Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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It sounds like your employer has good retirement options. You obviously want the free 6% from your employer on the 401k match. I don't have stock option so I've never really had to think about them...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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if my company didn't offer 6% -100% match plus discount stock purchase plan which im enrolled at max, i would be relying on fidelity to manage my Roth IRA and do my funding. but i dont want to dump...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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I don't know how to say this without seeming like a troll. But of course it is smart to contribute to tax advantaged retirement savings IF you can (meaning after you have paid off all debt aside from...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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is it smart to contribute max to your 401k + contribute to your Roth IRA? ... i dont see a good reason to do both if my money is going to be held until im 60 :(
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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Max donation for 2012 was $5000 for IRA's.
If you are going to start and IRA do it at Vanguard, Fidelity or Charles Schwab.
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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IMHO it's worth it only to do this for the $1-$16 contribution range, none of this $700-$30000 stuff makes sense to me to do it. Do u save on taxes? Yeah, but not enough to compensate for all the...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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I have no debt, and I'm not maxing my IRA or my employer retirement, instead I'm maxing out my stock purchase with 10% discount.
I make so little that I can probably get all of my taxes back...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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It was increased to 5500 this year. yay. But it does phase starting in the lower 100K in income =\.
http://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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All of the retirement investment type accounts have limits on them. I think the traditional IRA annual limit is 5k worth of deductions for most people.
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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I am a noobie at this. What IRA do I have to contribute to? Would this work: https://www.discover.com/online-banking/ira-cd/
Also if I am at $50000, and to get to the $20000 tax bracket, can't I...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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Explanation = taxes (absolute values) aren't continuous but discretized. This is odd because in today's world, most people e-file (or at least e-fill out), so calculation is automatic and there's no...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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It's fair to admit I was wrong in accounting for income below $100K and figuring the tax for that.
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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Musta been a shitty school and poor life experience. Like the OP said, look at the tax table before running your mouth off.
Income: 99,950 single filing taxes = 21,440
Income: 99,951 single...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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I think I see the. Infusion between our opposing views...over $100,000 u r saying that its progressive. Ok I can buy that. Since I don't have a form proving otherwise I may have to concede that...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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Did you even look at 1040 reference document I had in the OP? It shows it clearly right there. What u r claiming is that turbotax and other tax prep software all have it wrong and u have it right? ...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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2,463 Views
Federal taxes are absolutely progressive. What that means is that if you are in the 28% bracket you don't pay 28% tax on all your income...you pay 28% on the amount that is above the previous...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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27 Replies
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Actually I'm right and you're wrong, just try it and you will see...taxes are brackets, not progressive....
Also I will reiterate I HAVE SUCCESSFULLY DONE THIS twice in the last 3 years.
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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That's what I was thinking. I wonder why TurboTax is (supposedly) behaving this way...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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27 Replies
2,463 Views
Roth IRA contributions do not affect your taxes, only traditional IRA contributions.
As far as your income, everyone who makes a decent wage should (in this order)
1. Payoff all high interest...
Make money by contributing to your IRA while doing taxes--YMMV
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Thread created 03-17-2013 by LFAD76A
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27 Replies
2,463 Views
You understand that taxes are progressive correct? a $4 contribution will never amount to a $12 in savings....it is mathematically impossible (the caveat being if there are certain tax credits you...
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