What do you spend on income taxes and health care combined?

[Winemaker]

About $27,000 in fed. tax, maybe $100 in state income tax, and about $17,028 for health care premiums. That doesn't include any copays, deductibles, (dental or eye doctor costs for me) or Rx costs. The good life is expensive; there's another one, but it isn't any good.

 

[Lakedog]

$10700 (Fed Income Tax) + $3500 (FEHB+Medicare) = $14200

 

[Still Learning]

$10,000 medical - $6,625 Fed/State tax refund + $6,000 property/school tax = $9,375.

 

[2017ish]

...

$110,538 Federal Income Tax (including for $497,612 Roth conversions. About another $4,000 for state income tax.

...

Interesting. We agonized over converting to the top of the 32% bracket and finally did so, after stopping at top of 24 for the first years of retirement. 35 was just a step too far for us, although it would have helped us to move the needle a bit more on the TIRAs.

You've got big cojones!

Traveling and no access to our data right now, so don't know what our healthcare costs were; somewhere in low five figures. So, all in, the 2 categories were six figures, but not by a lot.

 

[audreyh1]

Income taxes are all over the map depending.

 

[rodi]

Insurance $7317. That is family of 4. (I still pay premiums for older son even though he is independent.)

Federal Taxes: $7700 ish... haven't finalized my taxes yet. Still waiting on things that can swing the tax bill a lot like the 1095a.

So... around $15k total.

 

[teejayevans]

Odd combination of expenses?

 

[brett]

$34K income tax- total for two of us.

 

[Ronstar]

$3552 Medicare
$1512 Supp insurance

2020 paid $10,251 in Fed tax (had a $50k Roth conversion) and partial year of 2 SS's
2021 paid $8,732 in Fed quarterlies - No Roth, but full year of 2 SS's

No state income tax

 

[aaronc879]

Income tax is $200-300. Health insurance is free after ACA subsidies and I didn't go to the doctor all year so zero medical costs.

 

[aaronc879]

I’m the clear loser so far!

I'll trade you.

 

[Happyras]

A much better year than 2020 with no Roth conversions we only paid <6 figures in fed taxes, current estimate. Our Medicare Part B, D, and G was a little over low 5 figures for the 2 of us, what a bargain. So just about $6 figures total or 45% of our spending! IRMAA's are killer, while a large portion of that income basis is spent on other taxes, fed and NIIT. No hope for any reasonable Roth conversions for the next 3 years.

 

[jj]

$23,000 FIT
$27,500 Medical, dental, eyecare total cost (will itemize this year)
$ 9,500 Property taxes (no state income taxes)
----------
$60,000 Total

 

[Surewhitey]

Fed $16k after maxing out 401ks and HSA. $26K+26K+20% Biz profit + $6k HSA. No state... TX. Probably 20% more this year.

Health insurance, company subsidies brings it down to $27/mo...

 

[Mulligan]

Fed $16k after maxing out 401ks and HSA. $26K+26K+20% Biz profit + $6k HSA. No state... TX. Probably 20% more this year.

Health insurance, company subsidies brings it down to $27/mo...

Retired, single with pension. $8400 in health insurance, didnt use a penny of it or even go to doctor for that matter.
About $28k in income and cap gain taxes.

 

[CRLLS]

For 2:

Health = 7000 (Medicare part B, Plan G and Part D
Fed tax = 24000 (cashed in inherited non-qual annuities and a Roth conversion)
State tax = 0 (?) (haven't done it yet but all retirement income is not taxed)

 

[jollystomper]

For two of us in 2021:

Federal Income Tax: $15,793
State Income Tax: $6,460
Health Premiums: $11,465
Health co-pays, prescriptions, supplies: $6,505

 

[W2R]

I don't have the exact amount for 2021, because of Covid "brain fog" which resulted in no records of spending for about 3-4 months. So, these figures are for just the one of me in 2020:

Health care:....$5,706.37
Income taxes: $3,286.00
TOTAL:...........$8,992.37

Health care includes Medicare Part B and federal employee/retiree BCBS insurance premiums, along with my share of prescription cost plus the usual uninsured expenses.

Income taxes were unusually low in 2020. Average income tax is around 2-3 times as much.

 

[Brett_Cameron]

~$10k for medicare and supplements and vision and dental and retiree insurance for DS.
~$12k for Fed income taxes.

 

[tsoispf]

For the two of us in 2021:

Federal Income Tax: $13,096
State Income Tax: $5,881
Health Premiums: $4,080

 

[ExPatKiwi]

2021 actual and 2022 estimated while working

Fed Income Tax=$40,900
State Income Tax= $13,700
Health Insurance = $3,500

2023, 2024...spreadsheet estimates in retirement

Fed Income Tax = ~$8,000
State Income Tax = $0
Health Insurance = $3,500

 

[Time2]

Property tax $2,450 Home and separate property

Healthcare $12,315 Medicare, Plan B, Plan D and a BCBS policy on family.

Federal Tax $28,000 Did a Roth conversion up to 22% tax limit.
Total $40,315

 

[Livefree]

$166,000 State and Fed Taxes (sold a Rental Property in 2021)
$5562 Health Premiums for both of us

 

[ShokWaveRider]

$11,662.12

Taxes & all HC for 2.

 

[Cobra9777]

I'll play. This is for two people in 2021:

Federal Income Tax: $33.4K
State Income Tax: $0 (Texas)
Health Insurance Premiums: $6.7K
Health OoP: $3.1K

Federal tax is mostly driven by large Roth conversions to the top of the 22% bracket. Without any conversions, our Federal tax would be about $6K for 2 pensions.

We both have pre-Medicare retiree health insurance provided by our former employers. It's the same group insurance we each had while working. DW pays about $360/mo for a silver plan. I pay about $200/mo for a HDHP.

OoP includes deductibles, copays, coinsurance, prescriptions, dental, and vision. Most of the $3.1K was for DW's cataract surgery.