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TaxRobin
TaxRobin, Senior Advisor
Category: Finance
Satisfied Customers: 15732
Experience:  15 years of experience in financial advising with emphasis on tax issues.
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I need to withdraw from an ira and was wondering if I'm in

Customer Question

I need to withdraw from an ira and was wondering if I'm in the 25% tax bracket, should I have 25% federal and 25% state taxes withheld. the state tax part confuses me.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: recently divorced and go stuck with a lot of debt. I need to pay it off. I'm 68 years old, taking out $15000 to pay off the debt. I know I need to without 25% for federal since I'm in that tax bracket. but I don t' know how much to withhold for state. don't want to have to pay at the end of the year.
JA: Is there anything else important you think the Accountant should know?
Customer: no
Submitted: 2 months ago.
Category: Finance
Expert:  TaxRobin replied 2 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  TaxRobin replied 2 months ago.

What is your state?

Customer: replied 2 months ago.
Indiana
Expert:  TaxRobin replied 2 months ago.

Thanks, ***** ***** while I look up their rates...........................

Expert:  TaxRobin replied 2 months ago.

Indiana has a flat statewide income tax. 2017, that rate is 3.23%. However, many counties charge an additional income tax. What is your specific county so I can check on that please

Expert:  TaxRobin replied 2 months ago.

So far I can advice that 3.23% would cover your Indiana rate but without the specific county to see if their rate that is all I will be able to tell you.

Expert:  TaxRobin replied 2 months ago.

Any call offer is site generated, just ignore it. I need the county still though to advise on the full rate

Please let me know if you need more information.
If not then scroll up to see the STARS to rate so I am credited.

Expert:  TaxRobin replied 2 months ago.

Hi just checking back to see if you posted the specific county yet.

If you do not want to tell me your county (for some reason) I would suggest then that you have at least 5% withheld for state. Federal and state are totally different