Money put into retirement plans, political campaigns or charities are known as contributions. Questions here may be around the limits of how much one can contribute in various situations to various plans they may access.

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3
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1answer
94 views

Exempt income and Roth IRA contributions

So I am a student and will be making less than 6 thousand dollars this year, and so I'll be exempt from taxes. Can I use some of the money I make to contribute to a Roth IRA?
4
votes
1answer
178 views

Why is the total 401(k) contribution limit (employee + employer) so high?

The 2014 employee contribution limit is $17,500. The 2014 total contribution limit is $52,000. (Provided they're not capped earlier based on low income.) Meaning the IRS has left room for a ...
4
votes
1answer
76 views

What happens to the gains or losses made on the non-vested portion of a 401k after you leave your job?

If you leave a company that matched 401k contributions before the vesting schedule is complete, the non-vested money is returned to the employer. I'm curious what happens to the gains/losses on the ...
3
votes
1answer
94 views

Married couple, high combined income: Can we contribute to IRA, on top of 401k?

My wife and I earn between $180,000 and $210,000 combined. The amount varies due to job changes and side consulting. She puts about 4% of her salary into a 401k which is fully matched. I put in 6% and ...
0
votes
1answer
52 views

Selling within a Roth IRA and contributing the same year?

If I contribute $5500 into my Roth IRA at the beginning of 2014, but sell $5500 in July, does my contribution amount go to $0, and I can reinvest $5500 later the same year? Or does the contribution ...
3
votes
1answer
66 views

Max up HSA contribution for 2013

I and my employer made less than $3250 contribution to my HSA in 2013. I heard that I could still make contribution for 2013 before 4/15/2014. If this is true, and I deposit my personal money to HSA ...
4
votes
3answers
512 views

How to diversify IRA portfolio given fund minimum investments and IRA contribution limits?

I recently opened a Roth IRA. Most of the funds at the fund company (Vanguard) have a minimum initial investment of $3000. The IRA contribution limit is $5500. This means I can only buy into one ...
6
votes
1answer
265 views

Already did my taxes for the year 2013 and received my return. Can I still contribute to my Roth IRA for the year 2013?

So I already did my taxes this year and received my return. I am curious if I am still able to contribute to my Roth IRA for the 2013 year even after having done so, as I understand you can contribute ...
1
vote
1answer
58 views

What are the exact catch-up IRA contribution age 50 limit rules?

If a person will turn 50 in the current tax year, can they make a catch-up IRA contribution for that tax year before they turn 50? Also, one site I found said age 50 1/2, so is it 50 or 50.5 years ...
2
votes
2answers
66 views

Is an in-kind transfer of existing shares into a Stocks and Shares ISA allowed, i.e. without selling + repurchasing?

Normally, the way to fund a Stocks and Shares ISA is to transfer money in, taking care to stay below the annual limit, and then purchase the stocks or funds from within the ISA. What happens, though, ...
1
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3answers
270 views

Why do employers require you to spread your 401(k) contributions throughout the year to get the maximum match?

I think the title says it all. I can't see any reason employers have to incentivize employees to contribute to their 401(k) evenly throughout the year. Instead couldn't they use a relatively simple ...
9
votes
3answers
194 views

Employer limits total 401K contribution to below IRS max. How can we max out our pre-tax contributions?

It looks like my wife's employer is limiting her 401K contributions to 15% of her salary. This means we cannot max out the $17.5K contribution limit set by the IRS. Say her salary is $70K and we are ...
2
votes
1answer
244 views

Contributing to a Roth IRA while income tax filing status is “Married Filing Separately”?

Most of 2013 I was married, though there was a portion of the year that I was single. Because my spouse and I have unusual work situations (mixture of self-employment, business ownership, and ...
2
votes
2answers
42 views

How are HSA contribution limits calculated when filing taxes jointly?

My wife and I both have HSA accounts, which we intend to max out. We are not dependents on either's accounts not any other dependents in each of the accounts. We also can easily max out the single ...
2
votes
1answer
59 views

When a 401k plan cites a percentage of salary, e.g. for matching, is it pre-tax, or post?

Referring to How 401(k) plans work: What does "pre-tax" really mean? Let's do the math to see the advantage of pre-tax saving. For example, you may decide you want to put $200 into your ...
3
votes
1answer
69 views

Initial investment limit for an HSA? An IRA?

A fairly simple question but I had troubles finding the answer. (Apologies if the answer is well-known.) HSAs have a yearly contribution limit, as do IRAs. However, is there a maximum limit for the ...
1
vote
1answer
61 views

Donations for a new computer taxation help?

I make music on youtube and my equipment is not the greatest. I would like to accept paypal contributions to help me get a better equipment. my question is do i need to declare these donations in my ...
4
votes
1answer
75 views

Why has the contribution limit for IRAs increased so much over the years?

According to Wikipedia the maximum contribution rate for a Roth IRA was 2000 dollars in 1998. In 2013 the contribution limit was 5500 dollars. This appears to be an increase of a little less than 7% ...
6
votes
1answer
59 views

Can I contribute my existing Treasury Bills into a Roth IRA?

Let's say I have paper 30yr treasury bills sitting in a safe that don't mature for 9 years. Can I place those bills into a Roth IRA? If so, are they valued against my contribution limit at face ...
3
votes
1answer
182 views

Does it make sense to max out contributions earlier in the year?

Let's say a person is making regular monthly contributions to his/her Roth IRA, HSA, and 401K with employer match, up to annual limits. All contributions are put into index funds. Assuming this person ...
5
votes
0answers
69 views

Can I make a final RRSP contribution after moving to the U.S.?

I moved from Canada to the U.S. (California) in August 2013. I am wondering whether I can make one final contribution to my RRSP account for the 2013 tax year (transferring between Canadian accounts) ...
3
votes
1answer
172 views

100% Contribution to 401K / Payroll Taxes

This is actually a followup question to a previous post: Tax implications for a 100% 401k contribution limit I mistakenly posted it there first as an answer. I'm new here ... Sorry! My question ...
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vote
2answers
552 views

How are employer matched contributions handled in rollover from Roth 401k to Roth IRA?

I recently asked this question: Can I do a Roth 401k rollover to Roth IRA and withdraw contributions I've made this year? In there, one of the answers pointed out that employer 401k contributions ...
0
votes
1answer
191 views

Will I face withdrawal penalties if my payroll processing company reverses an incorrect 401K contribution?

In my last paycheck, the payroll processing made an error and deducted an extra amount for the 401K from the paycheck. I caught it as soon as I checked the paycheck, but by the time someone got to the ...
3
votes
2answers
4k views

Over contribution to 401K between two employers, and maximizing employer match? [duplicate]

I have a situation like this: I worked for an employer this year from January to May and contributed $14,500 to my 401K. There was no matching from this employer. In mid-May time frame, I changed ...
3
votes
3answers
297 views

How to calculate tax amounts withheld on mixed pre-tax and Roth 401(k) contributions, and match?

My employer matches dollar for dollar up to 6% in our 401k. For simplicity's sake, I'll speak in round fictional numbers: So suppose my traditional 401k contribution has been $600/month, and the ...
3
votes
2answers
121 views

Move self-directed RRSP account to another institution while avoiding transfer out fee?

I'd like to move my self-directed RRSP account from one institution to another. My current broker charges the common $125 for transfer out using the T2033. To avoid this fee, I'm considering ...
2
votes
1answer
680 views

Can you replace Roth IRA contributions that you withdrew? [duplicate]

If I withdraw my Roth IRA contributions from previous years, is it possible to ever replace that money in the Roth IRA?
3
votes
1answer
87 views

Can I still deduct contributions to my Traditional IRA?

I worked as a consultant on W2 from January 2012 until October 2012. My company did not offer any 401k. In November 2012, I got a full time job and the new company offered a 401K and enrolled me in ...
4
votes
2answers
120 views

401k Catch up Provision - Limits on timing?

My girlfriend, a Highly Compensated Employee (HCE rules in effect), has her 401k contributions in check by her plan and HR. However, she is also 50+, thus eligible for the Catch Up provision for $5500 ...
3
votes
1answer
498 views

401k Contributions + Employer Match be greater than Maximum Contribution?

This year, 401k contributions are capped at $17,000 per person. So let's say somebody contributes this amount and is matched maybe 8% by their employer each contribution period. Can the total amount ...
6
votes
1answer
198 views

HSA qualification and contributing with multiple HDHPs?

So I've read the IRS publications and I'm still kind of confused. I have single coverage on my employer's health plan with a qualified HDHP and along with an HSA. This is pretty clear cut. I am ...
1
vote
2answers
224 views

Toward which year would an end-of-the-year 401k contribution apply?

Hypothetically, if a person's pay period ends on Dec 31st 2012, and they get that paycheck the next week (as in, 2013), which year's contribution limit would any 401k contribution be applied toward?
1
vote
1answer
67 views

Should I contribute to my RRSP or wait?

I am Canadian and I have a large amount of RRSP contribution room. I do have money to contribute, but I will have no taxable income this year. Should I make my RRSP contributions now, or save the ...
4
votes
1answer
148 views

Contribute to both a SEP IRA and solo Roth 401(k)?

I am self employed in a business venture. Could I theoretically contribute to a SEP IRA where the maximum contribution is $50,000 and to a Solo Roth 401k where the max contribution is $17,500? I ...
0
votes
1answer
76 views

IRA tax events and making the maximum contribution

I have a predicament: I planned to contribute the max of $5000 pretax dollars into my IRA, and I am receiving a distribution from someone else's IRA that I was the beneficiary of. I instructed this ...
3
votes
2answers
608 views

Mandatory 401k contributions when a company's plan provider changes?

My company is changing 401K providers. I know I must rollover my funds from the original co. to the new 401K provider, but I did not want to contribute any additional monthly monies to the new plan. ...
7
votes
2answers
236 views

How should I be contributing to my 401(k), traditional or Roth?

My company just started offering an 401k plan in place of a Simple IRA. I am able to contribute into my 401k two different ways, traditional or roth. From the way I understand it, traditional ...
17
votes
3answers
339 views

Why is there such disparity of max contribution limits between 401K accounts and regular IRA accounts?

In 2011, regular IRA accounts allowed only $5,000 maximum contribution, while 401K accounts allowed up to $16,500. Why is there such a disparity? Why do tax advantages favor employees of large ...
5
votes
2answers
595 views

Are 401(k) contribution limits for employee & employer separate? What about hitting the limit?

I am glad to see this forum. I have been reading a lot and have some questions about me specifically. I am 29 years old and have a 401(k) already with my company. I just started contributing 10% to ...
6
votes
3answers
1k views

How feasible would it be to retire just maxing out a Roth IRA?

How feasible would it be to retire on just maxed out Roth IRA contributions each year? Obviously this depends very much on how old you are when you start, and your living expenses when you retire. ...
1
vote
1answer
89 views

Can I elect for a deductible Traditional IRA contribution to be treated as non-deductible?

I made a $6k contribution to a traditional IRA in December 2010 for tax year 2010. I filed my tax return and incorrectly listed the contribution as a Roth contribution. Can I amend my tax return to ...
2
votes
2answers
762 views

401(k) contribution limits & job change: How to prevent over-contributing at new employer?

My wife is changing jobs, and we are trying to figure out how to deal with her 401(k) contributions. She contributes the maximum allowed, and depends on her employer to stop deducting when the limit ...
3
votes
1answer
120 views

Do contributions made to an “involuntary 401(a)” count against the limit for a Roth IRA?

At work I pay into an "involuntary 401(a)" retirement plan. I'd like to also open up a Roth IRA on my own. Do the contributions I make through my work plan count against the $5000/year limit on the ...
4
votes
1answer
97 views

Can I deduct a contribution to an IRA if I also contribute to a 401(k) in the same tax year?

Can I deduct a contribution to a traditional IRA if I am also contributing to a 401(k) in the same tax year?
17
votes
5answers
651 views

How much should I be contributing to my 401k given my employer's contribution?

I realize that this is similar to at least one question here, however, there are some differentiators. I can contribute a max of 5% of my net salary to the 401k fund. The employer matches 50% of ...
18
votes
2answers
251 views

Do traditional and Roth 401k have the same annual contribution limit?

According to everything I can find, the annual contribution limit for both traditional and Roth 401k is the same ($16500 in 2010). Since the Roth is post-tax, doesn't that mean I can save more for ...
2
votes
2answers
228 views

What happens if TFSA contribution limits are exceeded?

When CRA says the annual limit for a TFSA is $5000, what does it mean? What happens if I put in $6000. The gains will be taxed? How exactly? Divide the gains by 1/6, then tax the 1/6 part???
6
votes
1answer
1k views

Can I withdraw Roth 401k contributions penalty-free before age 59.5?

I know that with a Roth IRA, contributions can be withdrawn penalty-free at any time. If I rollover a Roth 401k into a Roth IRA, can I do the same with the contributions made to the Roth 401k? I've ...
9
votes
3answers
775 views

Who keeps track of my contributions to my Roth IRA?

Since withdrawals up to the amount you contributed in a Roth IRA are tax and penalty free, who keeps track of that amount? I've transferred my Roth IRA from one broker to another so the new broker ...