taxCFwork: Calculate Income after taxes during savings phase

In sstoeckl/pensionfinanceLi: Optimal Pension Decisions in Liechtenstein

Description

This function calculates income after deduction taxes during the cash-flow phase and is an important input parameter for the third pillar function 'tpCFwork()', where CF after tax is needed to determine consumption/saving. It further specifies which part of taxes should be paid from income and which part from liquid wealth

Usage

taxCFwork(income, liquid_wealth, illiquid_wealth)

Arguments

income	income before tax (vector or scalar)
liquid_wealth	liquid wealth at 1.1. of tax year (S3)
illiquid_wealth	illiquid wealth at 1.1. of tax year (w0)

Value

net (after tax) income payments, specifying which part should be paid from cash-flows (income) and from liquid wealth

Examples

taxCFwork(income=c(100000,100000,100000),liquid_wealth=c(100000,50000,-100000),
illiquid_wealth=c(100000,150000,100000))

sstoeckl/pensionfinanceLi documentation built on Dec. 2, 2020, 3:26 a.m.