Rejected

:speech_balloon:

Change Tax treatment of income at milestone

My state (Maryland, USA) changes the treatment of pension income at age 65 - it becomes tax exempt under a certain amount. I propose adding the ability to toggle whether sometime is taxable or tax exempt at a designated milestone. My current workaround is to duplicate the income entry, one for before 65 that’s taxable, and one from 65 to end of plan that shows tax exempt at the state level. It would be nice to have one entry since it’s the same item.

1 vote

Tagged as Suggestion

Suggested 07 August by user Emma Antunes

Moved into Rejected 01 September

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  • 07 August Emma Antunes suggested this task

  • avatar
    Shawn @PL

    Hi Emma,

    I don’t think you need anything new for this. ProjectionLab should already handle this specific nuance in the tax code. Manually changing your pension income to tax-exempt could possibly lead to a less accurate plan. You will see this reduction today if you observe your State Taxable Income panel (to the right of the Plan), or by examining the tax treatment of your pensions in Tax Analytics.

    If you’re unsure, it’s best to take this up with support, preferably on Discord (https://discord.gg/dZQ5DDEmT7) #support channel, or shoot us an email if you have further questions. You can find links for both and other support resources under the “Support” tab at the bottom left of your screen.

    01 September

  • 01 September Shawn @PL approved this task

  • 01 September Shawn @PL moved this task into Rejected