Thread: Help with Taxes

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  1. #1
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    Help with Taxes

    Greetings I have retired with a good pension. Within the last year I applied and after 6 mths i was able to get disability SS due to complications with diabetes. Due to my ss and pension together it put me close to my last working salary and Uncle Sam made me pay. Any suggestions what to do with some of my income to lesson the hit i am taking. Can I start a Roth or traditional IRA to defer money to. Any help to get me started in the right direction is appreciated.

  2. Stocks/Investments Moderator boneil's Avatar
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    #2
    Certified financial planner or a tax consultant
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  3. Electrical/Wiring/Trolling Motors Moderator CatFan's Avatar
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    #3
    If you have no earned income, you can't contribute to a traditional or a Roth IRA. Contributions to a Roth are taxed which makes it doubly out. That would seem to eliminate those options.

    Changing your legal residence to someplace with no state taxes like Florida might help some.
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