hardlySeattlenative wrote:Because OP's income as a working couple will be at the very highest Federal, state and local tax rates
Yes, with headroom.acejacksingh wrote:I believe if I max out my Traditional 401k I will be able to lower my federal tax bracket to 15% as well. Does that look correct?
To the extent you can realize LTCG within the 15% bracket you'll pay only MD tax, so use that headroom.acejacksingh wrote:3) Holding onto individual stocks right now and slowly reducing positions because I don't want to increase my taxable income.
This thread belongs in the domestic violence forum.Wricha wrote:after her pasting
Sounds like your MAGI should be under $61,000 and you should be fully eligible for a deductible TIRA contribution. Why aren't you just increasing your 401k contribution instead?chuckwagon1111 wrote:I max-out the 5% match and then contribute an additional 5%); my annual income is in the mid- to high-$60ks.
It's not for rich people, it's for high earners.Sents wrote:Utahgolf, there is a loophole for rich people called backdoor roth.
This is incorrect. You can make over $129k and still contribute directly to a Roth IRA. What's "the Roth website"?UtahGolf wrote:But according to the Roth website, if I make over 129k, I am not allowed to have a Roth ira.