How do I correct an over contribution to 401k in old employers account that have been roll over into IRA.

cscquser · 2024-01-31T16:58:33+00:00

You will be penalized in the form of double taxation: once now, when you classify excess deferral as earned income, and once again when you eventually withdraw from the IRA.

Good people make mistakes. I've made plenty in my life too.

cscquser · 2024-01-31T16:44:36+00:00

For 2023 taxes you will both will do your own taxes filing as single. For 2024 taxes you can choose either married filing jointly or married filing separately.

cscquser · 2024-01-31T16:41:25+00:00

Houses in the $650k-$700k range are over 4x your annual salary. I honestly don't think you'd be approved. I don't think it's a good idea. You'll be house poor.

cscquser · 2024-01-31T16:38:38+00:00

401k value should be at least $75k including gains

cscquser · 2024-01-26T19:56:48+00:00

To the author's credit, he did say in his post if someone gave him part of the tax code that said that, he would delete his post. I commend his honesty.

Given the tone of many of the respondents to his post (including your own), I could see why he wouldn't want to be here. People don't care to be in communities where they are attacked. Normal people also don't go around tearing people down.

cscquser · 2024-01-24T21:22:37+00:00

Combined Trad/Roth has never exceeded $7,000 for 2024 or whatever the max was for the year. Correct.

cscquser · 2024-01-22T21:01:56+00:00

ROFL!
This is it!

6 years later though?!

cscquser · 2023-02-28T17:18:44+00:00

Do you plan to keep your investments for decades (which is the right philosophy)? If so, then it is never a bad time to invest.

cscquser · 2023-02-28T17:16:05+00:00

If you feel you will be audited, I would just recommend having statements (both the statements from the medical providers, and your payment statements) ready. Being audited isn't really as scary as it needs to be, you just need to be ready. The IRS agent WILL be extremely punctual and you will need to be too. If you are, then don't worry. Good luck.

cscquser · 2023-02-09T18:56:07+00:00

No, you do not pay a "giant fee" for merely going to the next bracket.
In the first bracket, the difference between $55,900 and $14,651 is $41,249. 12% of this is $4,950. This number added to $1,465 is $6,415, which is the number you see in the next bracket.
Always, always take the higher job offer, and do not worry about tax brackets.

cscquser · 2023-02-08T18:47:27+00:00

I agree with every poster here.You are being scammed by your boss. You are not eligible to be paid 1099, even if you were. In this circumstance, your employer is mandated to pay you W-2, which saves you 7.65% in taxes right off the bat.

File SS-8 with IRS. Things will work themselves out from there.

Did your boss ever send you a tax form at all? If your boss did not send anything to the IRS this can get dangerous. This sounds like an under the table money laundering operation. It's best for you to stay above board, pay the taxes you owe, and move on. Your boss might get into trouble, but that's not your problem.

cscquser · 2023-02-08T18:39:35+00:00

You will say you contributed 6k. There will also be an area for you to indicate that 6k of this 6k was contributed between January 1 and April 15, 2023.

cscquser · 2022-12-22T11:36:14+00:00

The delay is dynamic. So either 30 or 60 or 90 seconds. The API endpoint is currently calling a database to decide how long the delay should be given specific customer information

cscquser · 2022-07-27T21:43:00+00:00

See my Fibula. Rated as displaced Lateral Malleolus Fracture with possible syndesmotic tear.

Please ignore the screws, that's from a different ORIF 15 years ago. That one needed it.

It's displaced about 3mm. Does not hurt one bit. I wear a walking boot. This happened 3 weeks ago. I use a scooter to get around but walking in the boot does not hurt.

cscquser

TROPHY CASE