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General Household Data Points
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Gross Income Per MonthYearlyGross Income Total
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Primary Gross Income1$4,833.33 $58,000 $98,000
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Secondary Gross Income (If Any)2$3,333.33 $40,000
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Rental Income (If Any)3$0 $0
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Business Income (If Any)4$0 $0
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Child Support/Alimony (If Any)5$0 $0
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Total Gross Income6$8,167 $98,000 Additional Notes:
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Other Assets (Deductions)
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401k (TSP), 403b, 457b Contribution
Primary Income Provider		$750.00$9,000.00For 2019, the 401(k) limit for employee salary deferrals is $19,000, up from $18,500 in 2018. This 401(k) contribution limit is imposed by the Internal Revenue Service, which generally makes cost-of-living adjustments in the fall of each year. Catch-up contribution limits if you’re 50 or older in 2019 remain unchanged at $6,000 for workplace plans.
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401k (TSP), 403b, 457b Contribution
Secondary Income Provider		$625.00$7,500.00IRS Contribution Limit $19,000 for FY19. After surveying more than 1,000 employees currently contributing to an employer-sponsored 401(k) plan, Betterment found that nearly a quarter of respondents aren’t capitalizing on the opportunity: “89 percent of respondents were offered a 401(k) match by employers, but 23 percent didn’t take full advantage of it. Of those 23 percent, 16 percent don’t max out their match, and seven percent don’t know if they do.”
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Individual Retirement Account (IRA)
Traditional or ROTH for Primary		$185.00$6,000.00The annual contribution limit for 2019 is $6,000, or $7,000 if you're age 50 or older. The annual contribution limit for 2015, 2016, 2017 and 2018 was $5,500, or $6,500 if you're age 50 or older. Your Roth IRA contributions may also be limited based on your filing status and income. (Ref. Google - IRA Contribution Limits)
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Individual Retirement Account (IRA)
Traditional or ROTH for Secondary		$145.00$4,000.00IRS Contribution Limit $6,000 for FY19 (see Previous)
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Health Savings Account
for the Primary		$291.67$3,500.00The HSA contribution limits are set annually by the IRS; for 2019, they're $3,500 for self-only coverage and $7,000 for a family. In addition to these limits, HSA participants who are 55 or older can contribute an additional $1,000 as a catch-up contribution. In this example, HSA contribution is divided in two segments for the primary and secondary income provider (if any).
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Health Savings Account
for the Secondary		$291.67$3,500.00IRS Contribution Limit of $3,500 for FY19 (see Previous). Contributions to the HSA are 100% deductible (up to the legal limit) — just like an IRA. Withdrawals to pay qualified medical expenses, including dental and vision, are never taxed. Interest earnings accumulate tax-deferred, and if used to pay qualified medical expenses, are tax-free.
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Total Deductions
(Savings and Retirement Assets)		7$2,288.33$33,500.00Net Take-Home Total
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Estimated in Pay Period
Total Tax Rate		815%$54,825
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Estimated Net After Deductions9$5,878.33$64,500.00
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Estimated After Tax10$4,996.58$54,825.00
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