BREAKING NEWS
Get Ready for Tax Season: Helpful Calculators for Estimating Taxes in Retirement
As the clock ticks closer to tax season, retirees and pre-retirees are scrambling to understand their tax obligations in retirement. With the rise of online calculators, estimating taxes has never been easier. In this breaking news update, we’ll highlight the most helpful calculators for tax estimation in retirement, along with essential SEO tags for optimal search engine visibility.
Calculator 1: AARP’s Retirement Tax Calculator
The American Association of Retired Persons (AARP) offers a comprehensive retirement tax calculator that takes into account various factors, including income, assets, and deductions. This calculator provides a detailed breakdown of estimated taxes, including federal, state, and local taxes.
Calculator 2: NerdWallet’s Retirement Tax Calculator
NerdWallet’s retirement tax calculator is designed to help users estimate their taxes in retirement, considering factors such as Social Security benefits, pensions, and investments. This calculator also provides a comparison of different tax scenarios, allowing users to make informed decisions.
Calculator 3: Fidelity’s Retirement Tax Calculator
Fidelity’s retirement tax calculator is a user-friendly tool that helps estimate taxes in retirement, taking into account factors such as income, assets, and expenses. This calculator also provides personalized recommendations for optimizing taxes in retirement.
Calculator 4: Kiplinger’s Retirement Tax Calculator
Kiplinger’s retirement tax calculator is a powerful tool that helps users estimate their taxes in retirement, considering factors such as income, investments, and deductions. This calculator also provides a detailed breakdown of estimated taxes, including federal, state, and local taxes.
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Conclusion:
Estimating taxes in retirement can be a daunting task, but with the help of these calculators, it’s never been easier. By considering factors such as income, assets, and deductions, these calculators provide a detailed breakdown of estimated taxes, helping users make informed decisions about their retirement finances. Whether you’re a retiree or pre-retiree, these calculators are essential tools for understanding your tax obligations in retirement.
Share Your Thoughts:
What are your thoughts on these calculators? Have you used any of them to estimate your taxes in retirement? Share your experiences and insights in the comments below!
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Disclaimer:
This article is for informational purposes only and should not be considered personalized investment or tax advice. It’s essential to consult with a financial advisor or tax professional to understand your specific situation and make informed decisions about your retirement finances.
Any helpful calculators for estimating pretax income needed for a certain takehome retirement pay?
I am planning for retirement and am trying to figure out how much money I will need for expenses in retirement. The good news is I have a good sense of my take-home pay needs. The bad news is I am having a hard time working out what are my pretax income needs.
I found the smartasset paycheck calculator helpful in the past to estimate taxes on W-2 income but my retirement income will include stuff that isnt w-2 (social security, roth withdrawals, capital gains, plus a small state pension). Are there any calculators out there that can help with this?
View info-news.info by grumpyhost
As a retiree (12 years) I plan out my fiscal year by making a fake return on Turbo Tax. I know what my Social Security will be, I know what my RMD will be. That leaves interest income, taxable dividends and capital gains that I can tinker with.
I use the tax return to figure out how much in capital gains I can take and still keep my income below the threshold I need to get my meds paid for.
By using a fake return, I also now know to keep my interest earnings low because they are taxed higher than qualified dividends or capital gains.