Questions tagged [limits]

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1answer
170 views

Is it possible to own an unlimited number of companies?

Is there a limit to how many companies you can create or own? Such as Google owns Facebook, YouTube, Twitter, Google Play Store, Google Games, etc. But those are all branches of Google and not actual ...
1
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1answer
61 views

RRSP contributions in first 60 days of calendar year

RRSP contributions made in the first 60 days of the current calendar 2021, can be claimed in the prior year 2020, or later tax returns. Regarding RRSP contribution limits. If the contribution is made ...
8
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2answers
1k views

Why are excess HSA/IRA/401k/etc contributions allowed?

I accidentally made an excess contribution to my HSA (or my employer or HSA custodian made a mistake, it's still not clear). I know what I need to do to correct it, but I'm curious, why is that ...
0
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1answer
35 views

Rollover IRA and Roth IRA Contribution Limit?

I have a 401k from a prior employer that I quit from a couple of years ago. As I cannot invest in it any longer I have decided to move it into a "Rollover IRA". I already have a Roth IRA. ...
4
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6answers
477 views

cosign a car loan, what is true $ risk

I asked a question and I am asking same question from a different angle. For example purpose, If I have friend( know for 6-7 years), who came to USA recently ( and I happen to come 2-3 years ago), ...
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5answers
2k views

How does one get the 401(k) max contribution of 57K?

My understanding is that the max individual contribution for 2020 is $19,500. If employer match is 100%, that gets us to a total of $39,000. How does one max out the combined employer/employee ...
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0answers
23 views

Employee and employer 401k contribution limits [duplicate]

From my understanding, in 2020, the maximum an employee can contribute to their 401k is $19,500. The total contribution limit for an employee and employer combined in 2020 is $57,000. Now I understand ...
2
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1answer
25 views

Do I need to account for this year's RPP contributions when contributing to RRSP

I'm starting contributions to both a defined contribution RPP with employer matching and an RRSP account. I know my RRSP contribution room from last year's notice of assessment. What I can't find an ...
2
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3answers
95 views

Can I contribute to two different calendar years in an IRA?

I noticed that my broker allows me to contribute to both 2020 and 2021. I have already maxed out my 2020 IRA contributions. Since I cannot deduct anything from my income via these contributions due to ...
1
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1answer
66 views

For the $19.5k limit for 401K contribution in US for 2020, does that include the company matching? [duplicate]

I thought it doesn't include the company's matching, or does the $19.5k actually include the part that the company will match?
0
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1answer
86 views

The 50% 401K matching and 100% 401K matching can make the total contribution to $29,250 and $39,000, respectively?

Since there is a max for our contribution of $19,500, so (1) if a company matches 50%, that means the total max out at $29,250? On the other hand, (2) if a company matches 100% but only for 4.5%, ...
1
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1answer
134 views

Do we need to worry about “maxing out” our 401K limit and the company won't match their part any more?

Let's say, if the company would match my 401K contribution, up to 4.5%, and with the current 2020 limit of $19500 and $6500 for age 50 and above for catch up, it is $26,000. Each paycheck every two ...
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2answers
2k views

What is the difference between a stop order and a stop limit order?

New to this trading thing. I understand that a stop order will buy a stock if it hits the given amount that I want to pay. And I think I understand that a stop limit order will buy the stock if it ...
3
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2answers
115 views

Does employer matching in a 403(b) account count toward the individual IRS limit?

I would like to contribute as much money to my 403(b) as possible this year, and I certainly want to take advantage of any employer matching. It is my understanding that employer contributions do not ...
2
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1answer
114 views

Can you legally increase your TFSA contribution room over the government's provided maximum ($63 500 in 2019)?

I saw this idea in Reddit comments by u/differing: I often wish I invested early in the weed stock bubble in my TFSA, not so much for the returns but more to supercharge my TFSA room and transition ...
5
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1answer
223 views

Does employer matching contributions in a TFSA count towards the annual limit?

Does my employer matching my contribution to a TFSA count towards my annual TFSA contribution limit?
3
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5answers
308 views

Can I cosign a car loan up to a limited amount?

Can a person co-sign a car loan up to a specific amount, less than the full value of the loan? Article says that "You’re actually committing to be 100% responsible for that debt". For example, ...
2
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2answers
130 views

Does your 401k provider stop you when you hit your max?

In general, I was wondering who is responsible for keeping track of when a normal, employer-sponsored 401k account has hit its pre-tax contribution limits for a year. I assume that, in the end, the ...
3
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1answer
1k views

If a mobile deposit is denied due to exceeding limit, can it be deposited in person still?

This might sound like a stupid question, but considering it just happened to me I bet it will help others sleep at night when they decide to do a mobile deposit after hours. Of course, that depends on ...
6
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1answer
156 views

When calculating Roth IRA contribution limit, is MAGI for previous or current year used?

I was looking into how much I could contribute to a Roth IRA based on MAGI. In 2018, my MAGI was below the amount where contribution limits start to decrease, so I should be able to contribute the ...
2
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1answer
4k views

I never opened TFSA. Why's my TFSA contribution room $64800.68, not 63500?

Brother Ivan never opened TFSA. Websites beneath say his TFSA contribution room is $63 500, but screenshot from his CRA online account says $64 800.68! Why? Which's right? Know your TFSA ...
4
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1answer
245 views

Can my employer make me forfeit Safe Harbor match if I over contribute?

My employer 401k plan offers 'after tax non Roth' contributions, in addition to traditional pre-tax and Roth. I chose to max out my pre-tax contributions at $19,000 this year and then switch to '...
10
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2answers
631 views

What are the 401(k) and IRA limits for next year?

Are 401(k) and IRA contribution limits increasing next year? If so, what are the new limits?
0
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1answer
84 views

401k catch up contributions for HCEs - can my company forbid these?

I am currently restricted to a 9.5% contribution rate to my 401k due to imposed limits by my company for HCEs (apparently we failed a test last year). My CFO is telling me that it is illegal for them ...
3
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2answers
89 views

Roth counting toward 401k maximum

Vanguard is showing me that my Roth contributions are counting toward the $19,000 401k maximum. I thought Roth counted towards a separate $6000 maximum. Is my Roth not an IRA?
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3answers
131 views

Solo 401k eligibility

I would like to know if I am eligible to open a Solo 401k, and if so, what is the max amount I can contribute. I think I meet the requirements listed on various sites: I have started working on a ...
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2answers
460 views

What are the limits for 401k and Roth IRA contributions and if I can catch up for the years missed?

I know the basic difference between a 401k and a Roth IRA that one is pre-tax and another is post-tax. I've also learned that I can contribute towards both a 401k and Roth IRA. I would like to know if ...
0
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2answers
193 views

Limit on Maximum amount to open a Roth IRA

Is there a limit on what is the maximum amount that I can use to start a Roth IRA? What I mean is if I have $100,000 (taxed), can I open a Roth IRA with this amount and then continue with the annual ...
43
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7answers
238k views

How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?

I am curious how a millionaire would guarantee the safety of his money, given that the FDIC only insures up to $250K of an individual's deposits at a bank. If someone had $3 million that they wanted ...
7
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1answer
496 views

Do Roth 401(k) and Roth IRA plans share the same annual contribution limit?

I've contributed $2000 to my Roth 401(k) plan through my employer, and $4000 to my Roth IRA plan that is totally separate from my employer. My accountant says that the limit on Roth IRA contributions ...
2
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1answer
80 views

What are the HSA limits with spouse having separate health plan and me with a child?

According to the open enrollment table in my HR guide, the 2019 HSA limits are: EE Only $3,500 EE + Spouse or EE + Child(ren) $7,000 My spouse has her own HDHP ...
11
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1answer
3k views

If I have a 401k for a partial year can I still contribute the maximum amount?

I will only have a 401k for part of this year. Am I still able to contribute up to the maximum contribution limit ($18,500 in 2018 this year) even though I only will have the plan for part of the ...
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1answer
153 views

401k employer vs personal limits

What are the combined limits for a 401k (either traditional or roth) when employer issued vs private? If someone is not eligible right now for employer 401k, so they invest 4k privately over 2018 (...
0
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1answer
154 views

Getting around discrimination clause on 401K contributions?

I would like to take advantage of the increased employer contribution limit. I realize that my employer cannot change our plan for just some people. But what if it was for all employees? How creative ...
5
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2answers
335 views

How long to increase credit limit?

How long does it take for credit limit typically to be raised? I'm planning a trip in 3 months (South America) and I need a 1200 GBP credit card deposit for renting a car. I've never needed a credit ...
1
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2answers
374 views

How much can I roll over (and how often) for a mega backdoor roth?

My goal is to contribute more in after-tax dollars to my 401k plan and roll that into a Roth IRA. But I can't find anything that describes how much or how often. Can I move all my after-tax ...
2
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1answer
183 views

401(k) lump sum distribution limited because of highly compensated employees?

I have left a company where I did not meet the 5 year vested date (no problem and understand). However, what I don't understand is how can an employer limit my lump sum on the full distribution (yes, ...
3
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2answers
451 views

IRA yearly contribution limit

With the yearly contribution limit of an IRA being $5500, are you allowed to open mutliple IRAs and does this make sense? I was curious what people who want to invest more into a retirement account ...
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2answers
1k views

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

I am 29 years old and have a 401(k) already with my company. I just started contributing 10% to my 401(k), up from my 8%. My company does not match but they do put 10% of my salary into my 401(k) as ...
10
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1answer
5k views

Does employer matching count toward the yearly 401(k) limit? [duplicate]

The federal government limits how much I can put into a 401(k) per year. For 2017, I think it's $18,000. Is this just my contributions, or does it count employer matching?
3
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3answers
4k views

Why do employer contributions count against HSA limits? [closed]

401k and 403b plans have annual employee contribution limits. Employer contributions do not count against that limit (but do count against a higher separate limit). Is there a reason HSA limits ...
2
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1answer
143 views

Withdrawing or depositing more than ATM limit when dealing with online banks?

Say I want to withdraw/deposit cash above my ATM limit (say, $7,000) from my bank account instantly. In a brick-and-mortar bank, it's no problem: you walk in and the bank teller does that for you. If ...
2
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1answer
62 views

Is a tax-deductible IRA contribution applied before the AGI income limit is checked?

If your AGI is above the limits defined by the IRS, you cannot deduct Traditional IRA contributions. What if deduction of the Traditional IRA contributions would reduce the AGI just under the limit?...
2
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3answers
186 views

Why would someone want to contribute post tax to a 401k?

I was looking at my 401k and it says that it has a pre - tax contribution limit of 18k and then a total limit of 50k. Why would someone want to contribute to the account post tax? do you then not have ...
5
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1answer
3k views

Max Contribution to IRA, Roth, and Both

Question: I am looking for maximum allowed contribution to Traditional IRA Roth IRA Traditional IRA and Roth IRA combined Searched IRS, and it is confusing Website says For 2015, 2016, and 2017, ...
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2answers
14k views

“Help To Buy ISA” - £200/month a hard limit?

I have recently moved back in with my parents with a view of saving £500-600 a month to put towards a deposit on a house. I am looking at getting a Help To Buy ISA through one of the UK banking ...
0
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2answers
818 views

Employer RRSP match vs. contribution limits for recent grad with no RRSP room?

I'm just starting my first job ($55k), which includes an employer RRSP match up to 5% of my income. I only have $500 of RRSP deduction limit for this year as I have never worked before. Can I ...
15
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4answers
11k views

Why are there income limits for Roth IRAs?

Why does the IRS establish a Modified AGI limit for contributions to Roth IRA accounts? I can understand having a limit for Traditional IRA accounts because the government doesn't want to lose out on ...
3
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2answers
2k views

How are contribution limits enforced on Roth IRAs for people with high income?

Say I make over 194k and can contribute 0. https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2016 I know my brokerage Roth IRA ...
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2answers
2k 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 ~$35,...