|
I have a question for any of you tax experts. Well, you dont need to be an expert...just have a good guestimate I suppose.
What I want to know is this: If I have an income in retirement of $215,000, how much income will I have after taxes?
I know there are a million things to factor in but Im hoping to come up with a ballpark figure based on averages.
The income will be coming from these sources:
~50% from 401k
~40% from regular taxable accounts
~10% from Roth IRA
Assume we will not own a house so I will use a standard deduction (married). We will have one other dependant for a couple more years.
This years TurboTax shows I had an effective tax rate of 13.7%. Im looking for something like this if its possible. Is there any way to get an estimate of my future effective tax rate 7 years from now (assuming tax laws are the same as today of course). Off the top of my head Im guessing it will be closer to 20%?
If I just go to turbo tax and type in these numbers and assume my income is W-2 income will I get anywhere close?
|
Threaded Mode
