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Ways to reduce income tax when you began making IRA withdrawals?

July 13, 2010 By: admin Category: General

Any ideas to save on income tax before one has to start making withdrawals from IRA?
I thought one way would be if you're 67 years old and you know you will have major medical expenses in these next 2 years, should you withdraw some out of your IRA since you will be able to deduct the medical expenses from your taxes? Otherwise, if you wait till 70 1/2, then you will not have the deduction benefit.
Any other ways to save income tax when you start making IRA withdrawals?

Ways to reduce income tax when you began making IRA withdrawals?

July 13, 2010 By: admin Category: General

Any ideas to save on income tax before one has to start making withdrawals from IRA?
I thought one way would be if you're 67 years old and you know you will have major medical expenses in these next 2 years, should you withdraw some out of your IRA since you will be able to deduct the medical expenses from your taxes? Otherwise, if you wait till 70 1/2, then you will not have the deduction benefit.
Any other ways to save income tax when you start making IRA withdrawals?

Ways to reduce income tax when you began making IRA withdrawals?

July 13, 2010 By: admin Category: General

Any ideas to save on income tax before one has to start making withdrawals from IRA?
I thought one way would be if you're 67 years old and you know you will have major medical expenses in these next 2 years, should you withdraw some out of your IRA since you will be able to deduct the medical expenses from your taxes? Otherwise, if you wait till 70 1/2, then you will not have the deduction benefit.
Any other ways to save income tax when you start making IRA withdrawals?