Hopefully you have a good overall picture of what your annual retirement distributions will amount to. This is a good starting point to determine what percentage withholding to do based on your projected tax bracket. We have a great tool to help you estimate what your withholding needs to be.
You'll fill out a W-4P and be sure to remember that any Roth distributions are generally non-taxable. If your total income exceeds certain thresholds, it my cause a portion of your social security to be taxable. You could also consider doing withholding on your social security in addition to the retirement distributions.
In general, once you arrive at your estimated annual income and determine your tax bracket, you can estimate the percentage of withholding needed and then fill out the W-4P forms for the various retirement accounts with that percentage in mind. It will vary for the states, depending on which states you are referring to. Each state has their own tax brackets.
Thank you for joining us today @Life49Good, and hope this helps!
Cindy
**Please say "Thanks" by clicking the thumbs up icon in a post
***Mark the post that answers your question by clicking on the "Mark as Best Answer"
