Federal Income Tax

zero federal tax PLUS a state refund?

ESPlanner is telling me I'll pay virtually no federal taxes for the next 27 years. I'm also fortunate to be the projected recipient of annual NC state tax refunds amounting to $500 - $900 per year. I'm retired and will claim SS in another two years.

I can kind of see why I might pay little federal tax under SS rules for couples with relatively low "combined income" that might render half of SS un-taxable if I understand correctly. But zero? Is that a common result for someone in retirement?

Trying to reconcile tax figures

ESPlanners tax calculation is off by a few hundred dollars and I am trying to reconcile it with my tax statement.

I received 1570.00 in taxable refunds the year before, I tried entering the 1570 into special receipts and marked its tax status as ordinary.

The 1570.00 is not showing up in the Earned income column. How do I get the 1570.00 to show up in the earned income column.

Assumptions > Taxes - What does Percentage change in taxes really mean?

Under Assumptions > Taxes:
Is the data item "Percentage change in taxes" expressed in points or pct? If my marginal rate is 35%, would a 2% value in this field take it to:
- 37% (ie - a 2-point increase) OR
- 35.7% (ie - a 2% increase)
I'm guessing the latter, but it would be nice if the explanation in the online help would clarify that.


Federal Taxes - Joint Filer --- deductions

I don't understand how this report determines "Deduct". My interest, sale & real estate taxes and donations are about 18K now and I see $15.1K as a constant value over time. I understand the real cost of interest will decrease overtime.

As a result, at least in the near term, seems my deductions are understated. Is there a way to add in some tax deductions?

There appears to be no documentation on the report in the User Manual.



Tax Free (Until Withdrawal) Investment

How do you express/input after tax funds invested in a time locked investment which is sheltered from all taxes until it's withdrawn? I currently have it "other assets" but I fear that those funds are assumed to be subject to taxation during their tenure. There are several, each with a different date of maturity and rate of return. Perhaps they ought to be entered into 'Special Receipts' as non-taxable instead?

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