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Level 1
posted Oct 22, 2025 9:43:54 AM

Retirement Taxes

My husband and I retired in late 2023. I am finding that we owe more taxes than we ever have. We both get social security and a pension from CalPers. This year, my husband started to pull monthly payments from his 401K. We do have taxes taken out of all our income. Any suggestions on how to help us pay less taxes?

0 2 1014
2 Replies
Level 15
Oct 22, 2025 10:05:46 AM

Have more tax withheld from the retirement income you are receiving to avoid a big amount owed at tax time.  You can have tax withheld from the pension and from the distributions from the 401k.     You can have tax withheld from Social Security.

 

How to get federal tax withheld from SS benefits

https://www.ssa.gov/benefits/retirement/planner/taxwithold.html

 

Level 2
Oct 22, 2025 10:26:37 AM

How do I figure out the amount of tax to be withheld from my pension and social security when also working in an as needed basis (<58 hous/month)