以下是我的计算。 I assume 28% highest tax bracket for your family. Note: This is your highest tax bracket, not the effective tax bracket. For most of the engineers, 28% is reasonable.
I also assume that your combined SS benefit is around $53K.
Here is how much the additional tax caused by SS benefit. If you got 64K in other income, 85% of SS is taxed. (pay $12600 for SS benefit alone)/This is the maximum tax you can pay on SSN benefit If you got 60K in other income, 80% of SS is taxed. (pay $11795 for SS benefit alone) ($2380 more than line below) If you got 50K in other income, 63.4% of SS is taxed. (pay $9415 for SS benefit alone) If you got 40K in other income, 47.4.4% of SS is taxed. (pay $7035 for SS benefit alone) If you got 30K in other income, 31.4% of SS is taxed. (pay $4655 for SS benefit alone) If you got 20K in other income, 15.3% of SS is taxed. (pay $2275 for SS benefit alone) If you got 10K in other income, 4.2% of SS is taxed. (pay $630 for SS benefit alone) If you got 00 in other income, 0% of SS is taxed. (pay $0 for SS benefit alone)
===
This means: For extra $60K income (other than SS benefit), you're going to not only pay 28% income tax on that, you will also have to pay additional $11795 on your SS benefit. This means your effective tax rate for the additional $60K income is 28%+ 19.65%= 48%.
Or in another word, for the additional $60K income, you can only keep $32K.
以下是我的计算。 I assume 28% highest tax bracket for your family. Note: This is your highest tax bracket, not the effective tax bracket. For most of the engineers, 28% is reasonable.
I also assume that your combined SS benefit is around $53K.
Here is how much the additional tax caused by SS benefit.
You are multiplying 28% directly against SS benefit. That is not how tax brackets work. First there is no 28% tax bracket. Second, how tax bracket works, for married couples. the first $19900 is taxed at 10%, the next $19900 to $81050 is taxed at 12%, from $81050 to 172750 is taxed at 22%. If you got 64K in other income, 85% of SS is taxed. (pay $12600 for SS benefit alone)/This is the maximum tax you can pay on SSN benefit If you got 60K in other income, 80% of SS is taxed. (pay $11795 for SS benefit alone) ($2380 more than line below) If you got 50K in other income, 63.4% of SS is taxed. (pay $9415 for SS benefit alone) If you got 40K in other income, 47.4.4% of SS is taxed. (pay $7035 for SS benefit alone) If you got 30K in other income, 31.4% of SS is taxed. (pay $4655 for SS benefit alone) If you got 20K in other income, 15.3% of SS is taxed. (pay $2275 for SS benefit alone) If you got 10K in other income, 4.2% of SS is taxed. (pay $630 for SS benefit alone) If you got 00 in other income, 0% of SS is taxed. (pay $0 for SS benefit alone)
===
This means: For extra $60K income (other than SS benefit), you're going to not only pay 28% income tax on that, (wrong again, that's not how tax bracket works, see comment above) you will also have to pay additional $11795 on your SS benefit. This means your effective tax rate for the additional $60K income is 28%+ 19.65%= 48%. (I don't know where 19.65% come from, so I give up).
Or in another word, for the additional $60K income, you can only keep $32K.
I agree that I used a lot assumptions in my calculation
You all know that tax calculation is not simple and I have to simplifed it to make my case, and here is my assumption
1) the $ amount I used in the calculation is assumed final taxable income (after all dedection & is in line 15 in 1040)
2) As I asid: the tax bracket (28%) is my highest tax bracket, not my effective tax bracket. please note, tax bracket change every several years & you have to make some assumption.
3) I used $53K SS benefit in the calculaton. $53000 Sn benefit is the one I assumed several years ago when I started plan my retirement.
SSI I assume you mean Social security, not Supplemental Social Income (SSI). SSA says
file a joint return, and you and your spouse have a combined income* that is between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits. more than $44,000, up to 85 percent of your benefits may be taxable.
Your combined income = adjusted gross income + interest + SS x 1/2 would be more than likely more than $44,000. keep in mind adjust gross income includes capital gain from your after-tax stock portfolio.
I cannot imagine you live by only $44,000 income per year.
楼下"北回归线的阳光" 的关于 SS 税的帖子其实是对的。
以下是我的计算。
I assume 28% highest tax bracket for your family. Note: This is your highest tax bracket, not the effective tax bracket. For most of the engineers, 28% is reasonable.
I also assume that your combined SS benefit is around $53K.
Here is how much the additional tax caused by SS benefit.
If you got 64K in other income, 85% of SS is taxed. (pay $12600 for SS benefit alone)/This is the maximum tax you can pay on SSN benefit
If you got 60K in other income, 80% of SS is taxed. (pay $11795 for SS benefit alone) ($2380 more than line below)
If you got 50K in other income, 63.4% of SS is taxed. (pay $9415 for SS benefit alone)
If you got 40K in other income, 47.4.4% of SS is taxed. (pay $7035 for SS benefit alone)
If you got 30K in other income, 31.4% of SS is taxed. (pay $4655 for SS benefit alone)
If you got 20K in other income, 15.3% of SS is taxed. (pay $2275 for SS benefit alone)
If you got 10K in other income, 4.2% of SS is taxed. (pay $630 for SS benefit alone)
If you got 00 in other income, 0% of SS is taxed. (pay $0 for SS benefit alone)
===
This means: For extra $60K income (other than SS benefit), you're going to not only pay 28% income tax on that, you will also have to pay additional $11795 on your SS benefit. This means your effective tax rate for the additional $60K income is 28%+ 19.65%= 48%.
Or in another word, for the additional $60K income, you can only keep $32K.
Assuming: $53K SS, $60K other income (not salary because you retired.)
Total income $113K. Minus standard deduction $25K. taxable is $88K.
Since 80% of SS is taxable, you have to deduct 20% of SS (53K x 20% = 11K) from the 88K.
So you end up with 77K taxable income.
77K taxable income takes you to 12% bracket. https://www.bankrate.com/taxes/tax-brackets/
Your tax should be around $8860 = $19000x10% + (77K-19K)x12%
Effective federal income tax rate is 7.8%. $8860/$113K.
It looks like you have no understanding on how 1040 form works.
楼下"北回归线的阳光" 的关于 SS 税的帖子其实是对的。
以下是我的计算。
I assume 28% highest tax bracket for your family. Note: This is your highest tax bracket, not the effective tax bracket. For most of the engineers, 28% is reasonable.
I also assume that your combined SS benefit is around $53K.
Here is how much the additional tax caused by SS benefit.
You are multiplying 28% directly against SS benefit. That is not how tax brackets work. First there is no 28% tax bracket. Second, how tax bracket works, for married couples.
the first $19900 is taxed at 10%, the next $19900 to $81050 is taxed at 12%, from $81050 to 172750 is taxed at 22%.
If you got 64K in other income, 85% of SS is taxed. (pay $12600 for SS benefit alone)/This is the maximum tax you can pay on SSN benefit
If you got 60K in other income, 80% of SS is taxed. (pay $11795 for SS benefit alone) ($2380 more than line below)
If you got 50K in other income, 63.4% of SS is taxed. (pay $9415 for SS benefit alone)
If you got 40K in other income, 47.4.4% of SS is taxed. (pay $7035 for SS benefit alone)
If you got 30K in other income, 31.4% of SS is taxed. (pay $4655 for SS benefit alone)
If you got 20K in other income, 15.3% of SS is taxed. (pay $2275 for SS benefit alone)
If you got 10K in other income, 4.2% of SS is taxed. (pay $630 for SS benefit alone)
If you got 00 in other income, 0% of SS is taxed. (pay $0 for SS benefit alone)
===
This means: For extra $60K income (other than SS benefit), you're going to not only pay 28% income tax on that, (wrong again, that's not how tax bracket works, see comment above) you will also have to pay additional $11795 on your SS benefit. This means your effective tax rate for the additional $60K income is 28%+ 19.65%= 48%. (I don't know where 19.65% come from, so I give up).
Or in another word, for the additional $60K income, you can only keep $32K.
大概最少也有二十五万左右因为401K有minimum withdrawal
You have no idea how effective tax rate is defined.
For 53K SS and 60K other income, I proved that you tax bill is $8860. Prove me wrong.
Don't care how you characterize that $8860 to prove whatever your point is.
You all know that tax calculation is not simple and I have to simplifed it to make my case, and here is my assumption
1) the $ amount I used in the calculation is assumed final taxable income (after all dedection & is in line 15 in 1040)
2) As I asid: the tax bracket (28%) is my highest tax bracket, not my effective tax bracket. please note, tax bracket change every several years & you have to make some assumption.
3) I used $53K SS benefit in the calculaton. $53000 Sn benefit is the one I assumed several years ago when I started plan my retirement.
Better and detail calculation can be found here
https://www.calcxml.com/calculators/how-much-of-my-social-security-benefit-may-be-taxed?skn=#results
My key point is:
如果你说出去22000（算是你看错的standard deduction,$25000 for 2022），38000的四分之一用来交9000元，那么我真不知道你的逻辑是怎么学的。你吃第三个馍吃饱了，不等于你白吃了前两个馍。你到手的钱是113K。
如果你不想拿社保金，尽管不去申请。那么60000元净收入减去25000，还有35000交税，可能税率有10%左右。
拿到了钱还要卖乖，说自己税多了。
It is good if you can have higher "other income"
It is much better if can have higher "other income" and still can reduce your tax leagally.
It is maybe too late if wait until you reqired.
老板搬个凳子和我解释ABC, 以后积极主动要加班。
standard deduction is 25000, not 22000.
SSI I assume you mean Social security, not Supplemental Social Income (SSI). SSA says
file a joint return, and you and your spouse have a combined income* that is between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits. more than $44,000, up to 85 percent of your benefits may be taxable.Your combined income = adjusted gross income + interest + SS x 1/2 would be more than likely more than $44,000. keep in mind adjust gross income includes capital gain from your after-tax stock portfolio.
I cannot imagine you live by only $44,000 income per year.
概念上讲当然挣得多一点，税多超过一点。
只要有米下锅，who cares？