BigBeautifulBill and taxes on 401k
I am thinking I should convert some of our 401K to a Roth before year end so we can take advantage of a higher income > $220K and get a bigger tax cut of $13,200 instead of doing nothing. Is true that people who earn less then $220K will only get benefit from BBB of $1730. While those making > $220K will get a tax benefit of $13,200 helping with payment of taxes on Roth conversion
Terry Says
I don’t know where you got that idea! There’s much more to this decision than you understand.
Please read this article on Roth Conversions and get some specific help by using the program. https://www.terrysavage.com/roth-conversions-2/
