Forbes Article Rating

What Taxes Will You Owe On Retirement Income?

Nov 02, 2022 View Original Article
  • Bias Rating

    20% Somewhat Conservative

  • Reliability

    N/AN/A

  • Policy Leaning

    20% Somewhat Conservative

  • Politician Portrayal

    1% Positive

Bias Score Analysis

The A.I. bias rating includes policy and politician portrayal leanings based on the author’s tone found in the article using machine learning. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral.

Sentiments

Overall Sentiment

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  •   Conservative
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Bias Meter

Contributing sentiments towards policy:

67% : Having some diversity of taxation on your retirement income is usually good.
53% : You will owe taxes on your Social Security benefits when your income exceeds a total income threshold each year.
51% : Roth IRAs and a Roth 401(k) are funded with after-tax dollars, meaning your withdrawals can be tax-free in retirement.
50% : Each year about half of Social Security recipients will owe federal income taxes on this portion of their retirement incomes.
49% : If you own a non-qualified annuity, you should work with your tax-planning financial planner to develop a strategy to make withdrawals as tax efficiently as possible over time.
48% : Taxes can take a big bite out of your retirement income.
46% : Contributions to these plans were excluded from your taxable income, and the IRS wants to collect taxes once you finally make withdrawals.
38% : This results in more of you hard earned money being used to pay taxes.
37% : It can also help you avoid being shocked at how much of your budget is eaten up by taxes and Medicare surcharges.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.

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