Welcome! | Ask A Question

 
 
 
 
Question

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

 
 
 
 
 
Answers

Answer 1/3 - Submitted 11/6/2009

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

 
 

Answer 2/3 - Submitted 9/2/2010

MOST 401(k)s are pretax. With the introduction of the Roth 401(k) in 2007, you can contribute money to your retirement savings which is after tax.

 
 

Answer 3/3 - Submitted 5/28/2011

I like to known phone number 401k from brigdstone firestone

 
 
 
 
Answer This Question Now

Type your Answer in the box below and post your answer.

Learn more about how this works

 
 
 

Related Questions (Ask a New Question)

 
Taxes

I have recently receive my income tax refund with no explanation on what appears to be a reduction in the amount claimed for the earned income credit after having completed the worksheet for form 1040 line 64a as required, and i have concluded that the only other income that i have beside wages from...

See Answers

 
The wages of the individual were listed as less then the full wage on the w2 form.

I know that this individual has had his monthly wages garnished for a debt due to co-signing for his daughter-in-law's purchase of a van. (the d-i-l has since sold the van, filed bankruptcy and left town, so the father-in-law is left with the debt.) yet, on his w2, the only thing marked is in the...

See Answers

 
My total fica wages were 29,448.22. my 401k contributions were $16,735.64. subtract this from fica wages will leave $12,712.5...

My total fica wages were 29,448.22 my 401k contributions weree $16,735.64. i did not receive the 401k. it went to a financial institution. subtract the 40k contribution from fica wages will leave a total earnings of $12,712.58. the maximum one can earn in 2009 was $14,160.00. social security says i...

See Answers

 
Related Questions

Taxes


I have recently receive my income tax refund with no explanation on what appears to be a reduction...

 

The wages of the individual were listed as less then the full wage on the w2 form.


I know that this individual has had his monthly wages garnished for a debt due to co-signing...

 

My total fica wages were 29,448.22. my 401k contributions were $16,735.64. subtract this from fica wages will leave $12,712.5...


My total fica wages were 29,448.22 my 401k contributions weree $16,735.64. i did not receive...

 

What is garnishment of property other than wages mean?


Besides garnishing my wages, i heard they sieze your bank accounts, how does that work? and...

 

Is health and welfare benefits and 401k considered wages when working for a gov. contractor? the hr says they are not and th...


The hr admin. says they are not since there is no record of them on check stub. you are required...

 
 
 

See more 401k questions

 
 
 
 
 

Ask A Question

Ask a new question about
401k: