Re: Reducing Tax Liability
For any Alabama retirees out there a proposal is being considered this week to eliminate the state income tax exclusion for federal and state retirees annuities and Social Security income. Key consideration in where to retire. You may wish to express any concerns to the Governor's Office or your representatives.
Re: Reducing Tax Liability
Quote:
Originally Posted by
gooster32
Another question I have... When is it a good idea to start a Roth IRA? They are available with my employment.
In addition to Frixx's and PO's responses, you must keep your Roth for at least 5 years and you must be at least 591/2 to start withdrawals or else, you'll incur the 10% penalty...