Talk of The Villages Florida - View Single Post - IRMAA not worth getting excited over unless LARGE IRA
Thread: IRMAA not worth getting excited over unless LARGE IRA
View Single Post
 
Old 10-17-2023, 06:24 AM
Nevinator Nevinator is offline
Member
Join Date: Feb 2023
Location: Village of Moultrie Creek.
Posts: 90
Thanks: 172
Thanked 96 Times in 41 Posts
Default
Quote:
Originally Posted by GoRedSox! View Post
It is not 37% on all your income, though, only the portion of your income over $693,750 for couples or over $578,125 for singles. And if your income is coming from qualified dividends, the top rate is 15%.
CORRECT! We have a progressive tax system, and taxes are calculated by tiers. Most people are unaware of that. Good comment.