0
yes, but there are earned income limits that may prevent you from deducting a Traditional IRA on your taxes if you were covered by a 401(k)
As discussed here - http://www.savingtoinvest.com/2011/07/contributing-to-an-ira-and-roth-ira-if-you-already-have-a-401k.html - you can contribute to both (limits are different) based on income levels and meeting eligiblity rules.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
Can a company restrict employee contributions to a 401k based on length of time with the company cannot contribute to the 401k until with the company 3 months Is this legal?
Yes, this is legal. The company has previously established eligibility requirements for the account that have been approved by the Internal Revenue Service and the Department of Labor. Some companies may do this based open length of employment with the company or hours worked or both.
Can managers improve both efficiency and effectiveness simultaneously?
A manager can be both efficient and effective at the same time with proper self training, dedication and a desire to do good can all contribute to being effective and efficient.
What is a 401k savings plan?
a 401k plan is an life time money dealing plan you should have after you quit your job
What's the difference between Roth and a 401K?
The difference between a Roth 401k and a regular 401k is that the Roth 401K is a after-tax contribution and the regular 401K is a pre-tax contribution. You pay taxes on the Roth 401K now in order to avoid taxes at withdrawal. The regular 401 is a tax credit for the year deposited with taxes paid at the time of withdrawal.
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
Can a company restrict employee contributions to a 401k based on length of time with the company cannot contribute to the 401k until with the company 3 months Is this legal?
Yes, this is legal. The company has previously established eligibility requirements for the account that have been approved by the Internal Revenue Service and the Department of Labor. Some companies may do this based open length of employment with the company or hours worked or both.
What do both atria do at the same time?
They both contract at the same time.
What is the point of a 401k for individuals?
A 401k is crucial for retirement! If you work for a private company or corporation, you want to know that you will have money waiting for you at the end of the day when you finish working. A 401k is sponsored by a company and allows you to have those savings. At the same time it is good for the company because it allows them to not have to pay pensions.
Can managers improve both efficiency and effectiveness simultaneously?
A manager can be both efficient and effective at the same time with proper self training, dedication and a desire to do good can all contribute to being effective and efficient.
Can managers can improve both efficiency and effectiveness simultaneously?
A manager can be both efficient and effective at the same time with proper self training, dedication and a desire to do good can all contribute to being effective and efficient.
What are the restrictions on 401k rollovers?
You can rollover your 401k at any time, as long as it has been 60 days since it was opened. The company holding your 401k benefits has its own rules.
What is a 401k savings plan?
a 401k plan is an life time money dealing plan you should have after you quit your job
Can B.B. King sing and play guitar at same time?
Yes, he does do both at the same time. I saw him in concert and he did both at the same time.
What are the advantages of using a 401k calculator?
There are many different advantages of using a 401k calculator. They help you understand the financial aspects of your 401k account by calculating your payments and how much you will have by a certain time.
Can A government can be both monarchy and an anarchy at the same time?
Can a government be both a monarchy and an anarchy at the same time
What's the difference between Roth and a 401K?
The difference between a Roth 401k and a regular 401k is that the Roth 401K is a after-tax contribution and the regular 401K is a pre-tax contribution. You pay taxes on the Roth 401K now in order to avoid taxes at withdrawal. The regular 401 is a tax credit for the year deposited with taxes paid at the time of withdrawal.
