Advice on 401k rollover to IRA
Basic question probably. I m looking for advice on rolling over a portion of amount in my 401k to an IRA.My needs are: a) to eliminate tax on withdrawal from IRAb) Have flexibility of withdrawal from...
View ArticleDoes taking a 401k loan have the same effect as a hedge against a down market?
I have a 401k balance in the low six figures.I maximize my contributions every year to the IRS max and my employer has a 6% match. This results in about ~$35k of new money going into my account every...
View Article401k Contributions Guidance for Two-Member LLC in a Community Property State
We established an LLC at the beginning of this year, with just two members – my spouse and myself. We reside in a community property state and file our taxes jointly as a married couple.Throughout this...
View ArticleConverting some Pre-Tax 401k Contributions to Roth Contributions
Is it possible to convert some Pre-Tax 401k contributions to Roth contributions each year? Since I would have to pay taxes on the amount converted I wouldn't be able to do it all at one time.
View ArticleConsolidating Multiple Solo 401k Plans into One
My spouse and I have separate solo 401k plans (let’s call them Plan A and Plan B), which we opened a few years ago when we undertook self-employed activities. This year, we opened an LLC as QJV and are...
View ArticleRetirement benefits vs. better salary/health insurance
I'm a research scientist and postdoctoral fellow in a US government lab. Currently, my position is funded through a DOE-run organization as an educational/training position. The salary is good for my...
View Article401K balance while in foreign company branch
I have transferred from a US company to a branch in home country.I'm paid through local country payroll and have no ties with US or the US branch payroll any longer.When I requested a distribution the...
View ArticleAre Roth 401(k) after-tax contributions at a disadvantage for maximizing...
I feel like there is a negative to Roth 401(k)s that I haven't seen mentioned anywhere after doing some major research.Assuming the employer match amount is a percentage of the after-tax amount that...
View ArticleDoes a 401(k) loan count as debt when calculating Debt-to-Income Ratio?
Does a regular 401(k) loan count as debt when calculating one's Debt-to-income ratio when applying for a mortgage?The loan is within the organization that manages the 401(k), and it does not show in...
View ArticleContribution from personal checking account to Solo 401k as Single-Member LLC
I have Single-Member LLC (file as a sole proprietor). Should I make contributions (Employee deferrals, Employee after-tax contributions, Employer contributions) to a solo 401k from my business checking...
View ArticleIs this a viable strategy for avoiding the pro-rata rule for backdoor Roth...
Assume that my 401(k) supports both reverse rollover from IRA and in-service rollover to an IRA. I am doing a backdoor Roth, and want to avoid the pro-rata rule. The general way to do this is to...
View ArticleHow is 401k basis calculated? (Warning, wrong question.)
Normally if you sell one equity and buy another with that money, any gains or losses are reflected in your taxes at the time you do that rebalancing and you have a new cost basis on the new...
View ArticleYearly 401k Contribution Limit Question
December 22 is the day of my last paycheck for the year. I'm trying to contribute the maximum allowed by the IRS for the year. Since this is the last paycheck I'll get for the year, would that be...
View ArticleExcess deferrals to after-tax, non-Roth 401k (just happened this paycheck) –...
It’s hard to google this/find this specific situation for advice.My last paycheck deferral on to my 401k (on 12/8/2023) resulted in exceeding the yearly maximum employer + employee = $66K limit. (2...
View ArticleWhat is my best option to reduce Tax Liability on an unpaid 401K Loan from a...
I lost my job in June 2023 and I had 2 outstanding 401K loans. Unfortunately I could not secure a job until 2 months later and had to use severance to pay bills instead of paying these loans back....
View ArticleRolling over Traditional 401(k) affected by Pro Rata
I currently have three retirement accounts:Account A: Traditional IRA with Pre-tax moneyAccount B: Traditional IRA with Post-tax money (used for backdoor Roth IRA)Account C: Roth IRAAccount D:...
View ArticleExcess deferral to AFTER-TAX, NON-ROTH 401K bucket. Will I be...
I recently went over the 66k limit for employer + employee contributions to 401k with my most recent paycheck (I have one paycheck left for the CY). I'm under the 22,500 pre-tax limit. I called...
View ArticleWhy might it be a bad idea to invest 100% of your 401(k) into a stock index...
Background: I'm a young 20-something, I won't be retiring for 40+ years, and the expense ratios for the funds offered in my company's 401(k) plan mostly suck. The company matches 35% of my...
View ArticleCan you self-direct a 401k to buy you a house?
So, this question came about because I was playing thought games. It is my understanding that a 401k isn't really an account type, but a thing with the tax code. Most employer sponsored 401k accounts...
View ArticleRoth 401k - Contributions are not going in as after tax?
So, I have a Roth 401k with my employer.I always thought that the Roth meant that I am contributing after-tax dollars into the account.I just realized the following:For simplicity, let's assume:I make...
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