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Re: I did our taxes last night...

By: DGpeddler in FFFT3 | Recommend this post (0)
Sun, 14 Feb 16 1:30 AM | 99 view(s)
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Msg. 19443 of 65535
(This msg. is a reply to 19440 by oldCADuser)

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I just figured my federal taxes
a short time ago. I will be
writing a check for $3,580.

Property taxes were paid last month.




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The above is a reply to the following message:
I did our taxes last night...
By: oldCADuser
in FFFT3
Sat, 13 Feb 16 10:45 PM
Msg. 19440 of 65535

I did our income taxes last night and when all the dust settled, we paid a total of 23.6% of our income in federal, state and payroll taxes. This does not include property taxes, sales taxes or any other use taxes, only taxes based on our incomes.

This was slightly more than last year. Of course, we expect this to be much less for the current year as I retired in January and am now living off our Social Security and my various pensions.

Once our 'wealth manager' gets things sorted out, we'll probably start taking a regular monthly payout from our investment accounts to supplement our income. Besides, my wife turns 70 1/2 this year so she'll be forced to start taking a percentage of her IRA's as cash payments. That won't be an issue for me until 2018.


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