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Client Name
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Phone
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Email
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ZIP
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Choose type
of Tax Calculation :
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2022 Tax Form
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1040
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Deferred Scenario
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Line 5a
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Annual Social Security:
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Federal Tax
Bracket:
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One-half your Social Security benefit:
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Other Annual Income:
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Line 1
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Wages :
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Line 2b
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Taxable Interest :
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Line 2a
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Tax Exempt Interest :
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Line 3b
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Ordinary Dividends :
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Line 3a
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Qualified Dividend :
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Line 4b
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IRA, Pensions / Annuity Income :
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Line 10 (Schedule
1)
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Taxable refunds/credits :
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Line 11 (Schedule
1)
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Alimony :
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Line 12 (Schedule 1)
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Business
Income or loss :
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Line 13 (Schedule
1)
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Capital gain or loss :
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Line 14 (Schedule
1)
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Other gains or losses :
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Line 17 (Schedule
1)
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Rental ,
royalties, partnerships, S corp, trusts :
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Line 18 (Schedule
1)
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Farm income or loss :
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Line 19 (Schedule 1)
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Unemployment
compensation :
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Line 21 (Schedule
1)
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Other Income :
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Tax Deferred
Interest :
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Roth & Excluded Income :
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Total
Provisional Income
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Provisional Income* Less than
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= No Tax
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Provisional Income*
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Taxable
Social Security
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Potential
Tax
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Provisional Income* Greater than
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Taxable
Social Security
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Potential
Tax
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2022 Federal Income Tax
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Income Subject to Federal Income Tax
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Potential
Federal Tax
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Potential
Income Tax Savings
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STRATEGIES
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Are you living on the interest income in
line 2b?
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For Tax
Exempt Interest in Line 2a: Consider
ROTH IRA for Tax Free income or SPWL for Cash, LTC/CC and Death Benefit.
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Do you have?
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Medicare Part B Premium
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Medicare Part D adjustment
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Discuss
Roth Conversion, Single Premium Immediate Annuity, Overfunded Life Insurance
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IRMAA Bracket
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*Provisional Income =
Adjusted Gross Income + Tax Exempt Interest for the year + 50% of Social
Security Income. Annuity earnings and
income are tax deferred until withdrawn.
This calculator hypothetically shows how Tax Deferred Account may be
used to reduce or eliminate the taxable amount of Social Security
Benefits. The analysis is based soley
on the information provided by you and may vary from your actual benefits or
savings results. The analysis may show the potential income taxes that you
could have saved, but will not reduce any taxes you owe now or reduce any
taxes you paid in previous years and is not intended to be used to avoid tax
penalties or represent tax or legal advice.
The calculator does not guarantee, offer, endorse or imply the
accuracy of any projection or that future tax reductions will occur. You should consult with your tax and legal
advisors regarding your individual situation.
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© 2019
Sandos Financial, Inc.
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