0
What else can I help you with?
What is the difference between a pre-tax and Roth 401(k) plan?
The main difference between a pre-tax and Roth 401(k) plan is how they are taxed. In a pre-tax 401(k) plan, contributions are made before taxes are taken out, reducing your taxable income in the present. In a Roth 401(k) plan, contributions are made after taxes are taken out, but withdrawals in retirement are tax-free.
What is the difference between a pre-tax and Roth 401k?
The main difference between a pre-tax and Roth 401(k) is how they are taxed. With a pre-tax 401(k), contributions are made before taxes are taken out, reducing your taxable income now but you will pay taxes on withdrawals in retirement. With a Roth 401(k), contributions are made after taxes are taken out, so withdrawals in retirement are tax-free.
Can a loan company garnish my 401k?
No. No. There are, however, two points at work here as follows: A 401(k) account is a retirement account that is generally protected from creditors. You are only allowed to access the funds at retirement or through loans where you are effectively borrowing money from yourself and paying yourself back that money with interest. Garnishing is a phrase that implies money being taken from income of some sort. Putting this all together, a loan company, if they get a judgment against you, could garnish your wages but would not be able to touch anything that has to do with your 401(k).
Can your home be taken in a lawsuit?
Yes, in some cases, a person's home can be taken in a lawsuit if a court orders it as part of a legal judgment against the homeowner.
Are FICA taxes taken out of 401k contributions?
No, FICA taxes are not taken out of traditional 401(k) contributions. Since these contributions are made with pre-tax dollars, they reduce your taxable income for the year, and FICA taxes are applied only to your income before contributions. However, when you withdraw from your 401(k) in retirement, those distributions are subject to income tax, but not FICA taxes.
Can 401k be taken in civil lawsuit?
Yes, a 401(k) plan may be seized by a judgment creditor after a civil lawsuit even though you personally are not entitled to take the funds out without a tax penalty. If the 401(k) is seized, you will probably have to pay the taxes and penalties just as if you had taken out the funds yourself and used them to pay the judgment creditor.
What is the difference between a pre-tax and Roth 401(k) plan?
The main difference between a pre-tax and Roth 401(k) plan is how they are taxed. In a pre-tax 401(k) plan, contributions are made before taxes are taken out, reducing your taxable income in the present. In a Roth 401(k) plan, contributions are made after taxes are taken out, but withdrawals in retirement are tax-free.
What is the difference between pre-judgment depositions and post-judgment depositions?
Pre-judgment depositions are taken prior to trial and reflect issues of whether or not the defendant is liable. Post judgment depositions are taken after a trial (or settlement) and typically go to issues of the amount of liability or methods of enforcing the judgment.
Which of these is an optional deduction for money to be taken out of an employee's paycheck?
disability insurance
IS a 401K distribution income in bankruptcy?
Money taken from your 401 into your personal account is considered income/asset. That's why its never a good idea to remove money from your 401 when youre about to file BK.
What is the difference between a pre-tax and Roth 401k?
The main difference between a pre-tax and Roth 401(k) is how they are taxed. With a pre-tax 401(k), contributions are made before taxes are taken out, reducing your taxable income now but you will pay taxes on withdrawals in retirement. With a Roth 401(k), contributions are made after taxes are taken out, so withdrawals in retirement are tax-free.
Is road not taken a biographical one?
Yes, the idea of the road not taken is really about the things that you did not do, in your life. It is not literally about taking Highway 401 rather than the Gardiner Expressway.
If you had a levy placed against your bank account in 2005 and nothing has happened since can action still be taken at a later time?
In all likelihood it would be necessary for the creditor to refile the judgment as a new bank account levy or even renew the judgment and then file. The action that can be taken by a judgment creditor is determined by the laws of the state where the judgment is entered.
If a judgment has been issued for a repossession deficiency will it affect a 401K when cashed in and can they place a lien on your home which is homesteaded or take the money if it is sold?
A judgment creditor cannot levy on your 401(k), but they can levy on your bank account and money from a 401(k) distribution would be vulnerable if it was in your bank account at the time the levy occurred. Filing a homestead does not prohibit a judgment creditor from filing a lien against your home. The judgment creditor can wait for you to sell or refinance your home. If there is enough equity in your home to pay off the mortgage and your homestead, there might be enough equity to be able to force a sale of your home.
What will be the remainder when 201 301 401 501 601divide by 10?
If the numbers are added without division by 10: 201 + 301 + 401 + 501 + 601 = 2005 If the division by 10 is included: (201 + 301 + 401 + 501 + 601) ÷ 10 = 200.5 If remainders are taken into account, the answer would be 200 with a remainder of 5.
What times what equals 401?
401 x 1=401
Can a trust's property be taken if one of the trustees has a judgment against him?
A judgment against the trustee in his individual capacity will not affect the trust property. A judgment against the trustee as the trustee will become a lien on the trust property.
