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Contract job chestollu 401K

MDharmarajuMA

By MDharmarajuMA
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nijamena Side Hero

nijamena

Posted
Posted

If possible max out 401k Roth. You pay tax now, if you decide to withdraw before 60, you can still withdraw and pay tax only on gains. Essentially it is like buying mutual funds.

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Spartan
Spartan

annual 150K vastundi anuko gross pay and u contribute to 401K,  u need to deduct 19.5K in total for max contribution. that is ~13% of ur gross...adi deduction pettuko ne monthly pay check ki

Spartan
Spartan

nenu 121 vesa, it shud be 131-24 (so 107 something..97 kaadu). but logic remains same.

Spartan
Spartan

401K is good for contracting if u r breaching 150K.

Thokkalee LEGEND

Thokkalee

Posted
Posted

If you have save taxes, you can contribute upto $19,500 to 401k and $6000 to IRA.. that will be pre-tax..  if you are in 25% tax rate, you will save $6000 in taxes annually  

snoww LEGEND

snoww

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Posted
31 minutes ago, Thokkalee said:

If you have save taxes, you can contribute upto $19,500 to 401k and $6000 to IRA.. that will be pre-tax..  if you are in 25% tax rate, you will save $6000 in taxes annually  

Bro salary 190k anta. Straight Roth ira not eligible anukunta. Back door seyyali. 

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