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Suppose Person C earns money in 2022, forever pays a 25% income tax rate and contributes $1,000 into a stock index fund. If C made
Suppose Person C earns money in 2022, forever pays a 25% income tax rate and contributes $1,000 into a stock index fund. If C made $50,000 and the $1,000 was invested via their Roth IRA, then how much do they pay in income taxes for 2022? Years later in retirement once that $1,000 investment has grown to $10,000 and C withdraws it.
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Step 1 In 2022 Cs total yearly income tax bill would rise to 12500 Because of the withdrawal C would not have to pay any taxes after they reached reti...
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
