figure out how much money I will need to save if i wan't to retire with $1,000,000. Can someone please help me muliply the marginal tax rate and total monthly expenses to calculate montlhy taxes?

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Multiply the marginal tax rate and the total monthly expense amount to calculate monthly taxes. Add monthly taxes to total monthly expenses to get total monthly need. This value is the total amount we need to fund retirement in today's dollars. Total monthly expenses: Marginal tax rate: Monthly tax amount: Total monthly need: Tax Table Taxable Income SO-10,275 $10,276-41,775 $41,776-89,075 $89,076-170,050 $170,051 - 215,950 $215,951-539,900 $539,901 and greater Tax Rate 10% 12% 22% 2496 32% 35% 3796 Multiply the marginal tax rate and the total monthly expense amount to calculate monthly taxes. Add monthly taxes to total monthly expenses to get total monthly need. This value is the total amount we need to fund retirement in today's dollars. Total monthly expenses: Marginal tax rate: Monthly tax amount: Total monthly need: Tax Table Taxable Income SO-10,275 $10,276-41,775 $41,776-89,075 $89,076-170,050 $170,051 - 215,950 $215,951-539,900 $539,901 and greater Tax Rate 10% 12% 22% 2496 32% 35% 3796

Answer rating: 100% (QA)

Solution To calculate the monthly tax amount well need to use the tax table you provided First lets ... View the full answer