boo taxes

[Boner_18]

I’ve been living under the impression that if I take my $90K a year (net) pension to California or New York that I will be paying income taxes.

Have I been wrong all these years?

In NY unless its a NY State pension you're taxed on it. You can probably exclude 20k and would pay about $3k in taxes on the remaining 70k subject to NYS income tax (not factoring in any other income).

 

[Tron]

In NY unless it’s a NY State pension you're taxed on it. You can probably exclude 20k and would pay about $3k in taxes on the remaining 70k subject to NYS income tax (not factoring in any other income).

It’s a Florida pension

Didn’t know I could potentially exclude $20K



I’m paying roughly $15K a year for health insurance. Would that change anything Bone Bone?

 

[Boner_18]

Federal income tax, maybe. Health insurance premiums (most unreimbursed medical expenses) are deductible to the extent they exceed 7.5% of AGI, provided you itemize. You might not itemize? No mortgage interest deduction if im remembering you're a renter?

 

[roguejuror]

I don't think Tron is itemizing

 

[betplom]

I don't think Tron is itemizing

I didn't think the lawyer was also an accountant.

 

[Archie]

barely a lawyer

e discovery relativity

 

[Boner_18]

Fucking boo taxes.