Planning to make a withdrawal from my SEP. How much tax should I plan to pay, The marginal rate (22%), the effective rate from last years filing or something else

I am over 60.

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Planning to make a withdrawal from my SEP. How much tax should I plan to pay, The marginal rate (22%), the effective rate from last years filing or something else

You would be taxed at your marginal tax rate for the tax year that it’s withdrawn.

Planning to make a withdrawal from my SEP. How much tax should I plan to pay, The marginal rate (22%), the effective rate from last years filing or something else

And depending on how much you withdraw, the distribution might increase your marginal tax rate.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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