Tax amount on $4800 pension check ?

[hardcharger]

Thinking of retiring with the $4800 pension amount when I hit 55 next year. Does anyone have any idea how much taxes would be ?

 

[burrheadd]

How would anybody stranger on the internet know how much your taxes are going to be?

 

[rod]

Thinking of retiring with the $4800 pension amount when I hit 55 next year. Does anyone have any idea how much taxes would be ?

Are you single?, married, --how many kids?---what kind of deductions? The main question is "have you ever paid taxes before? It don't sound like it.

 

[GameCockFan]

Best States to Retire for Taxes 2024 - Tax-Friendly States for Retirees

Some states have taxes that are friendlier to retirees' financial needs than others. Use SmartAsset's set of calculators to find out the taxes in your state.

smartasset.com

Click on your state, put in your pension, birth year, and any other income in the appropriate box and it will break down how much you state and federal

 

[Wally]

Thinking of retiring with the $4800 pension amount when I hit 55 next year. Does anyone have any idea how much taxes would be ?

Plan on around 22 percent Federal.

 

[Wally]

How would anybody stranger on the internet know how much your taxes are going to be?

Around $870 a week before state tax

 

[Jkloc420]

Thinking of retiring with the $4800 pension amount when I hit 55 next year. Does anyone have any idea how much taxes would be ?

14 percent

 

[Coldworld]

Are you single?, married, --how many kids?---what kind of deductions? The main question is "have you ever paid taxes before? It don't sound like it.

Shouldn’t the main question be “how many times have you been divorced?”

 

[Jetboat1]

Hopefully you will pay taxes till this last contract sinks UPS and cuts your pensions. Slowest peak ever. Keep an eye on profits.

 

[IVE GOTTA PACKAGE 4U]

View attachment 457420

Plan on around 22 percent Federal.

You aren't taking into account the standard deduction

 

[Wally]

Hopefully you will pay taxes till this last contract sinks UPS and cuts your pensions. Slowest peak ever. Keep an eye on profits.

Not a slow peak at all. What you are seeing is pvd drivers eating up stops.

 

[Wally]

You aren't taking into account the standard deduction
View attachment 457875

I would imagine much fewer itemize now with property tax and union dues off the list.

 

[IVE GOTTA PACKAGE 4U]

I would imagine much fewer itemize now with property tax and union dues off the list.

He needs to take that standard deduction off of his pension income to figure out his tax rate.

 

[Coldworld]

Hopefully you will pay taxes till this last contract sinks UPS and cuts your pensions. Slowest peak ever. Keep an eye on profits.

You can thank the company waiting until the last minute to negotiate the Teamster contract. Came to the table multiple times with joke offers that they knew would never be agreed on. Customers had no idea what was going to happen and many jumped ship…can you blame them?? Our feeder dept lost multiple cpu trailer pickups and I’m sure other areas did also. Oh, great job also throwing out there drivers pay and benefits packages…let’s piss off the customers even more knowing ups is raising your rates as we’re “making” 180k a year. They have fired 2500 mgt people this year and more to follow in 2024. Don’t think I would be that worried being a driver or inside employees with more than a year or two here…would definitely not want to be mgt right now. Saw them let go 2 DM’s just in my little sphere of the company along with some mgrs and full time sups.

 

[hardcharger]

View attachment 457420

Plan on around 22 percent Federal.

Thank you

 

[hardcharger]

Shouldn’t the main question be “how many times have you been divorced?”

A couple

 

[hardcharger]

Around $870 a week before state tax

Thanks.

 

[hardcharger]

Best States to Retire for Taxes 2024 - Tax-Friendly States for Retirees

Some states have taxes that are friendlier to retirees' financial needs than others. Use SmartAsset's set of calculators to find out the taxes in your state.

smartasset.com

Click on your state, put in your pension, birth year, and any other income in the appropriate box and it will break down how much you state and federal

Thanks. I'll do that

 

[Brownwind]

Thinking of retiring with the $4800 pension amount when I hit 55 next year. Does anyone have any idea how much taxes would be ?

Congratulations on your retirement. I hope you are able to

 

[Wally]

Thanks.

Minus the monthly health insurance cost if your local has that.