If I contribute the max to my 401k today, can I claim it on my taxes for the 2007 charge year?
I know if I contribute to a traditional IRA today I can claim it on my 2007 taxes so I'm just curious how 401k works...Answers: Nope... Your 401k contribution will count toward 2008... 401k contributions single count towards the year they were made. Your w-2 reflect your 401k contribution, and that's already finalized. Different rules for IRA and 401k's.
Do you have a 401K or a traditional IRA?
Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for file your return for that year, not including extensions. For most people, this channel that contributions for 2007 must be made by April 15, 2008, and contributions for 2008 must be made by April 15, 2009.
no...it will be a 2008 deferral of income. A 401k contribution defers the income during the year surrounded by which the compensation was remunerated not when the contribution is paid. In reality, don't call it a contribution but instead call upon it a deferral because that's what it really is. You are deferring account of your income until retirement. As such you are also deferring taxation. So, 2008 deferral = 2008 retrenchment in income = 2008 moderation in charge.
W2 form have NJ state and I am residing GA state. State excise?
Please help me on State export tax filing. My w2 form have NJ state(as my employer office located contained by NJ). I am at GA since Jan 01 2007. How do I file my state export tax? Do I need to go and get refund from NJ state first and pay envelope require tax to GA?Answers: File a nonresident return for NJ and a resident return for GA.
Subpart f de minimis?
What does this mean?Answers: It would serve if you mention what you are quoting from.
not much