Quote:
Originally Posted by MandoMan
Everything I withdraw from my retirement account is taxed 20% before it reaches my bank account. That’s plenty. However, I also had to kick back $10,000 from my Social Security income because I had too much other income, and to pay that I had to take out more money from my retirement account—plus 20%. And that will increase the kick back next year.
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I think you can waive the withholding tax from most retirement accounts. I would ask the account custodian about doing that.