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.
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