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tax rates for income 2009 v. 2010

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feste
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« on: June 27, 2009, 07:23:18 pm »
Contemplating an IRA withdrawal that pushes agi over 250K. It can be done either now or next year. From a tax rate point of view, is it better to do it in 2009, in 2010, or does it make no difference?
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« on: June 27, 2009, 07:23:18 pm »
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apapunas
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Posts: 49
« Reply #1 on: June 30, 2009, 04:11:40 pm »
Depends on how much you plan to make this and next year. Income (i.e. IRA withdrawal) that you make increases your AGI which in turn pushes you to a higher tax bracket. For example, if your taxable income is below $171,550, you are in 28% bracket. The next one is 33%. The highest tax bracket is 35%.
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atari
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« Reply #2 on: June 30, 2009, 04:17:23 pm »
See here for 2009 tax table (shows the tax brackets)
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Maxi-Pedia Forum > Finance, Business, Taxes, Economics, Jobs, Politics, etc. > Taxes (Moderator: mod) > Topic: tax rates for income 2009 v. 2010
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