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Are 401k contributions determined by pay period or pay date?
401k contributions are typically determined by pay period, not pay date. This means that the amount contributed to a 401k account is based on the earnings received during each pay period, regardless of when the paycheck is actually issued.
Convert 401k to roth 401k?
Not sure what you are asking, but generally you cannot simply convert your 401k to a Roth 401k, unless this is something your current company offers. If it is offered, then you would have to pay taxes on the amount that you rolled into a roth 401k, but would never pay any other tax on the gains or distributions.
Can you transfer your 401k to your bank?
Depends on your plan but you can opt out of your 401K at any time but you will pay taxes on the balance then pay a 10% penalty on the pre-tax amount. For example, if your balance is $10K, you will pay $1K penalty, then pay taxes on $10K which might be as high as $3000. So you end up with $6000 and probably won't be able to participate in the 401K plan for another year.
Can you cash out your 401K?
You can cash out your 401k, but you could possibly face severe tax implications. When you cash out a 401k plan, you usually pay ordinary income tax on the amount, plus a 10% penalty. Sometimes this can result in a charge of over 40%!
Can you roll over a 401k to a Roth IRA without incurring any penalties?
Yes, you can roll over a 401k to a Roth IRA without incurring penalties, but you will need to pay taxes on the amount converted from the traditional 401k to the Roth IRA.
How much do you think is a reasonable amount of money to pay for lunch?
The "reasonable" amount of money to pay for lunch is about $1.50.
Are 401k contributions determined by pay period or pay date?
401k contributions are typically determined by pay period, not pay date. This means that the amount contributed to a 401k account is based on the earnings received during each pay period, regardless of when the paycheck is actually issued.
Convert 401k to roth 401k?
Not sure what you are asking, but generally you cannot simply convert your 401k to a Roth 401k, unless this is something your current company offers. If it is offered, then you would have to pay taxes on the amount that you rolled into a roth 401k, but would never pay any other tax on the gains or distributions.
In a 401k when you eventually pay taxes which taxes do you pay?
Distributions from your 401K after you reach your retirement age the taxable amount will be subject to federal income tax at your marginal tax rate and may be subject to some state income tax.
Can you transfer your 401k to your bank?
Depends on your plan but you can opt out of your 401K at any time but you will pay taxes on the balance then pay a 10% penalty on the pre-tax amount. For example, if your balance is $10K, you will pay $1K penalty, then pay taxes on $10K which might be as high as $3000. So you end up with $6000 and probably won't be able to participate in the 401K plan for another year.
Can you cash out your 401K?
You can cash out your 401k, but you could possibly face severe tax implications. When you cash out a 401k plan, you usually pay ordinary income tax on the amount, plus a 10% penalty. Sometimes this can result in a charge of over 40%!
Can you roll over a 401k to a Roth IRA without incurring any penalties?
Yes, you can roll over a 401k to a Roth IRA without incurring penalties, but you will need to pay taxes on the amount converted from the traditional 401k to the Roth IRA.
Do I pay FICA on 401k withdrawals?
No, you do not pay FICA (Social Security and Medicare) taxes on 401k withdrawals.
Is it possible for me to pay back my 401k loan early?
Yes, it is possible to pay back your 401k loan early.
What is a reasonable amount to pay for a chandalier?
A reasonable amount to pay for a chandelier would be more than one hundred dollars, at least. Your personal opinion and budget may vary, and its important to keep your budget in mind when buying a chandalier.
What is the total amount a borrower must pay for a loans including interest and fees?
A: It depends on the loan company. Ask them & they should tell you.-->The total amount a borrower must pay for loans (including interest and fees) is the Finance Charge.
What is reasonable late fee when renter hasn't paid rent in 27 days?
I would think 5% of the rental amount would be fair. After all, you pay way more interest on the balance on a credit card. And if you charge something like $20 across the board, that would not be fair for the individuals with smaller rent to pay the same amount late fees as someone with much higher rent. So, I would go with 5% of the amount of your rent as late fees.
