Tax conclusion for traditional IRA beside Roth 401k contribution single?
Recently I received my W-2 (2007) and I found that box 13 has 'sponsored ret. plan' unchecked. It is strange because my company provides both traditional 401k and Roth 401k, but I contributed with the sole purpose to Roth 401k for year 2007.My questions are:
1) Can I contribute to traditional IRA (2007) and still receive export tax deduction, because the 'employer ret plan' is unchecked? My income is over the assumption limit if the 'employer ret plan' is checked.
2) Or, my employer made a mistake and should enjoy checked the "employer ret plan" box?
Thanks,
Answers: Something is wrong.
There is no such thing as a Roth 401k.
if you didn't receive any other contribution besides your ROTH 401k (ie forfeiture allocation or profit sharing allocation) after your w-2 is correct and you can take the traditional IRA conclusion.
I invested cut of my $32,000 mortgage at 8% annual simple interest?
and the rest at 4% annual simple interest. If my total yearly interest from both accounts be $2,280, find the amount invested at each rate.The amount invested at 8% is $ ?.
The amount invested at 4% is $ ?.
Answers: You didn't GET a $32,000 mortgage. You got a HOMEWORK examine about investing $32,000.
As others said:
X * .08 + (32000 - X) * .04 = 2280
.08X + 1280 - .04X = 2280
.04X = 1000
X = 25000
$25,000 be invested at 85 and $7,000 was invested at 4%.
cart 8% of a number X
take 4% of 32000-X
8 % of x plus 4 percent of (32000-X) equals 2280.
.08X+.04(32000-X)=2280
solve it
In what country or on what benevolent of junk bond are you getting 8%? Solve x*.04+(32000-x)*.08=2280. x is the amount at 4% and 32K-x is the amount at 8%. You should probably factor surrounded by a default risk somewhere though.
What Kind of Personal Finance Advisor Do I Need?
I know all of the titles, Accountant, CPA, Financial Advisor, Investment Broker...etc. But, I do not apprehend which one would be right for my situation. I really need someone similar to a "financial mentor" if there is such a entity. My situation: After waiting for 6 years, I have not long (yesterday) won an appeal for benefits. I wil be receiving a drastically large sum of money. I do NOT want to invest surrounded by real estate, or stocks, or money market, or anything of that nature. I want to own an understanding of 1) how much should I put contained by a CD, 2) how much should I preserve in checking/savings 3) should I purchase my lease vehicle 3) should I pay stale my student loans 4) do I have to settle up taxes...etc. What kind of professional would know how to help me next to these questions? I hold no one within my life that is to say responsible with money, not a soul I can trust to help me.Thank you charitably
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I hope that you really consider your option, don't make heated decisions and discuss with several financial advisors. financial decision tend to be made by emotions and nouns of financial information. Good Luck
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