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Old 07-15-2014, 09:05 AM
Location: Phoenix, AZ > Raleigh, NC
15,120 posts, read 19,114,110 times
Reputation: 24257


Originally Posted by Pocopsonite View Post
We're 68. Looked into the conversion awhile back (with the help of our accountant) and decided against it. Mostly because of the taxes. But partly because we're not convinced Roth IRAs will always be tax-free at withdrawal time. Social Security payments weren't taxable when they first started . . .

No kids, no GKs, just some charities that will remember us fondly and some younger sibs and their kids who will be amazed. (We live well below our means.)
Do consult a good estate planning attorney to be sure you are maximizing those inherited IRA's. The designated beneficiary rules make a huge difference if you are leaving funds to younger folks. If done properly, this rule allows the funds to remain in an IRA tax deferred. There are other rules for charitable beneficiaries.
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Old 07-15-2014, 12:11 PM
Location: State of Being
35,885 posts, read 67,286,146 times
Reputation: 22402
Flat tax. Throw all the regs out. Everyone pays 17%.
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Old 07-15-2014, 02:08 PM
1,316 posts, read 1,187,442 times
Reputation: 1932
Originally Posted by lenora View Post
I'd probably choose "Tax the hell out of estates" and direct the proceeds to education. We need a well educated workforce to continue providing the benefits seniors have come to expect.
Hmmm....a grave robber... eh?...
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