After-tax contributions, also known as voluntary contributions, are funds put into a retirement or annuity account after state and federal taxes have been paid. Withdrawal of these funds at a later time will not be taxed, making them increasingly popular. Pre-tax contributions mean that when the money is withdrawn, taxes will have to be paid […]
Calculating after-tax salary involves multiplying gross income by tax rates and subtracting the total deductions. Tax structures may vary, but the basic principles remain constant. It’s important to stay up-to-date with current tax rates and deductions to avoid penalties. When calculating salary after taxes, some basic mathematical equations are used. The figures needed to calculate […]
