Cash: $ 2.20
Joined: 24 May 2012
|IRA ? Taxes ? Income ?
Please I need help !
I am already in retirenment age (almost 66) , and I am totaly lost .
I am a woman , and single .
I am still receiving modest alimony , which soon are going to be reduced if not eliminated .( my ex is going to be retired soon )
I took small , early social security for, 3 years now .
My taxes on alimony and ss benefits were about 600 dollars .
Now , because my private situation changed , I got extra "income" .
I put income in "" , because it is really small .
It is the rental income from apartment , which such apartment was returned to me .
With income benefits come property taxes , huge, and association fees,
bagatela 6000 a year .
Even with above deductions , income from renting puts me in another taxes
bracket, and my taxes are going to be about 4000 !
I am devastated .
I have 401 based on QDRO , which I just keep "there" , and was planning to start
to cash after 70 .
I am reading about IRAs accounts , but this is way to difficult for me
without help .
Tax deductable IRA contribution, would safe for me more than 1000 dollars in taxes this year , and every year till I still have alimony, 2 or 3 years , maybe .
This would be a fortune for me , but I really do not know how to approach this problem .
I live in small south american country and travel to US is out of reach for me
( I have dogs)
How to do it at all , open IRA , with whom, contribute money , rollover 401 , part of it ? And how to do it on Internet , can good soul help please ?