Thread: IRMAA not worth getting excited over unless LARGE IRA
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Old 10-17-2023, 06:24 AM
Nevinator Nevinator is offline
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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.