Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Retirement (https://www.askmehelpdesk.com/forumdisplay.php?f=281)
-   -   Taxes taken from pension check (https://www.askmehelpdesk.com/showthread.php?t=731114)

  • Jan 29, 2013, 01:12 PM
    hoch1234
    Taxes taken from pension check
    Is there a suggested amount of taxes to be taken out of pension check when u claim single and no dependents check will amout to $4000 per month
  • Jan 29, 2013, 01:21 PM
    ebaines
    Depends on what other income you may have - investments, other wages, etc. - and what deductions or credits you may be entitled to. But if your total income is from this pension - amounting to $48K/year - and you don't itemize then your total federal tax bill will be about $5600/year. If you have them withhold about $470 per month for federal taxes, or 12% of the payment, you would be fine. Don't forget about any state/local income tax you may have to pay as well.

  • All times are GMT -7. The time now is 08:01 AM.