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ABCD
1
201920182017
2
TOTAL INCOME:$54,230$49,582
3
Social Security Wages:$48,571$48,936
4
Medicare Wages:$48,571$48,936
5
Adjusted Gross Income (AGI):$43,097$45,969
6
Federal Taxable Income:$31,097$35,569
7
State Taxable Income:$3,408$15,712
8
OTHER INCOME:
9
Salary/Wages:$0$0
10
Taxable Interest:$246$253
11
Tax-Exempt Interest:$311$0
12
Ordinary Dividends:$1,741$216
13
Qualified Dividends:$1,471$177
14
Capital Gains:$1,890$0
15
DEDUCTIONS:
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Standard/Itemized Deduction:$12,000$6,350
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Capital Losses:$3,000$0
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SC 529 Contributions$28,000$0
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CREDITS:
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Foreign Tax Credit:$57$0
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TAXES:
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Social Security Tax (6.2%):$3,011$3,034
23
Medicare Tax (1.45%):$704$710
24
Federal Income Tax:$3,308$4,840
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State Income Tax:$14$604
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TAX RATES:
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Marginal Federal Tax Rate:12.00%15.00%
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Marginal State Tax Rate:3.00%7.00%
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Effective Tax Rate:11.05%17.45%
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Actual Tax Rate (including S.S. / Med.):12.98%18.53%
31
Actual Tax Rate (excluding S.S. / Med.):6.13%10.98%
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