|
Need State Income Tax Calculator .............
05-25-2019, 07:34 AM
|
#1
|
Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Minneapolis
Posts: 1,172
|
Need State Income Tax Calculator .............
I was wondering if anyone here knew an on-line state income tax calculator. One that would have the feature of calculating how much of Social Security was taxable based on other income. Specifically for the state of Minnesota... I did manage to find one, but the results were so far off that it was laughable....
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
05-26-2019, 08:10 AM
|
#2
|
Dryer sheet aficionado
Join Date: Jan 2018
Posts: 33
|
https://smartasset.com/retirement/retirement-taxes
I've used this link to compare States. May not be detailed enough for what you want but you can play around with SS, pre-tax, public or private pensions, etc.
|
|
|
05-26-2019, 08:51 AM
|
#3
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Location: On a hill in the Pine Barrens
Posts: 9,720
|
Quote:
Originally Posted by Cut-Throat
I was wondering if anyone here knew an on-line state income tax calculator. One that would have the feature of calculating how much of Social Security was taxable based on other income. Specifically for the state of Minnesota... I did manage to find one, but the results were so far off that it was laughable....
|
I would use tax software and built-in estimator for next year state taxes. Another thing that would be very easy is open last year taxes and add in SSA amounts. In TurboTax I'd see an immediate change in the tax owed or refunded.
|
|
|
05-26-2019, 10:26 AM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Minneapolis
Posts: 1,172
|
Thanks for your Replies.
I found one that is fairly useful. --- It's got some inaccuracies and quirks, but I think it will serve my purposes.. https://www.irscalculators.com/tax-calculator
Turbo Tax was very painful, for someone that doesn't use it. I like the 1 page layout like the one above for rough estimating.
|
|
|
05-26-2019, 11:17 AM
|
#5
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,094
|
Quote:
Originally Posted by Cut-Throat
Thanks for your Replies.
I found one that is fairly useful. --- It's got some inaccuracies and quirks, but I think it will serve my purposes.. https://www.irscalculators.com/tax-calculator
Turbo Tax was very painful, for someone that doesn't use it. I like the 1 page layout like the one above for rough estimating.
|
Unfortunately this site has errors and the results can be WAY off.
I tried GA. and it says GA taxes capital gains at 20% (which may be true, but ruled out GA for me right away).
I then tried IL , plugged in our numbers and it was totally wrong for State tax, mostly because it taxed retirement money when it should not have.
I can make it get the right value for IL , by putting all IRA money, roth conversion, pension, and SS together in the SS field.
But this is not following the instructions (which should have changed when I picked the IL state).
So the issue for me is, unless I know the tax rules for a random State, I don't know if the numbers it shows are accurate, since the form is wrong for various States.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
|
|
|
05-26-2019, 11:29 AM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Minneapolis
Posts: 1,172
|
Quote:
Originally Posted by Sunset
Unfortunately this site has errors and the results can be WAY off...............................
So the issue for me is, unless I know the tax rules for a random State, I don't know if the numbers it shows are accurate, since the form is wrong for various States.
|
As I had said ...
But I have found it useful for my purposes for Minnesota, as it lets me override the deduction amount..... I did not even try it for other states....
|
|
|
05-26-2019, 11:31 AM
|
#7
|
Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 4,172
|
Quote:
Originally Posted by Cut-Throat
Thanks for your Replies.
I found one that is fairly useful. --- It's got some inaccuracies and quirks, but I think it will serve my purposes.. https://www.irscalculators.com/tax-calculator
Turbo Tax was very painful, for someone that doesn't use it. I like the 1 page layout like the one above for rough estimating.
|
CT........thanks for that link....had not seen that one before. Seems to be fairly close for CA......within a few hundred bucks so it seems to be taking out the SS which is not taxed. Don't why it didn't change the deduction automatically to the MFJ # since it got the Fed one right (almost).
For the Fed, the NIIT seemed to be off from the value that HRBlock, mortgage calculator 1040, and I got. Having to calculate your own ordinary income instead of entering int, div, QDIV, IRA/pension/SS separately is a annoyance that I would prefer to avoid.
|
|
|
05-26-2019, 11:48 AM
|
#8
|
Full time employment: Posting here.
Join Date: Dec 2012
Posts: 751
|
I've lived in GA for the past 30 yrs, the 20% Cap Gains tax is news to me.
In fact, post age 62, and especially post age 65, most retiree income is not taxed, and the highest percent is 6, not 20.
But hey, if it keeps the population down that is not home grown, as we have too much traffic congestion as it is, maybe I should say its' 40%
|
|
|
06-04-2019, 01:32 PM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
After you sort out state taxes, consider Taxcaster . It nailed my taxes for 2018 and H&R Bloch confirmed the estimate for 2019.
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
06-04-2019, 01:42 PM
|
#10
|
Thinks s/he gets paid by the post
Join Date: Jan 2007
Location: Minneapolis
Posts: 1,172
|
Quote:
Originally Posted by Ed_The_Gypsy
After you sort out state taxes, consider Taxcaster . It nailed my taxes for 2018 and H&R Bloch confirmed the estimate for 2019.
|
Yes, I've seen this one, and estimating federal is fairly straightforward... So, I have been looking for a State Income Tax Calculator/Estimator. (Minnesota is my state).
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|