I am on Social Security. Please tell me how much I can withdraw from my IRAs (not Roth) before I have to pay tax on it?
Answers | 1
Insurance Agent in Chicago, IL
April 21, 2015
Whenever you withdraw funds from pre taxed accounts ie. Traditional IRA, 401(k), 457(b), or 403(b) you have to pay taxes. Your tax rate depends on your taxable income for the year. If you would like to discuss a withdrawal strategy email me for a time to meet.
Asked by Kathleen
Answered by Dan Crimmins
Financial Adviser in Woodcliff Lake, NJ
Kathleen - It is great that you are saving for your retirement. The difference be...
Asked by victor piediscalzo
Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement accou...
Asked by Michael
Answered by Linda A. Stortz
CPA, EA in Largo, FL
You must be asking if you can "make" an IRA contribution, rather than "take" an IR...