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Anderson Hoagland and Co. lowered its stake in shares of Invesco National AMT-Free Municipal Bond ETF (NYSEARCA:PZA) by 73.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,554 shares of the company's stock after
One of the few downsides of passive income from stocks and bonds is that the income generated by those investments is subject to federal and state income tax.
For high earners hunting tax-free monthly income, the Invesco National AMT-Free Municipal Bond ETF (NYSEARCA:PZA) has become a reliable workhorse.
For decades, the playbook for high-income investors was almost reflexive: put municipal bonds in your taxable account, put Treasuries and corporates in your IRA.
A $75,000 salary sits at the top of the U.S. median household range, but for a retiree in a high federal and state bracket, replacing it with taxable income means earning much more before Uncle Sam takes his cut.
High-bracket retirees face a math problem that taxable bond funds cannot solve: every dollar of interest income gets taxed at the federal marginal rate, often layered with a state tax bite.
For investors in the top federal tax bracket, the Invesco National AMT-Free Municipal Bond ETF (NYSEARCA:PZA | PZA Price Prediction) offers something rare: a monthly paycheck the IRS cannot touch.
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