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New to Pralana-question about income taxes during retirement

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(@vrr106)
New Member Customer
Joined: 2 years ago
Posts: 1
Topic starter  

I have been test driving Bronze for a week and like what I see. One question which I hope is an easy one - do I need to factor in estimated income taxes during retirement as an "expense" or does it take care of taxes? I believe the latter but want to confirm. I am putting in my estimated tax rate during retirement, and I suppose it can calculate tax based on where I pull the money from during retirement (tax free/tax deferred/taxable account)


   
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(@smatthews51)
Member Admin
Joined: 4 years ago
Posts: 899
 

@vrr106 The tool tales care of the taxes based on the tax rate(s) you specify on the Home page.

Stuart


   
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(@hines202)
Honorable Member Customer
Joined: 4 years ago
Posts: 411
 

Gold is a huge leap from Bronze, and worth every penny. Correct, the tool will do the tax computation based on your inputs (in a few places). Explore every nook and cranny of the tool to get the best results. Check the tabular results->tax tab for details on taxes. Use View Management to remove columns that don't have info or are not of interest, in order to get a more concise view.


   
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