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Hello JA Customer,
Do you file your taxes as single or married?
Is any of the $43,500 income from SS benefits? If so, how much each year do you receive from SS?
Hello again JA Customer,
When you receive SS benefits, you are only allowed to have a certain amount of other income before part of your SS also becomes subject to tax. If you are going to have a total of $22,284 in SS benefits plus another $21,216 in other income (including your IRA withdrawals), this will mean that $3,679 of your SS is also subject to tax. This would give you total taxable income for the year of $24,895. Your taxes on that amount would be $1,703.
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Thank you JA Customer