I'm attempting to reconcile a client's income and expenses in order to give them a simplified breakdown for a particular year (2021). But the math isn't quite adding up.
In the tabular projections for income I see her income as $80,000, his income as $32,400, yielding $112,400 income.
Expenses are $7k roth contribution, $7,500 401k contribution, $30,960 personal property, $6,626 healthcare, $54,960 discretionary, $600 charity, federal tax $10,675, state $4,211, Medicare/SS $6,120, total $128,652.
So that means a $16,252 deficit. PRC agrees - I see that under Cash Flow on the Acct Summary tabular projections page as (16,252). I then see it wants a $14,852 withdrawal from the cash account on the Withdrawals page.
But that still leaves a $1,400 deficit. The only place I see that number for this year is in the Growth tab under Growth of Cash Account. Is that something that is meant to be withdrawn additionally, and the $14,852 is meant to show the decrease in account balance from prior year? If so, putting the $14,852 under 'Withdrawals from Cash Account' is a bit misleading.
Bill,
The specified withdrawals from the cash account include any growth amounts, so that's not the explanation. My guess is that you've got some other source of income, such as an RMD, that flows into the cash account and is covering $1400 worth of the spending deficit.
Stuart
