Robert11 wrote:
- quote -

There are a couple things to look at, lacking any other information
about you or your circumstance.

Look at http://www.fairmark.com/refrence/index.htm and understand what
tax bracket you are in. You may find that you are in that odd range
where despite thinking you are in the 25% bracket, your margin rate
shoots up because of the impact on social security being taxed. Or maybe
you are in the 15% bracket with room to spare before hitting 25%.

Either situation suggests that rolling some money into a Roth IRA may
make sense. I ramble on about this on my site
http://www.joetaxpayer.com/roth.html
and show how the conversion can prevent the RMDs (required
distributions) from sending you into a higher bracket.

As another poster stated, you can donate from the IRA, which I also
discuss, and this week Scott Burns also picked up on the idea. This
works if you intended to make donations anyway. Obviously, giving money
away just to avoid taxes doesn't make economic sense. This can help if
you aren't able to itemize, as the direct donation avoids taxes.

If you do plan on dying, your heirs are better off receiving a Roth IRA
as no taxes are due at withdrawal.

I do recommend you confirm the beneficiaries are stated on the IRA, and
if there are more than one, splitting the IRA into two accounts to keep
things easier. I've seen too many IRAs lose their stretch opportunity
due to mishandling after the passing of the owner.

JOE

On Mar 20, 1:22 pm, "Robert11" <rgs...[at]notme.com> wrote:
- quote -


Well there is at least one, which I am quite sure you are not keen
on: dying. In which case your heirs can set up a stretch IRA in
their own names and delay the taxation.

Theres a new law that bypasses taxes if you contribute
the withdrawal directly to charity. The law ends this year
and is limited to 100K. It also doesnt affect your medicare
premium which now depends on income.

(But I am guessing you wanted an answer that both reduces
tax and allows to keep the withdrawal.)

For people pondering when to withdraw their IRAs they might
keep their eye open for the increasing trend to means-test
senior benefits like SS and medicare. Later withdrawals
have larger manadotory minimums and could make the
means-testing more onerous.

Hello:

Have turned 70-1/2, and I guess it is now time to concern myself with the
mandatory withdrawl of funds from my traditional IRA that I started so very
long ago.

I realize that I will be owing taxes on the amounts withdrawn each year.

But, I'm not too sharp with this stuff anymore.

Is there any way around the tax bite ?

e.g., another type of roll over, or...


Thanks,
B.