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Taxable Social Security, & Employer Pension Plan? California

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  • Taxable Social Security, & Employer Pension Plan? California

    Hi all

    I will be collecting 27k in Social Security & 15k from my employer pension plan, starting in October of 2017.
    My two questions are:

    1-What will be Taxable?
    2-If Taxable, what rate?

    Thank you,

    lgs

  • #2
    Generally all your employer pension plan will be taxable unless you put it in after tax or Roth and those would be deferrals into a 401(k). If your pension plan a 401(k) or is it a traditional pension plan? Your income tax rate will depend on your personal tax actuation

    Can't help you on the Social Security side.

    I highly suggest you speak with a financial person/accountant in your state. They should be able to help you calculate what kind of taxes you will owe.
    Last edited by hr for me; 05-14-2017, 02:24 PM.

    Comment


    • #3
      https://www.irs.gov/uac/newsroom/are...nefits-taxable
      "Reality is that which, when you stop believing in it, doesn't go away".
      Philip K. **** (1928-1982)

      Comment

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