As I was reading this article I had to laugh when I got to these two paragraphs:
–Know your limits. It’s good to know your tax bracket and whether or not you are on the verge of being in a higher or lower bracket. For example, the 25 percent federal tax bracket starts at $35,350 in income ($70,700 for couples filing jointly)and runs all the way up to $85,650 for single filers and $142,700 for joint filers. If you have multiple accounts, you can finesse your withdrawals to keep your marginal income below a bracket line.
– Don’t forget Social Security taxes. It is likely, though not certain, that you will have to include a portion of your Social Security benefits into your taxable income. If your income, including 50 percent of your benefits, exceeds $25,000 for singles or $32,000 for couples, then half of your benefits will be taxable. Once that figure exceeds $34,000 for singles and $44,000 for couples, 85 percent of your benefits would be taxable. That means you could end up giving back as much as 21 cents in taxes for every dollar in benefits you collect.
So of course I have to ask: What is $35,350? What is $70,700? Etc. etc!
35,350 United States silver dollars minted in 2012 AD have been given a regulated value of ONE DOLLAR by Congress according to 31 USC Section 5112 (d) and (e) and can be exchanged for 954,450 legal tender Federal Reserve Notes. Of course educated people (not the average person mentioned by the Rothsclids in 1863 in a letter to: Messieurs. Iklheimer, Morton and Vandergould, No. 3 Wall St., New York, U.S.A.) know that Federal Reserve Notes are not dollars and not even money, per se, according to the 3rd Circuit Court of Appeals.
So please remember when calculating ANY possible tax implications you may have that you need to FIRST AND FOREMOST find out what a dollar is. Don’t find out what “legal tender ” is because pennies dimes and quarters are legal tender but they are not dollars. Find out what the Congressionally defined and regulated monetary measurement unit known as the United States dollar is equal to. The retirement you save may be your own.