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SVTPerformance's Chain of Restaurants
Road Side Pub
401K contribution
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<blockquote data-quote="Iamchris" data-source="post: 16404658" data-attributes="member: 21687"><p>You are still going to pay a portion of those earnings, i.e. a much higher number to your partner, the federal government. x% of 10k contributions vs x% of 40k contributions + earnings.</p><p>Do you think your tax rate is going to be lower in 10, 20 or 30 years? We are far in debt and digging deeper, taxes will NEVER be lower than they are right now. Pay tax now, grow without a partner... but its all about decisions, so do what you think works for you.</p><p></p><p>Just a minor caveat, if you get a match, always go 401K first until you meet the match.</p></blockquote><p></p>
[QUOTE="Iamchris, post: 16404658, member: 21687"] You are still going to pay a portion of those earnings, i.e. a much higher number to your partner, the federal government. x% of 10k contributions vs x% of 40k contributions + earnings. Do you think your tax rate is going to be lower in 10, 20 or 30 years? We are far in debt and digging deeper, taxes will NEVER be lower than they are right now. Pay tax now, grow without a partner... but its all about decisions, so do what you think works for you. Just a minor caveat, if you get a match, always go 401K first until you meet the match. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
401K contribution
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