Ask Larry

What Is The Best Way To Keep More Of My Income From Being Taxed?

Hi Larry I have funds in and IRA that were put in pre taxed. When I take them out they are considered taxable income. I have to claim my social security and this puts me owing taxes on the money I took out and some of my social security. I was born in 1952 and will soon have to take a required distribution amount. What is the best way to keep more of my income from being taxed?

Hi. I'm sorry, but this forum is intended only for questions about Social Security benefits. We aren't able to give advice on tax strategies here. You may want to consider using our Maxifi software (https://maxifiplanner.com/) to do your financial planning.

Best, Jerry

Category: 
Posted: 
May 11 2021 - 3:11pm
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