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Question for lane: on the traditional ira and roth there are
question for lane: on the traditional ira and roth there are agi limits thresholds. so lets say one year you make 500k. does this mean you can not contribute the 6500 into an ira or the contribution c… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I need a tax expert to help me determine our maximum
I need a tax expert to help me determine our maximum contributions for 2017. We have 2 companies (ES Design) where my wife is active in the business and paid herself 44,111 total wages) and a second c… read more
Lev
Lev
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If a client is participating in a companies 403()? A) Can
Hi, If a client is participating in a companies 403(b)?A) Can they also contribution to their own Traditional IRA and deduct the amount, as long as the total contributions (Company + Trad IRA) does no… read more
emc011075
emc011075
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Bachelor's Degree
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Traditional IRA contribution - *Married taxpayers file MFJ
Traditional IRA contribution -*Married taxpayers file MFJ *One spouse covered by retirement plan, one is not *AGI will be over $ 200K for 2017 *Taxpayer that is not covered by retirement plan, contrib… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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If a person hasn't contributed Roth IRA (or any other plan)
If a person hasn't contributed Roth IRA (or any other plan) in the past few years, although he had employment income, could he still be able to use these accumulated room to contribute? If so, would t… read more
Tax.appeal.168
Tax.appeal.168
Principal
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If both spouses work, but only 1 employer offers 401k, can
If both spouses work, but only 1 employer offers 401k, can that spouse contribute $36k? How can we maximize our retirement contributions and reduce our taxable income if we make $240k?… read more
Lev
Lev
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Bachelor's Degree Equivalent
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My income limit prevented contributing directly to Roth IRA
My income limit prevented contributing directly to Roth IRA as I've always done. Maximized ($5500) non-deductible contribution to traditional IRA and completed backdoor Roth conversion before the end … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
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I have a client who makes 100k as a professor and his wife
I have a client who makes 100k as a professor and his wife earns $50k as a music teacher and owner of her business with no 401k offered. He participated and maximized his 2015 401-k deferral for $24k.… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I'm single, head of house, one child. Gross income $145k,
I'm single, head of house, one child. Gross income $145k, maxed on 401k contribution ($24k). Can I have an IRA?… read more
Robin D.
Robin D.
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NON-DEDUCTIBLE IRA: HUSBAND AND WIFE, BOTH AGE 40, FILE A
NON-DEDUCTIBLE IRA: HUSBAND AND WIFE, BOTH AGE 40, FILE A JOINT RETURN. HUSBAND PARTICIPATES IN HIS EMPLOYER ROTH 401K AND WIFE PARTICIPATES IN HER EMPLOYER 401K. YEAR 2015 AGI = $250,000. PLENTY OF E… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I had a 401k with a previous employer. I rolled it over into
I had a 401k with a previous employer. I rolled it over into an Etrade rollover IRA. I also have a Roth IRA through Etrade. Can I contribute $5,500 to both the Roth IRA and the Rollover IRA?… read more
Barbara
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If a 58 year old has a 401k at work, can he contribute to a
If a 58 year old has a 401k at work, can he contribute to a ROTH IRA today in 2014 & 2015? If so, how much for each year? If not, how much can the 58 year old contribute to his IRA in 2014 & 2015? Is … read more
Lev
Lev
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Bachelor's Degree Equivalent
34,033 satisfied customers
A married couple who file jointly & both participate in 401k
A married couple who file jointly & both participate in 401k plans with their respective employers, each made Roth IRA contributions of 5,500 in 2015 for the 2014 tax year. They efiled their Federal F… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
8,388 satisfied customers
In 2014 I contributed the max $5500 to a Roth IRA thinking
In 2014 I contributed the max $5500 to a Roth IRA thinking I would make less than $100k year. It turns out I made $130k which disqualifies me IRA. Turbotax is advising me to take a distribution of the… read more
Robin D.
Robin D.
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What is the max contribution amount for 401 k employee matched
What is the max contribution amount for 401 k employee matched . Can one only contribute to 401 K during the year or also a traditional IRA .… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
probably a straightforward question but let me ask to make
probably a straightforward question but let me ask to make sure. I have a 401 K and a Roth IRA with a certain bank. 401K is from my previous employer. I have another 401k with another bank, from anoth… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,992 satisfied customers
I retired from federal government employment this year. I had
I retired from federal government employment this year. I had been using the Federal Thrift Savings Plan to defer income, which allowed me to defer up to $22,500 per year. Now that I am retired I can … read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
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If the Ret. plan box (#13 on my W-2) has an x in it, and
If the "Ret. plan" box (#13 on my W-2) has an 'x' in it, and I did not participate in my employers retirement plan (403b), will the IRS question , or allow me to deduct the $2,400 I contributed to an … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,033 satisfied customers
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