I started working at age 19 and have been contributing the minimum 9.5 % along with several
post tax contributions which qualify for the government co-contribution.
Additionally, when you state that your Roth 401k balances are equal for you and your employer match, do you realize that your employer is only matching
your POST TAX contributions?
There is only one choice for contributions, rebalance / transfer... it applies to the whole balance / contribution, can't choose pre or
post tax contributions
Not exact matches
Why would you contribute to an Traditional IRA and pay
taxes on
post tax money (since you can not deduct the
contribution at some point due to income limits) and not put in a taxable account and be able to pay only capital gains?
STOP
posts its
tax statements online and these reveal a few small
contributions from named private donors ($ 5000 to $ 10,000) but one of $ 250,000 from «a donor who wishes to remain anonymous.»
It could put out printed payslips in banks and
post offices and public buildings, and invite extra
tax contributions online and by text.
As I explained in the
post below, city residents may also be paying state
taxes to cover the pension
contributions of localities elsewhere in the state, even as city residents pay more than anyone anywhere for the city's own pension
contributions.
You can make a
tax - deductible
contribution to support our growth, follow us on Twitter, like us on Facebook, add us to your RSS reader, sign up for an email every time there's a new
post (look for the «follow» button at the lower right part of your screen), or subscribe to our daily digest.
Financial Freedom presents Roth
Contributions, posted at Retirement Spreadsheet, saying, «The Roth tax optimization puzzle for asset conversions, as well as for annual Roth contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon indivi
Contributions,
posted at Retirement Spreadsheet, saying, «The Roth
tax optimization puzzle for asset conversions, as well as for annual Roth
contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon indivi
contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon individuals.»
Assuming you have contributed 90 % in regular
contributions (pre-
tax) and 10 % in Roth (
post tax), when you withdraw $ 1000, it will be $ 900 from the regular (
taxed fully) and $ 100 from the Roth (not
taxed, assuming its a qualified distribution).
I recommend the Roth IRA over traditional IRA because she will be making
tax deductible
contributions to her 401 (k), so making the non-deductible Roth IRA
contributions, but getting
tax - free withdrawals in retirement, provides what some refer to as
tax diversification (see
posts IRAs: Traditional vs. Roth, and IRAs: Traditional vs. Roth, Part 2).
Online brokerages are still in a busy season (
post RSP
contribution deadline) as they will be looking to win business from DIY investors wondering where to put any potential income
tax returns.
And the «ex
post facto laws» provision of the Constitution has no effect on
taxing Roth
contributions, since the * withdrawal * takes place after the law.
I meant
post tax as in employee
contributions are
post tax.
MoneySense magazine will be running a story on Canadians who have managed to grow their
Tax - Free Savings Account (TFSA)
contributions to $ 30,000, $ 40,000 or more (if you are interested in sharing your story, see details at the end of this
post).
Individuals can voluntarily contribute more of their pre or
post tax income if desired (many on higher
tax brackets elect to contribute before
tax earnings, as Super
contributions are
taxed at a flat rate of 15 %, much lower than the higher income
tax brackets).
That way, the contributor can withdraw the
contributions (called a PSE or
Post Secondary Education withdrawal)
tax free and roll over any growth into their RRSP, if room allows.
My normal HSA
contribution is
post tax.
I argued in this Financial
Post article in 2011 that Canadians, rich or poor, really don't understand that those contributing to TFSAs have ALREADY paid their fair share of
tax when they earned the income to come up with the TFSA
contribution.
Financial Freedom presents Roth IRAFinancial Software,
posted at Financial Freedom, saying, «The Roth
tax optimization puzzle for asset conversions, as well as for annual Roth
contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon individuals.»