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Will
I be in a lower tax bracket when I retire? By The-Adviser.com - |
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SERVICES WHY US
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New York
- If your income in retirement does not decreases, it is a good
change that your tax bracket will not either. If you've saved
substantially during your working years, you may actually be in the same
or a higher tax bracket when you retire.
In order to calculate your exact tax bracket, you need to calculate what your known taxable income will be. This includes the following income:
Compare your retirement income with your pre-retirement income and adjust your deductions accordingly. Tax law and issues are every changing and is extremely complicated. Even if you always did your own taxes and plan on doing so when you retired, you should consulting with an independent Fee-Only financial adviser to ensure there are matters that you have not overlooked. About Us |
If you have a fully paid off home, the loss of the interest deduction may result in a higher taxable income when you retire? Got an investment question?
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