Sentences with phrase «pre-tax salary contributions»

Medical insurance premium — You can't deduct pre-tax salary contributions you make to an employer - sponsored health insurance plan.

Not exact matches

It is a plan that enables sole proprietors to make substantial pre-tax salary deferrals and profit sharing contributions.

The Internal Revenue Service allows individuals who are age 50 or older by the end of the calendar year to make extra pre-tax contributions to their work - sponsored retirement plan account (s), including their 401 (k), 403 (b), Salary Reduction Simplified Employee Pension Plan, or governmental 457 (b).

Approximately one third of this is spent on teachers» take - home pay through base salaries, stipends, and incentives (i.e. what teachers see in their pre-tax paycheck rather than total compensation, which includes benefits and pension contributions).

This hypothetical example assumes the following: a starting annual gross salary of $ 60,000 with a salary increase of 4 % (2.5 % inflation + 1.5 % real salary growth rate) each year; pre-tax contributions of 15 % of salary annually (that 15 % includes any contribution you may get from your employer) at the end of the year for 42 and 32 years, respectively; and an annual rate of return of 5.5 %.

I was not aware that if you have a work - sponsored retirement plan, then traditional IRA contributions are pre-tax only if your salary is low enough (according to this).

Salary sacrificing (into super): When you and your employer agree to pay a portion of your pre-tax salary as an additional contribution to your superannuationSalary sacrificing (into super): When you and your employer agree to pay a portion of your pre-tax salary as an additional contribution to your superannuationsalary as an additional contribution to your superannuation fund.

A salary sacrifice to super is where you and your employer agree to pay a portion of your pre-tax salary as an additional concessional contribution to your superannuation account.

Depending on how the employer has structured the cafeteria plan, employees may reduce their salaries on a pre-tax basis for any contributions for selections in the cafeteria plan.

If you pay more than 15 % in income tax, you could consider sacrificing some salary and asking your employer to pay the same amount as a pre-tax super contribution.

These contributions are deducted from your salary on a pre-tax basis.

Even if you're contributing 8 % of your annual salary to a Roth 401 (k), your 4 % employer match will be designated as a traditional pre-tax 401 (k) contribution,» Kahler said.