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Retirement tax questions
Well before I put in any info about ira it said I owed 1800 in federal which I've never owed before and NY was giving me a 1300 refund. Maybe that's why numbers aren't right but yes I did click box 7 and code a previously I didn't and if I took 300k out it was 83646 for federal 22136 for ny then after I clicked box 7 code a it dropped it to 77534 fed 22136 state none of the state amounts changed though with any amount I put in to withdrawal just federal went down about 6k. I can put down a percentage to be withdrawal for federal and state on schwab papers should I just have them take out atleast 22% for federal and like 5% for state so at end of year I don't have to worry about coming up with that kind of money because I'm 38 and have maybe 10k to my name? If I work less to try to fall into a 2% lower tax bracket idk if I'd gain anything or not. I think I'll take out enough to stay in the 24% bracket this year and next year take other half. Thanks for the help