How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask ShawnA Your Own Question
ShawnA
ShawnA, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Tax
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
15641319
Type Your Tax Question Here...
ShawnA is online now
A new question is answered every 9 seconds

Which way is best wife & I to w/d my rssp of approx 48000.

Customer Question

Which way is best for my wife & I to w/d my rssp of approx 48000. It is in my name. I am 70 she is 68... Wae need the money now or aleast part of it to put our house in order and are not interested in putting it I to riff and w/d over a long period of time. I need advise regarding what I give up by w/d it all verus say 15000 per year until it self ammortized. From what I understand the bold back is 21.5% at thiz level of w/d and 31.5 if i W/d itall if iam right! I am interested in whTMount I actually receive now using either option . What am I giving up or benifting from or loosing, for ex. regarding the Trillium Program & others progrms the govt offers to the us. Do I loose my seniors tax free amt or any art there of it.
is there any advance to putting it first in a rrif so we can income split concidering our incomes. Where does .Am I correct in the % of hold back. Where. Do I (we) stand when we file our taxes next yr. What will we owe or get back either way. My income is mXe up of vo t pension hzt and oas plus then balance is oi lroyzlties . My wife's is the same hzt & oas plus a out 600 p/m for work she does at the church. I need a tax expert please. Thank You. We live in Ontario,Canada
Submitted: 1 year ago.
Category: Tax
Expert:  ShawnA replied 1 year ago.

Would you prefer a call?

Related Tax Questions