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Asked 12/11/2007

401K reduction of wages

Question: In the past the 401K contribution reduced all taxable wages dollar for dollar except OASDI and FICA. Is this still the correct statement.

Thank You

Geoff Rabjohn

 
 
 
 
 
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Answer 1/1 - Submitted 11/6/2009

Actually 401ks are pretax, before any state /federal taxes

 
 
 
 
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