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The concept of Roth IRAs: You pay your income tax going in, rather than going out.
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At the same time, after tax reform investment income of the more middle income workers was increasingly not counted because a rising share of that income was held in IRAs or 401(k)s, and so not reported on income tax returns.
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Under current rules, people who inherit IRAs can "stretch" their withdrawals across their life expectancies, paying income tax only on the amounts they remove from the account and continuing the tax deferral on any earnings inside.
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Even more significantly, in its new budget the Administration repeated its proposal from last year that individual itemized deductions and certain income exclusions including pre-tax employee contributions to retirement plans and IRAs be allowed against only a 28% marginal tax rate.
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Hold them in your tax-exempt accounts (like IRAs) and the state tax problem--the fact that only Treasury interest is exempt from state income tax--ceases to be a problem.
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The same process of creating 1099 income creates good income for tax-exempt entities, which means it goes into 401(k)s, IRAs, as well as foundations, endowments, ERISA plans.
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