When Must You Pay Roth Conversion Taxes? - 371
Your Money, Your Wealth
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Is It Possible to Pay the 24 Thousand Plus the Tax From the Additional Withdrawal to Pay Them on Dec 30th?
A man converted from his traditional ira to a rothry. He is now in the 24% tax bracket, but wants to avoid penalties for late payments of taxes. Wil asks him if he should make quarterly payments or wait until later in the year. If you don't pay that one on time, then it's ten months at three %. A better way to do this would have been to convert 75 thousand dollars out of your retirement account.
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