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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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I am trying to prepare year, when my wife and I will both be

Customer Question

I am trying to prepare for next year, when my wife and I will both be retired. Our income should be between 75,000 and 80,000 dollars and would like to find out what the percentage for taxes should be. 65,000 is social security and other pensions and the balance is dividend and interest income. Our tax rate for 2015 was 15.4 %. When I tried to do an estimate, the figure I got was 1.2% . Is this correct?
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi. Dallas. My name is ***** ***** I will be happy to help you.

How much is your combined socials security income? Social security income is not taxed the same way as your other income. Dividends and long term capital gains also get a special treatment.