|
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2009
|
2010
|
2011
|
2012
|
2013
|
|
Age:
|
39/38
|
40/39
|
41/40
|
42/41
|
43/42
|
|
Income
|
|
|
|
|
|
|
Earned
Income
|
142,356
|
146,627
|
151,026
|
155,556
|
160,223
|
|
Adj
Gross Income
|
151,560
|
155,428
|
159,399
|
163,483
|
167,678
|
|
Allowed
Deductions
|
33,203
|
33,828
|
34,503
|
35,212
|
35,938
|
|
Pers
Exemptions
|
10,950
|
11,250
|
11,550
|
12,000
|
12,300
|
|
Taxable
Income
|
107,407
|
110,350
|
113,346
|
116,272
|
119,440
|
|
|
|
|
|
|
|
|
Qualified
Dividends
|
|
|
|
|
|
|
Total
Qual Dividends
|
819
|
868
|
0
|
0
|
0
|
|
|
|
|
|
|
|
|
Investments
|
|
|
|
|
|
|
Ordinary
Income
|
27,810
|
28,644
|
29,504
|
30,389
|
31,300
|
|
Depreciation
|
4,546
|
4,545
|
4,546
|
4,545
|
4,546
|
|
Invstmt
Interest
|
12,752
|
12,429
|
12,086
|
11,723
|
11,336
|
|
Other
Expenses
|
7,468
|
7,692
|
7,922
|
8,160
|
8,405
|
|
Alt
Min Tax Adjs
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
Inv
Int Disalwd E
|
8,045
|
14,812
|
20,242
|
24,276
|
26,846
|
|
Investment
Income
|
11,090
|
10,746
|
10,379
|
9,995
|
9,584
|
|
|
|
|
|
|
|
|
Investment
Interest
|
|
|
|
|
|
|
BeachHouse
|
12,752
|
12,429
|
12,086
|
11,723
|
11,336
|
|
Carryover
Sch E
|
0
|
8,045
|
14,812
|
20,242
|
24,276
|
|
Inv
Int Disalwd E
|
8,045
|
14,812
|
20,242
|
24,276
|
26,846
|
|
Inv
Int Disalowd
|
8,045
|
14,812
|
20,242
|
24,276
|
26,846
|
|
|
|
|
|
|
|
|
Tax
Preferences
|
|
|
|
|
|
|
BeachHouse
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
|
|
|
|
|
|
|
Tot
Tax Prefs
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
|
|
|
|
|
|
|
Federal
Tax Liab
|
|
|
|
|
|
|
Regular
Tax
|
19,227
|
19,738
|
20,249
|
20,736
|
21,280
|
|
Gross
Fed Inc Tax
|
19,145
|
19,651
|
20,249
|
20,736
|
21,280
|
|
Alt
Minimum Tax
|
3,149
|
4,040
|
4,988
|
6,001
|
7,252
|
|
AMT
Credit C/Over
|
0
|
0
|
3,149
|
7,189
|
12,177
|
|
Disallowed
|
0
|
-3,149
|
-7,189
|
-12,177
|
-18,178
|
|
Self
Employmt Tax
|
8,732
|
8,994
|
9,264
|
9,542
|
9,828
|
|
Fed
Income Tax
|
31,026
|
32,685
|
34,501
|
36,278
|
38,360
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E (cont.)
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2009
|
2010
|
2011
|
2012
|
2013
|
|
Age:
|
39/38
|
40/39
|
41/40
|
42/41
|
43/42
|
|
Fed
Tax Analysis-Ord Inc
|
|
|
|
|
|
|
Indexing
Factor
|
120
|
127
|
133
|
140
|
148
|
|
Fed
Tax Bracket-Ord Inc
|
25.0%
|
25.0%
|
25.0%
|
25.0%
|
25.0%
|
|
$
To Next Bracket
|
30,462
|
31,668
|
32,004
|
33,428
|
34,710
|
|
Next
Bracket
|
28.0%
|
28.0%
|
28.0%
|
28.0%
|
28.0%
|
|
Previous
Bracket
|
15.0%
|
15.0%
|
15.0%
|
15.0%
|
15.0%
|
|
$
To Prev Bracket
|
38,688
|
39,582
|
41,346
|
42,072
|
43,040
|
|
Fed
Effective Tax Rate
|
28.9%
|
29.6%
|
30.4%
|
31.2%
|
32.1%
|
|
|
|
|
|
|
|
|
Alt
Minimum Tax
|
|
|
|
|
|
|
Adj
Gross Income
|
151,560
|
155,428
|
159,399
|
163,483
|
167,678
|
|
Inv
Int Exp Sch E
|
12,752
|
12,429
|
12,086
|
11,723
|
11,336
|
|
Carryover
Sch E
|
0
|
8,045
|
14,812
|
20,242
|
24,276
|
|
Inv
Int Disalwd E
|
-8,045
|
-14,812
|
-20,242
|
-24,276
|
-26,846
|
|
Contributions
|
-1,236
|
-1,273
|
-1,311
|
-1,351
|
-1,391
|
|
Home
Mortgage
|
-12,609
|
-12,320
|
-12,013
|
-11,689
|
-11,346
|
|
Other
Qual Int
|
-12,752
|
-12,429
|
-12,086
|
-11,723
|
-11,336
|
|
Adjusted
AMTI
|
129,670
|
135,068
|
140,645
|
146,409
|
152,371
|
|
BeachHouse
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
AMT
Exemptions
|
-45,000
|
-45,000
|
-45,000
|
-45,000
|
-44,052
|
|
AMT
Taxable Inc
|
86,091
|
91,488
|
97,066
|
102,829
|
109,740
|
|
|
|
|
|
|
|
|
Gross
Alt Min Tx
|
22,294
|
23,691
|
25,237
|
26,736
|
28,532
|
|
Fed
Tax Less FTC
|
-19,145
|
-19,651
|
-20,249
|
-20,735
|
-21,280
|
|
Alt
Minimum Tax
|
3,149
|
4,040
|
4,988
|
6,001
|
7,252
|
|
|
|
|
|
|
|
|
Other
Tax Liabs
|
|
|
|
|
|
|
FICA/Soc
Sec Tax
|
8,084
|
8,327
|
8,577
|
8,834
|
9,099
|
|
NJ
Resident Income
|
172,826
|
178,856
|
185,075
|
191,495
|
198,119
|
|
NJ
Adjustments
|
-15,852
|
-16,327
|
-16,817
|
-17,322
|
-17,841
|
|
NJ
Res Gross Inc
|
156,974
|
162,529
|
168,258
|
174,173
|
180,278
|
|
NJ
Deds & Exmptns
|
-14,069
|
-14,069
|
-14,069
|
-14,068
|
-14,068
|
|
NJ
Resident TI
|
142,906
|
148,460
|
154,190
|
160,105
|
166,210
|
|
NJ
Resident Tax
|
5,121
|
5,427
|
5,779
|
6,156
|
6,545
|
|
New
Jersey
Tax
|
5,121
|
5,427
|
5,779
|
6,156
|
6,545
|
|
Tot
State/Local Tx
|
5,121
|
5,427
|
5,779
|
6,156
|
6,545
|
|
|
|
|
|
|
|
|
Total
Inc Tax
|
44,231
|
46,439
|
48,857
|
51,268
|
54,004
|
|
|
|
|
|
|
|
|
Gift
Tax Analysis
|
|
|
|
|
|
|
Gift
Exclusion Amount
|
14,000
|
14,000
|
15,000
|
15,000
|
16,000
|
|
Remaining
Gift Exemp-CL
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
|
Remaining
Gift Exemp-SP
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2014
|
2015
|
2016
|
2017
|
2018
|
|
Age:
|
44/43
|
45/44
|
46/45
|
47/46
|
48/47
|
|
Income
|
|
|
|
|
|
|
Earned
Income
|
165,030
|
169,981
|
175,080
|
180,333
|
185,743
|
|
Adj
Gross Income
|
171,989
|
176,416
|
180,968
|
185,642
|
190,443
|
|
Allowed
Deductions
|
36,684
|
37,449
|
38,234
|
39,039
|
39,864
|
|
Pers
Exemptions
|
12,600
|
13,050
|
13,500
|
13,800
|
14,250
|
|
Taxable
Income
|
122,705
|
125,917
|
129,234
|
132,803
|
136,329
|
|
|
|
|
|
|
|
|
Investments
|
|
|
|
|
|
|
Ordinary
Income
|
32,239
|
33,207
|
34,203
|
35,229
|
36,286
|
|
Depreciation
|
4,545
|
4,546
|
4,545
|
4,546
|
4,545
|
|
Invstmt
Interest
|
10,926
|
10,490
|
10,028
|
9,537
|
9,016
|
|
Other
Expenses
|
8,657
|
8,917
|
9,184
|
9,460
|
9,743
|
|
Alt
Min Tax Adjs
|
1,420
|
1,421
|
1,420
|
1,421
|
1,420
|
|
Inv
Int Disalwd E
|
27,885
|
27,319
|
25,075
|
21,073
|
15,229
|
|
Investment
Income
|
9,151
|
8,688
|
8,202
|
7,684
|
7,137
|
|
|
|
|
|
|
|
|
Investment
Interest
|
|
|
|
|
|
|
BeachHouse
|
10,926
|
10,490
|
10,028
|
9,537
|
9,016
|
|
Carryover
Sch E
|
26,846
|
27,885
|
27,319
|
25,075
|
21,073
|
|
Inv
Int Disalwd E
|
27,885
|
27,319
|
25,075
|
21,073
|
15,229
|
|
Inv
Int Disalowd
|
27,885
|
27,319
|
25,075
|
21,073
|
15,229
|
|
|
|
|
|
|
|
|
Tax
Preferences
|
|
|
|
|
|
|
BeachHouse
|
1,420
|
1,421
|
1,420
|
1,421
|
1,420
|
|
|
|
|
|
|
|
|
Tot
Tax Prefs
|
1,420
|
1,421
|
1,420
|
1,421
|
1,420
|
|
|
|
|
|
|
|
|
Federal
Tax Liab
|
|
|
|
|
|
|
Regular
Tax
|
21,839
|
22,382
|
22,941
|
23,553
|
24,142
|
|
Gross
Fed Inc Tax
|
21,839
|
22,382
|
22,941
|
23,553
|
24,142
|
|
Alt
Minimum Tax
|
8,696
|
10,225
|
11,809
|
13,413
|
15,116
|
|
AMT
Credit C/Over
|
18,178
|
25,430
|
34,126
|
44,351
|
56,160
|
|
Disallowed
|
-25,430
|
-34,126
|
-44,351
|
-56,160
|
-69,573
|
|
Self
Employmt Tax
|
10,123
|
10,427
|
10,739
|
11,062
|
11,393
|
|
Fed
Income Tax
|
40,658
|
43,034
|
45,489
|
48,028
|
50,651
|
|
|
|
|
|
|
|
|
Fed
Tax Analysis-Ord Inc
|
|
|
|
|
|
|
Indexing
Factor
|
155
|
163
|
170
|
179
|
187
|
|
Fed
Tax Bracket-Ord Inc
|
25.0%
|
25.0%
|
25.0%
|
25.0%
|
25.0%
|
|
$
To Next Bracket
|
36,045
|
37,583
|
39,166
|
40,597
|
42,271
|
|
Next
Bracket
|
28.0%
|
28.0%
|
28.0%
|
28.0%
|
28.0%
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E (cont.)
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2014
|
2015
|
2016
|
2017
|
2018
|
|
Age:
|
44/43
|
45/44
|
46/45
|
47/46
|
48/47
|
|
Previous
Bracket
|
15.0%
|
15.0%
|
15.0%
|
15.0%
|
15.0%
|
|
$
To Prev Bracket
|
44,005
|
44,917
|
45,834
|
46,903
|
47,829
|
|
Fed
Effective Tax Rate
|
33.1%
|
34.2%
|
35.2%
|
36.2%
|
37.2%
|
|
|
|
|
|
|
|
|
Alt
Minimum Tax
|
|
|
|
|
|
|
Adj
Gross Income
|
171,989
|
176,416
|
180,968
|
185,642
|
190,443
|
|
Inv
Int Exp Sch E
|
10,926
|
10,490
|
10,028
|
9,537
|
9,016
|
|
Carryover
Sch E
|
26,846
|
27,885
|
27,319
|
25,075
|
21,073
|
|
Inv
Int Disalwd E
|
-27,885
|
-27,319
|
-25,075
|
-21,073
|
-15,229
|
|
Contributions
|
-1,433
|
-1,476
|
-1,520
|
-1,566
|
-1,613
|
|
Home
Mortgage
|
-10,982
|
-10,597
|
-10,189
|
-9,757
|
-9,299
|
|
Other
Qual Int
|
-10,926
|
-10,490
|
-10,028
|
-9,537
|
-9,016
|
|
Adjusted
AMTI
|
158,535
|
164,909
|
171,503
|
178,321
|
185,375
|
|
BeachHouse
|
1,420
|
1,421
|
1,420
|
1,421
|
1,420
|
|
AMT
Exemptions
|
-42,511
|
-40,917
|
-39,269
|
-37,564
|
-35,801
|
|
AMT
Taxable Inc
|
117,444
|
125,413
|
133,654
|
142,178
|
150,994
|
|
|
|
|
|
|
|
|
Gross
Alt Min Tx
|
30,535
|
32,607
|
34,750
|
36,966
|
39,258
|
|
Fed
Tax Less FTC
|
-21,839
|
-22,382
|
-22,941
|
-23,553
|
-24,142
|
|
Alt
Minimum Tax
|
8,696
|
10,225
|
11,809
|
13,413
|
15,116
|
|
|
|
|
|
|
|
|
Other
Tax Liabs
|
|
|
|
|
|
|
FICA/Soc
Sec Tax
|
9,372
|
9,653
|
9,943
|
10,241
|
10,548
|
|
NJ
Resident Income
|
204,958
|
212,016
|
219,302
|
226,821
|
234,585
|
|
NJ
Adjustments
|
-18,376
|
-18,928
|
-19,496
|
-20,080
|
-20,683
|
|
NJ
Res Gross Inc
|
186,582
|
193,088
|
199,806
|
206,741
|
213,902
|
|
NJ
Deds & Exmptns
|
-14,067
|
-14,066
|
-14,064
|
-14,062
|
-14,060
|
|
NJ
Resident TI
|
172,515
|
179,023
|
185,742
|
192,679
|
199,842
|
|
NJ
Resident Tax
|
6,947
|
7,361
|
7,789
|
8,231
|
8,687
|
|
New
Jersey
Tax
|
6,947
|
7,361
|
7,789
|
8,231
|
8,687
|
|
Tot
State/Local Tx
|
6,947
|
7,361
|
7,789
|
8,231
|
8,687
|
|
|
|
|
|
|
|
|
Total
Inc Tax
|
56,977
|
60,048
|
63,221
|
66,500
|
69,886
|
|
|
|
|
|
|
|
|
Gift
Tax Analysis
|
|
|
|
|
|
|
Gift
Exclusion Amount
|
16,000
|
16,000
|
17,000
|
17,000
|
18,000
|
|
Remaining
Gift Exemp-CL
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
|
Remaining
Gift Exemp-SP
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2019
|
2020
|
2021
|
2022
|
2023
|
|
Age:
|
49/48
|
50/49
|
51/50
|
52/51
|
53/52
|
|
Income
|
|
|
|
|
|
|
Earned
Income
|
191,315
|
197,055
|
202,966
|
209,055
|
215,327
|
|
Adj
Gross Income
|
195,374
|
202,781
|
217,556
|
225,119
|
232,934
|
|
Allowed
Deductions
|
40,710
|
41,576
|
42,463
|
43,371
|
44,302
|
|
Pers
Exemptions
|
14,700
|
15,150
|
15,600
|
16,050
|
16,500
|
|
Taxable
Income
|
139,964
|
146,056
|
159,493
|
165,698
|
172,133
|
|
|
|
|
|
|
|
|
Investments
|
|
|
|
|
|
|
Ordinary
Income
|
37,374
|
38,496
|
39,650
|
40,840
|
42,065
|
|
Depreciation
|
4,546
|
4,545
|
4,546
|
4,545
|
4,546
|
|
Invstmt
Interest
|
8,463
|
7,875
|
7,251
|
6,590
|
5,886
|
|
Other
Expenses
|
10,036
|
10,337
|
10,647
|
10,966
|
11,295
|
|
Alt
Min Tax Adjs
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
Inv
Int Disalwd E
|
7,455
|
0
|
0
|
0
|
0
|
|
Investment
Income
|
6,556
|
8,284
|
17,207
|
18,739
|
20,338
|
|
|
|
|
|
|
|
|
Investment
Interest
|
|
|
|
|
|
|
BeachHouse
|
8,463
|
7,875
|
7,251
|
6,590
|
5,886
|
|
Carryover
Sch E
|
15,229
|
7,455
|
0
|
0
|
0
|
|
Inv
Int Disalwd E
|
7,455
|
0
|
0
|
0
|
0
|
|
Inv
Int Disalowd
|
7,455
|
0
|
0
|
0
|
0
|
|
|
|
|
|
|
|
|
Tax
Preferences
|
|
|
|
|
|
|
BeachHouse
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
|
|
|
|
|
|
|
Tot
Tax Prefs
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
|
|
|
|
|
|
|
Federal
Tax Liab
|
|
|
|
|
|
|
Regular
Tax
|
24,759
|
25,969
|
29,013
|
30,240
|
31,521
|
|
Gross
Fed Inc Tax
|
24,759
|
25,969
|
29,013
|
30,240
|
31,521
|
|
Alt
Minimum Tax
|
16,872
|
18,115
|
17,697
|
19,301
|
20,948
|
|
AMT
Credit C/Over
|
69,573
|
84,689
|
101,560
|
119,675
|
136,470
|
|
Disallowed
|
-84,689
|
-101,560
|
-119,675
|
-136,470
|
-152,993
|
|
Self
Employmt Tax
|
11,735
|
12,087
|
12,450
|
12,823
|
13,208
|
|
Fed
Income Tax
|
53,365
|
56,171
|
59,160
|
62,363
|
65,677
|
|
|
|
|
|
|
|
|
Fed
Tax Analysis-Ord Inc
|
|
|
|
|
|
|
Indexing
Factor
|
195
|
204
|
213
|
223
|
232
|
|
Fed
Tax Bracket-Ord Inc
|
25.0%
|
25.0%
|
25.0%
|
25.0%
|
25.0%
|
|
$
To Next Bracket
|
43,936
|
43,344
|
35,557
|
35,202
|
34,767
|
|
Next
Bracket
|
28.0%
|
28.0%
|
28.0%
|
28.0%
|
28.0%
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E (cont.)
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2019
|
2020
|
2021
|
2022
|
2023
|
|
Age:
|
49/48
|
50/49
|
51/50
|
52/51
|
53/52
|
|
Previous
Bracket
|
15.0%
|
15.0%
|
15.0%
|
15.0%
|
15.0%
|
|
$
To Prev Bracket
|
48,864
|
52,156
|
62,793
|
66,098
|
69,633
|
|
Fed
Effective Tax Rate
|
38.1%
|
38.5%
|
37.1%
|
37.6%
|
38.2%
|
|
|
|
|
|
|
|
|
Alt
Minimum Tax
|
|
|
|
|
|
|
Adj
Gross Income
|
195,374
|
202,781
|
217,556
|
225,119
|
232,934
|
|
Inv
Int Exp Sch E
|
8,463
|
7,875
|
7,251
|
6,590
|
5,886
|
|
Carryover
Sch E
|
15,229
|
7,455
|
0
|
0
|
0
|
|
Inv
Int Disalwd E
|
-7,455
|
0
|
0
|
0
|
0
|
|
Contributions
|
-1,661
|
-1,711
|
-1,762
|
-1,815
|
-1,870
|
|
Home
Mortgage
|
-8,815
|
-8,301
|
-7,758
|
-7,182
|
-6,573
|
|
Other
Qual Int
|
-8,463
|
-7,875
|
-7,251
|
-6,590
|
-5,886
|
|
Adjusted
AMTI
|
192,672
|
200,224
|
208,036
|
216,122
|
224,491
|
|
BeachHouse
|
1,421
|
1,420
|
1,421
|
1,420
|
1,421
|
|
AMT
Exemptions
|
-33,977
|
-32,089
|
-30,136
|
-28,114
|
-26,022
|
|
AMT
Taxable Inc
|
160,116
|
169,555
|
179,322
|
189,428
|
199,890
|
|
|
|
|
|
|
|
|
Gross
Alt Min Tx
|
41,630
|
44,084
|
46,710
|
49,540
|
52,469
|
|
Fed
Tax Less FTC
|
-24,758
|
-25,969
|
-29,013
|
-30,239
|
-31,521
|
|
Alt
Minimum Tax
|
16,872
|
18,115
|
17,697
|
19,301
|
20,948
|
|
|
|
|
|
|
|
|
Other
Tax Liabs
|
|
|
|
|
|
|
FICA/Soc
Sec Tax
|
10,865
|
11,191
|
11,526
|
11,872
|
12,228
|
|
NJ
Resident Income
|
242,600
|
250,877
|
259,422
|
268,246
|
277,360
|
|
NJ
Adjustments
|
-21,303
|
-21,942
|
-22,601
|
-23,279
|
-23,977
|
|
NJ
Res Gross Inc
|
221,297
|
228,935
|
236,821
|
244,967
|
253,383
|
|
NJ
Deds & Exmptns
|
-14,057
|
-14,054
|
-14,050
|
-14,046
|
-14,041
|
|
NJ
Resident TI
|
207,240
|
214,881
|
222,771
|
230,922
|
239,342
|
|
NJ
Resident Tax
|
9,159
|
9,645
|
10,148
|
10,667
|
11,204
|
|
New
Jersey
Tax
|
9,159
|
9,645
|
10,148
|
10,667
|
11,204
|
|
Tot
State/Local Tx
|
9,159
|
9,645
|
10,148
|
10,667
|
11,204
|
|
|
|
|
|
|
|
|
Total
Inc Tax
|
73,389
|
77,007
|
80,834
|
84,902
|
89,109
|
|
|
|
|
|
|
|
|
Gift
Tax Analysis
|
|
|
|
|
|
|
Gift
Exclusion Amount
|
19,000
|
19,000
|
20,000
|
20,000
|
21,000
|
|
Remaining
Gift Exemp-CL
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
|
Remaining
Gift Exemp-SP
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
1,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legend
Financial
|
|
|
|
|
|
|
Princeton, NJ 08540
|
|
|
|
|
|
|
|
S
U P P O R T I N G S C H E D U L E
|
|
Mathew
Retires at age 62
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mathew
& Tammy McCarthey
|
|
|
|
|
|
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
JOINT
|
|
Sample Plan
|
2024
|
2025
|
2026
|
2027
|
2028
|
|
Age:
|
54/53
|
55/54
|
56/55
|
57/56
|
58/57
|
|
Income
|
|
|
|
|
|
|
Earned
Income
|
221,787
|
228,440
|
235,294
|
242,353
|
249,623
|
|
Adj
Gross Income
|
241,009
|
249,350
|
257,973
|
274,184
|
280,639
|
|
Allowed
Deductions
|
45,252
|
46,319
|
47,314
|
48,801
|
49,660
|
|
Pers
Exemptions
|
16,950
|
11,700
|
12,000
|
12,400
|
12,800
|
|
Taxable
Income
|
178,807
|
191,331
|
198,659
|
212,982
|
218,179
|
|
|
|
|
|
|
|
|
Capital
Gains
|
|
|
|
|
|
|