 days too late. I paid the $700. Didn't want to tie up $4,900 in an IRA at Tickercon 2. 2011-04-20 14:56:02 Permalink