My wife an I have have been doing Roth IRA conversions since we were 61 but now find it more painful. Our qualified dividends are now taxed at the 15% rate and that coupled with the 12% ordinary income rate and a 7% state income tax rate rate make our marginal rate 34%. I wish you had an idea or two for that problem! I'm thinking of converting some of my CDs to preferred stock where the dividends to at least eliminate the 12% ordinary income tax.

That's the question Jeffrey Levine, director of advanced planning at Buckingham Wealth Partners, discusses in this episode of Ask the Hammer.

Got Questions?

Email AsktheHammer@BuckinghamGroup.com

More Ask the Hammer

Ask the Hammer: How to Invest the Fixed-income Portion of Your Portfolio

Ask the Hammer: Should Parents Provide Financial Support to Adult Children?

Ask the Hammer: What's the Value of a Risk Tolerance Questionnaire?

Ask the Hammer: Tips on Selecting the Best Retirement Plan Payout Option

Ask the Hammer: What Are The Distribution Rules for Beneficiaries of Inherited IRAs?

Ask the Hammer: Should We Worry About the National Debt?

Ask the Hammer: Tax Consequences to Selling Assets in a UTMA or UGMA

Ask the Hammer: Three Tips on Buying a Used Car

Ask the Hammer: Who Qualifies for a Coronavirus-related Distribution?

Ask the Hammer: Is it Possible to Put an RMD Back Into an IRA?

Ask the Hammer: What Does Reg BI Mean for Investors?