✉news BusinessPersonal Finance first seen 22 h ago, last 17 h ago, peak #8
Why a 62-Year-Old Couple Is Paying the IRS Early on Purpose
Original: Why a 62-Year-Old Couple With $1.4 Million Is Paying the IRS Early on Purpose
A 62-year-old couple with $1.4 million saved is deliberately paying taxes to the IRS ahead of schedule, a personal finance strategy aimed at managing retirement withdrawals and tax brackets. The approach highlights how retirees near retirement age try to reduce future tax burdens by converting or claiming income in lower-tax years rather than waiting until required withdrawals begin.
Why now: Retirees are looking for tax strategies as they approach required minimum distribution age.
Evidence
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