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Pl tell you about your tax filing as you are an employee in a private company an your present an past company both deduct the non taxable income saperatly and now you are liable to pay tax for 2008-20?
Wiki User
∙ 15y ago
Your question is fairly incomprehensible. But I'm going to take a wild guess about what you are asking:
You worked two different jobs and had 401k contributions taken out of your pay by both employers??? And the total taken out was more than the maximum for the year???
If this happened before 2009, it is too late to do anything to fix it. If more than $15,500 was taken out before taxes in 2008 ($20,500 if you were over 50), you will have to pay tax on the difference. The IRS wants you to add the difference to your wages on line 7 of your Form 1040. For example, if you contributed $5000 too much, add $5000 to your wages on line 7.
DO NOT remove the excess from your 401k. You can just leave the overcontribution in your 401k and let it grow until you retire. Unfortunately, you will need to pay taxes on it again when you remove it, regardless of whether you remove it now or 30 years from now, so there is no point in trying to remove the overcontribution.
The deadline for trying to fix an overcontribution without paying taxes on it was April 15.
Wiki User
∙ 15y ago
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Who is responsible for establishing a private company's internal control?
management
Why is accounting important for a manager?
The financial statements used in accounting are like a photograph of the companies financial standing at any given period. This is important to managers because this shows them how much money the company is making (revenue) and spending (expenses and supplies, etc.) By viewing this a manager can decide several things, can the company afford to hire more employee's or is the financial state of the company not good enough for them to afford salaries or wages. Does the company need to lay-off employee's, is the company earning a profit or are they showing a loss? Accounting it literally the life blood of any business, without knowing where a company stands financially, a manager, a CEO, or even a private owner can not operate the business to its fullest potential.
What is different between private company and public company?
Privately-held companies are - privately held, i.e., owned by the company's founders, management or a group of private investors. A public company, on the other hand, is a company that has sold a portion of itself to the public via an initial public offering of some of its stock, meaning shareholders have claim to part of the company's assets and profits.
What is a difference between public and private accounting?
Public accounting includes any accounting work that a company performs for another company. Examples would be audits, tax compliance, consulting, etc. The "Big 4" (KPMG, Deloitte & Touche, PriceWaterhouseCoopers, and Ernst & Young) are the dominant firms that provide public accounting services. Private accounting is accounting work that is done for your own company. Every company has some form of an internal accounting department and those employees would be considered private accountants.
What is the difference between ltd and llc?
Ltd is a private company that is limited by shares incorporated. An LLC is not a corporation but a legal form of a company that provides limited liability to its owners.
Is it compulsory for a private limited company provide medical to their employee?
It would depend on the legislation of the country in question.
Does Publix let the public invest in their stock?
Publix is proudly a Private / Employee owned company. Stock can only be purchased by employees.
Can an employer direct an employee to make a call to a friend of hers to check on another employee before hiring?
An employee might reasonably refuse such a request; employees have a right to keep their private lives separate from their professional lives. However, an employee might also wish to cooperate with this request; it could be helpful to the company for which the employee works, and I really do not see it as a betrayal of a friendship. If the person that the employee has been asked to check on is going to be harmful to the company in some way, wouldn't it be better to know? The employee will, after all, be affected by the success or failure of the company which employs him or her.
IS Employee and employer contribution can be duducted from the Employee Salary Please Guide Soonly.?
It depends on your terms of agreement for the job. In most cases, company's pay you by CTC - Cost To Company. In such cases, both employee and employer contributions are considered a part of your salary and the CTC. So, Yes, it is possible and is done in a majority of the private sector cos
Is the company Upper Deck a public or private company?
Private
Is Mars a public or private company?
Mars is a private company.
Is Godrej is a public or private company?
Godrej is a private company.
Can an employer print private information about an Employee?
PAME
Is it ethical for employers to invade employee's private life?
no..
How does a private company differ from a public company?
A private company differs from a public company by how it does its research. A public company can dip into public capital markets as to where private companies cannot.
How the financing pattern in private company?
what is the financing pattern of private company?
Is Hindustan Unilever limited is a public or private company?
It is a private company.
