Ivan's AGI Is About $100,000 This Year,and His Typical Medical

True/False

Ivan's AGI is about $100,000 this year,and his typical medical expenses average about $4,000 per year.He will be in the 24% tax bracket.Ivan plans to partially retire next year at age 60 so he expects about a $60,000 reduction in AGI and his marginal tax rate to drop.Ivan will have about $1,000 of non-emergency dental work done in the next few months.Ivan should get the dental work done this year so he can enjoy tax savings at the higher tax rate.