Retiring soon-tax planner and lifetime planner

h stansfield

So to start, a relatively minor gripe: in the lifetime planner, it assumes that retirement happens on your birthday in the year you list as your retirement year. This is a long way from true in today, with SS retirement dates almost always in some odd month separate from your birthday. This should be fixed.

Now, the real question: I am retiring as of May 31. First, in the scheduled transactions section, there is no way that I have identified to show that my paycheck is going to end on May 31—so the detailed budget shows that income as 'actual' going forward. Again, a minor annoyance.

In tax planner, how can I show the (a) income from paychecks—with taxes—up through retirement date and anticipated SS income and witholding (I've filed a W4-V) as of estimated amounts now to keep track of things and potentially make adjustments now to make it come out right at the end of the year? (am I making sense, I'm not sure)

Q97

In the tax planner, under Wages > Wages and Salaries - Self > Quicken Data (from 2024), you can enter a (negative) Adjustment to cancel out the June thru December income from your paycheck, leaving you with only the income thru your May 31 retirement date. Similarly, under Withholding > Withholdings > SELF > Quicken Data (from 2024), you can enter a (negative) Adjustment to cancel out the June thru December federal income tax from your paycheck. Then under Bills & Income, you can create an Income Reminder for your SS income and withholding starting on the appropriate date. It's a bit kludgy, but it should get your tax estimate pretty close.