When inputting yearly amounts for any pension and ss benefits, should the amounts be reduced by what estimated tax bracket I would be in?
So, for instance if my monthly pension will be $1200/month for a yearly amount of $14,400, and after retirement I estimate that my combined Fed and St (CA) tax bracket will be say 33%, should the amount I input into Firecalc be:
$14,400*(1-33%) = or $9648?
Thanks!
So, for instance if my monthly pension will be $1200/month for a yearly amount of $14,400, and after retirement I estimate that my combined Fed and St (CA) tax bracket will be say 33%, should the amount I input into Firecalc be:
$14,400*(1-33%) = or $9648?
Thanks!