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  • Question

  • Gross or net income data

    Asked by a 79 year old man from Sewickley, PA on 6/29/2016

    Are in income numbers requested gross or net of taxes. If gross, how are taxes incorporated in your planning process?

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  • Categories: Retirement Planning, Retirement Calculators

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • Hi,

    Income numbers are gross - the system has some high level assumptions about tax rates which you can find on the Assumption page in the calculator - the link is on the dashboard https://www.newretirement.com/retirement-calculator/dashboard.aspx

    We're about to release some updates to the model which will refine the tax modeling, but it will still be a rough approximation.

    Hope this is helpful.

  • Login to rate this answer:   Answered on 6/29/2016
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.