Quote:
Originally Posted by Babubhat
Taxable distributions can be backwards. Children working in California or NY could be paying more than 50% tax. May be better to do Roth conversions for the tax differential.
Look into creating a 501c3 if the amounts are worthwhile. All of The wealthy use this planning device. The IRS pays no scrutiny if you execute it properly.
|
Any source for that? I can't find any rates higher than 13% and might be as low as 0%.
Definitely want to consult a tax professional before trying to play games with the IRS.
__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY
Randallstown, MD
Yakima, WA
Stevensville, MD
Village of Hillsborough
|