Search found 5 matches
- Tue Jun 30, 2020 6:19 pm
- Forum: General questions and comments
- Topic: FRP Taxes (Need to Compute Taxes Paid each Year)
- Replies: 11
- Views: 34182
Re: FRP Taxes (Need to Compute Taxes Paid each Year)
@target2019 The column entitled After Tax Income indeed does sum the pre-tax inputs entered as Additional Inputs and does implicitly include a reduction for paid taxes in the year the income was received. So to compute how much the reduction is (i.e., taxes paid on that taxable income), we can compu...
- Tue Jun 30, 2020 6:44 am
- Forum: General questions and comments
- Topic: FRP Taxes (Need to Compute Taxes Paid each Year)
- Replies: 11
- Views: 34182
Re: FRP Taxes (Need to Compute Taxes Paid each Year)
So if I understand you correctly, there are 4 components that must be summed to determine total annual taxes paid: Tax Paid (yearly) = Taxes on Portfolio Growth + Taxes on RMD + Taxes on Withdrawal + [ Tax on Taxable Income (see below) ] where Tax on Taxable Income = Taxable Income - After Tax Incom...
- Mon Jun 29, 2020 7:59 pm
- Forum: General questions and comments
- Topic: FRP Taxes (Need to Compute Taxes Paid each Year)
- Replies: 11
- Views: 34182
Re: FRP Taxes (Need to Compute Taxes Paid each Year)
Oh I see. Thanks for clarifying what isn't readily available in columned data. I do think improving tax reporting would be useful though. There are certainly other columns that are not nearly as important (IMO).
- Mon Jun 29, 2020 5:23 pm
- Forum: General questions and comments
- Topic: FRP Taxes (Need to Compute Taxes Paid each Year)
- Replies: 11
- Views: 34182
Re: FRP Taxes (Need to Compute Taxes Paid each Year)
Jim, I will send you a request by email for the beta version fix on taxes computed on portfolio growth. Look for it please. But that alone doesn't really answer my question. How can I compute a Total Taxes Paid for each year from the other columns? Is it as simple as Taxes on Portfolio Growth + Taxe...
- Mon Jun 29, 2020 3:35 pm
- Forum: General questions and comments
- Topic: FRP Taxes (Need to Compute Taxes Paid each Year)
- Replies: 11
- Views: 34182
FRP Taxes (Need to Compute Taxes Paid each Year)
Jim/Gentlemen, I am in the process of benchmarking my FRP model results against the Optimal Retirement Planner (ORP) which I have previously used for years but wanting to branch out a bit. Obviously there are a few differences between the two models/applications, but I am specifically having compari...