For a married couple filing jointly, the maximum 401k contribution limit is 38,000 in 2021.
These assets should not be effected at all.
generally no. the only type of money that can be put into a 401k are payroll deductions, roll ins from other 401k's, traditional or Rollover IRA's and pensions. If the stock options are in one of these plans, call your plans service center to get your plans rules and procedures. It is rare for stock options to be in one of these plans. Also stock options have no real value until you exercise them (buy the stock).
Yes, you do not get taxed for taking a 401k loan, but you may face taxes and penalties if you do not repay the loan on time.
Yes, you can typically deduct 401k contributions from your taxable income when filing your taxes, which can lower your overall tax liability.
No. Never. It is exempt and protected.
all ERISA qualified retirement plans are protected from creditors in a BK.
For a married couple filing jointly, the maximum 401k contribution limit is 38,000 in 2021.
These assets should not be effected at all.
BK is a Federal thing...and 401k is exempt everywhere.
No...you must disclose it but it will be exempt.
generally no. the only type of money that can be put into a 401k are payroll deductions, roll ins from other 401k's, traditional or Rollover IRA's and pensions. If the stock options are in one of these plans, call your plans service center to get your plans rules and procedures. It is rare for stock options to be in one of these plans. Also stock options have no real value until you exercise them (buy the stock).
Yes, you do not get taxed for taking a 401k loan, but you may face taxes and penalties if you do not repay the loan on time.
Yes, but it is one of the absolute stupidest things financially you can do. By the end of th BK you will lose the 401k money, which is only protected while it is IN the 401k, and be left with the debt to the plan, which won't be discharged and will seize the money in the plan to be paid.
What are you possibly trying to say? (Your 401k is exempt from seizure and process in BK you know).
Yes, you can typically deduct 401k contributions from your taxable income when filing your taxes, which can lower your overall tax liability.
NO. Absolutely fully protected...