LOL!
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 25, 2005
- Messages
- 10,252
I think some folks still do not realize how low an effective income tax rate that folks really are able to pay if they practice tax-efficient investing even in retirement. So to make people more aware, how about a poll?
Here are the rules: From your Federal return (Form 1040 and siblings), please take your "total tax" and divide by "adjusted gross income" and express as a percentage. This will not take into account non-taxable income such as tax-exempt dividends, foreign exclusion, 401(k)/403(b)/FSA/HSA exclusions, pre-tax health insurance premiums, and so on. But you can comment on those non-taxable income if you like.
This is about Federal income tax and not state tax nor sales tax nor property tax. FICA/medicare is a blurry area because some folks pay that with Form 1040 and some don't.
Do early retirees really enjoy low effective tax rates?
Here are the rules: From your Federal return (Form 1040 and siblings), please take your "total tax" and divide by "adjusted gross income" and express as a percentage. This will not take into account non-taxable income such as tax-exempt dividends, foreign exclusion, 401(k)/403(b)/FSA/HSA exclusions, pre-tax health insurance premiums, and so on. But you can comment on those non-taxable income if you like.
This is about Federal income tax and not state tax nor sales tax nor property tax. FICA/medicare is a blurry area because some folks pay that with Form 1040 and some don't.
Do early retirees really enjoy low effective tax rates?
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