Newbee tx question

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bebop86
Posts: 2
Joined: Sun Feb 11, 2018 8:50 pm

Newbee tx question

Post by bebop86 »

First time using this and it seems great- one question- on after tax income- I am putting income at $70K a year with a 22% income tax rate BUT in the column" after tax income" it shows around $63000- why does it not compute the 22% tax rate which would bring it around $55K- thank so much-
jimr
Posts: 821
Joined: Thu Feb 28, 2008 6:48 pm

Re: Newbee tx question

Post by jimr »

I'm getting $54,600 when I put income at $70k and income tax rate at 22%.

Could there be other income cash flows defined in additional inputs?
bebop86
Posts: 2
Joined: Sun Feb 11, 2018 8:50 pm

Re: Newbee tx question

Post by bebop86 »

thks- I think I figured it out- I put starting to take the income at 70 and I am 60 so I am assuming that the $63k i am seeing is after COLA is adjusted for that year-??? Does that make sense??- thks
jimr
Posts: 821
Joined: Thu Feb 28, 2008 6:48 pm

Re: Newbee tx question

Post by jimr »

Dollar amounts for future years are shown at their present (2018) value, so 70k in 10 years still shows up as $70k even though it is adjusted for inflation inside the simulation.

So I don't think that's what's causing the issue.
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