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Technology Stocks : A Bob Brinker Fan and Critic Club -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (88)	4/15/2013 5:58:57 PM
From: Honey_Bee	Respond to of 123

Nice summary. I have posted a transcription of what Bob Brinker said about Obama's proposal to cap Retirement Accounts: honeysbobbrinkerbeehivebuzz3.blogspot.com

To: Kirk © who wrote (88)	4/15/2013 7:31:36 PM
From: Boca_PETE	Read Replies (1) \| Respond to of 123

Yes there was that angry caller yesterday whining how his IRA RMD had thrust him into the 85% of Social Security is taxed bracket, but we've known about that unfair tax code provision for years thanks to Brinker's past whining about that very issue. But when you reach age 70-1/2, you come to realized there's many more moving parts to the tax code to also beware of. The size of RMD's can throw one into higher brackets for Part B Medicare Premiums deducted from one's social security benefit checks. The increase can be quite substantial for each bracket breached. To mitigate that challenge, one can choose to suffer the bracket creep on a one-time basis (or on a chosen proportionate annual basis by making IRA Traditional Account or Employee Pre-tax Plan Account conversions to ROTH-IRA's. Just beware that if one chooses to do this, the tax code REQUIRES that you must physically take your RMD BEFORE doing any ROTH CONVERSIONS. During the first year you take RMD's (the tax year after reaching age 70-1/2, you normally have the option of deferring the taking of it until March 31 of the following year, but that option is forfeited if you do a ROTH CONVERSION and therefore have to first take your RMD before such Roth Conversion. And if you don't take an RMD, you owe a tax penalty of 50% of the RMD (UGLY!). "The is no such thing as SOCIETY. There are only INDIVIDUAL men and women and families!" -- Margaret Thatcher Right now, it seems that evil has the upper hand. That's the only conclusion where things make sense to me. P