---
title: Taxes
description: Taxes
---

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# Taxes

#### This report breaks down annual taxes. We want to understand how much tax is paid from each source.

![Screenshot 2025-01-21 at 5.25.34 PM](https://help.wealthcentral.com/hs-fs/hubfs/Screenshot%202025-01-21%20at%205.25.34%20PM.png?width=670&height=341&name=Screenshot%202025-01-21%20at%205.25.34%20PM.png)

### What does each column on this report mean?

**Year** - Every year of the plan from the current year to the end of the plan

**Age** - Age of the client and co-client in every year of the plan

**Total Income Taxes** - Sum of all income taxes for the year

*Income Tax Breakdown* - Income taxes across different sources for each year

- **Transfer Taxes** - all Income Taxes on Current Income contributions and Transfers (including Roth Conversions)
- **Annuity Taxes** - all income taxes on GIA payouts, plus taxes on Taxable FIA/RILA distributions
- **Pre-Tax Dist Taxes** - all income taxes on distributions from pre-tax accounts. Does not include taxes on pre-tax GIAs. Does not include taxes on RMDs
- **SS Taxes** - all income taxes on SS incomes
- **RMD Taxes** - all income taxes on RMDs
- **FICA Taxes** - any FICA taxes on Payroll income
- **All other Incomes** - all income taxes on all other income types (like, payroll, pension, other)

**Total Capital Gains Taxes** - Sum of all capital gains taxes for the year

*Capital Gains Tax Breakdown* - Capital gains taxes across different sources for each year

- **Transfer Taxes** - all capital gains taxes on any transfers
- **Taxable Dist Taxes** - all capital gains taxes on taxable account distributions

**Total Taxes** - Sum of all Income Taxes and Capital Gains taxes

 

 

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