No. of Recommendations: 8
I forgot to highlight this passage from the "Income Tax Hero" article.,0,185...

So while the Wrights took $26,300 from an IRA, which is taxable, it was a low enough income that it was canceled out by health care spending deductions and a $10,000 deduction on the fee the couple paid Friedman.


Wright was pleased and surprised that they'd owe no federal taxes this spring, and said he's very satisfied that the fee he pays to the firm is worth it.

"A lot of people hesitate to spend the money on a financial planner," he said. "This is one example, and I'm sure there are many, why it's well worth the expense."


If you're getting most of your income in qualified dividends taxed at a 0% rate, you'd really have to work to pay $10,000 in Federal income taxes. Balance that against a $10,000 annual fee to an advisor and you're behind.

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