1
vote
0answers
58 views

401k strategy for NRI planning to return to india

Scenario is for L/H visa holder who is earning salary in USD. The person also has employee sponsored 401k plan. The visa expires in 5 years and person would like to return at that time to India ...
4
votes
2answers
636 views

Any downsides to having both 401k AND Roth 401k

So currently I have a 401k, I went ahead and added a Roth 401k while I'm eligible, beyond the fact I'll have to pay tax on the contributions now without the tax on withdrawal later in life you'd see ...
1
vote
3answers
118 views

Using matching on 401k and then cashing out

I realize that if I "cashed out" on a 401K early, I end up having to pay taxes on the cashed out 401K savings. But, I would have had to pay taxes on that 401K amount if I had not put into savings ...
2
votes
1answer
60 views

Does non-taxable income apply before or after (not at all) taxable income for purposes of tax brackets?

The context of this question is looking at retirement and 401k/Roth. I am currently contributing to both. I was wondering when I start withdrawals of the traditional if these withdrawals are taxed at ...
3
votes
2answers
103 views

How Do I Fix Excess Contribution Withdrawl

This is a kind of a straight forward situation but I made it little complex due to my limited knowledge of Traditional IRA and 401(k). In the year 2012, I was working as a contractor. I had a ...
4
votes
3answers
311 views

Allocation between 401K/retirement accounts and taxable investments, as a young adult?

I graduated college last year and began a career at a company with a 401K option. I cannot pull any money out of the Roth 401K without tax consequences or a penalty. I am interested in starting a ...
1
vote
1answer
135 views

Is 401k employer match included in W2 Box 1?

Is 401k employer match included in W2 Box 1?
6
votes
1answer
168 views

My former employer made a mistake calculating my 401(k) contribution/match; what is my responsibility?

I just got a letter from my former employer stating that they had made an error in their 401(k) deductions in 2013. Briefly, they erroneously included my cell phone allowance as eligible pay for the ...
3
votes
1answer
652 views

How can an H-1B holder withdraw 401(k) balance before returning to home country? Taxes?

What is the process of withdrawing all monies from a 401k account? If a person is in the U.S. on an H1B visa, lives with a dependent wife (H4), worked for about 3 years (4% employer matching ...
5
votes
2answers
197 views

Too late to max-out my 401k but need an alternative to offset taxes?

I got 'double paid' for the first 7 month's of this year as my old job paid out severance and my new job paid me. My accountant has only just told me I will probably owe $15k in Federal taxes and ...
4
votes
1answer
201 views

Changed from job that had a 401K, and the new one doesn't. How do I answer when filing?

There is a question on the tax form when filing that asks "eligible to participate in a 401K plan at work?" [Yes/No]. I contributed to my 401k up until March. I then took a new job that does not ...
3
votes
1answer
149 views

401k tax advantage vs lower fees in taxable account

Is there a formula or rule of thumb to help determine when it's better to put money in a 401k, 403b etc. or a regular taxable account assuming similar investments and returns (for example the same ...
2
votes
1answer
327 views

What are the time limits on a 401k direct rollover?

Is there a time limit from the date you request a direct rollover from your 401k until your former employer completes the transaction? When does the 60 day rollover clock for the IRS begin?
6
votes
1answer
1k views

Tax implications for a 100% 401k contribution limit

My company permits a contribution of a 100% of the paycheck towards the 401k. My question is, if I were to pick a 100% contribution amount, would I be liable for any taxes in the number of paychecks ...
3
votes
3answers
322 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 ...
2
votes
1answer
127 views

Calculate the after tax cost of 403(b) contributions?

How can I calculate the value of the pre-tax benefit of contributing to my 403(b) plan through my employer? I am considering leaving this employer and want a value for how much this is worth in case ...
2
votes
2answers
85 views

Can I get a tax deduction for excess post-tax 401k contributions?

I recently left my employer, with whom I had a 401k account. For the year to date date, I had some post- and some pre-tax contributions to that account coming out of my pay. Since my new employer ...
5
votes
5answers
165 views

Non-tax advantaged investing over 401k situation

Is it worth bypassing a 401k in favor of a normal taxable investing account if you can contribute while in the 15% tax bracket and plan to retire in that bracket as well? After crunching some ...
3
votes
1answer
88 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 ...
2
votes
2answers
774 views

Pre-tax 401k and post-tax Roth 401k contributions commingled into same account? Tax treatment of withdrawals?

My employer recently began offering Roth 401k contributions. I decided to switch my contributions to the Roth 401k, figuring that it is impossible to guess what my tax situation will be in 25 years ...
5
votes
2answers
1k views

Optimal way for withdrawing vested company match from my 401k?

It's possible that I'll be laid off in a few months. Currently I have x + y in my 401k. x = my personal contribution y = my company match --> which is vested Soon I'll make a fairly big ...
5
votes
1answer
5k views

My bonus is taxed at a higher rate than my regular paychecks, so should I contribute 100% of my bonus to 401k?

Is there a tax advantage to putting 100% of my bonus into 401k? From looking at my pay stubs, my bonus gets taxed at a higher rate than my regular paychecks. And since traditional 401k contributions ...
3
votes
1answer
192 views

Former 401(k) plan closed and check mailed to me. Can I roll over this money and avoid paying tax?

My former employer's 401(k) plan has been terminated and I was mailed a distribution check with 20% tax withheld. However, I wanted to move my money into my current employer's 401(k) and not pay tax. ...
15
votes
2answers
1k views

Accidentally cashed out 401k instead of rolling it into an IRA. What do i do?

I've recently changed jobs (past two weeks) from an employer with a 401k to a new employer who does not offer any retirement accounts. I made a huge mistake and accidentally cashed out my 401k ...
4
votes
2answers
2k views

Can I be my own administrator for an Individual/Solo 401k?

I'm interested in creating a company and rolling my 401K into a Solo or Individual 401k so that I can have more control over my investments. From what I've seen so far, it looks like you need an ...
4
votes
3answers
8k views

Are 401k Employer Match amounts subject to FICA or any other tax?

When my employer makes a contribution to an employee 401k account, are any taxes payed by the employee (e.g. FICA)? And does the employer match amount show anywhere on the employee's W-2 or 1040?
3
votes
1answer
119 views

Lower my tax withholding liability and increasing my net worth

My goal here is to optimize my net worth, not cash on hand. With the understanding that higher net worth makes access to capital easier. So tax deferred options are appealing to me, as long as I can ...
3
votes
2answers
103 views

Is a pre-tax 401K, containing only treasury bonds, tax free on release?

In time-deferred pre-tax funds, such as 401K and IRAs, I understand that the contributions and capital gains tax is not paid until after they are released. In this case upon retirement/a certain age ...
3
votes
1answer
3k views

Are FICA taxes applied before or after contributions to a pre tax 401k?

When I make contributions to my employer's pre-tax 401k account, are FICA taxes applied before or after making the contributions?
5
votes
1answer
2k views

Foreign national currently working in U.S. & investing in 401(k) plan: How will taxes apply?

I am a foreign national currently working in USA. I am considering contributing around 5K to a 401K plan (with no employer match). I intend to return to my country in a few years (when I am in my ...
2
votes
3answers
2k views

Using bonus in a tax-efficient way with my 401k account? [duplicate]

Possible Duplicate: My bonus is taxed at a higher rate than my regular paychecks, so should I contribute 100% of my bonus to 401k? Is there any tax advantage that I can gain if I invest my ...
3
votes
1answer
269 views

Switched jobs & short on cash. Should I withdraw from 403(b) or borrow from 401(k)?

I switched employers a while back and obviously this resulted in a new place to throw my retirement money. Employer A was an academic institution so that money was in a 403(b), now I'm in your ...
27
votes
3answers
1k views

Recent graduate with new job: Choose Roth 401(k), or traditional 401(k)?

I just graduated, and I'm starting a new job soon. My employer has pretty good policy for matching 401(k) contributions, so I want to invest as much as possible, especially during this first year. My ...