Accounting for pre-tax deductions from our paychecks

DaveJ_Oban

My wife and I are both salaried employees. Taxes, Soc. Sec., Health Insurance, Flex. Spending Account, and retirement deductions are subtracted from our paychecks pre-tax. When I set up Quicken, I linked it to our bank accounts and it recognizes the deposits made every two weeks (split into multiple accounts).
How can I account for those pre-tax deductions? I want to have a "full picture". Also, I am considering increasing contributions into one of the retirement plans and would like to see the impact.

markus1957

There is a paycheck function that allows any number of payroll deductions, both pre-tax and after tax. Look for a Paycheck Wizard link in Tools>Bill & Income Reminders>Income Reminder. Regular splits can't handle payroll tax implications, the wizard can.

The Lifetime Planner module will allow you to make some retirement plan contribution what if projections.

Bill & Income reminders can help manage cash flow projections in your account(s).  For example, Lifetime Planner will show the impact of making the higher retirement plan contribution long-term whereas the Projected Balances module will show if you can afford to make the increased contribution and still pay the bills short-term.

If your Bill & Income reminders are comprehensive enough, the Tax Planner module will provide a pretty good estimate of your end of year federal tax obligation.