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SVTPerformance's Chain of Restaurants
Road Side Pub
Bullitt Mustang - $50k - How the Duck do people afford crap?
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<blockquote data-quote="gimmie11s" data-source="post: 15941576" data-attributes="member: 17953"><p>Good man. Just do everything you can to get the max benefit a 401 program offers. Remember... EVERYTHING you contribute comes right off the top come tax time.</p><p></p><p>So if you were to max out at $18k, and you make $70k, in the eyes of the IRS you only made $52k that year. It could actually drop you a complete tax bracket and put a few thousand $$ in your pocket at tax time.</p><p></p><p>Gotta do it!</p><p></p><p></p><p></p><p>You'd be shocked how many young people (20s and early 30s) at my work contribute 0%. I basically beg them to do it, but they wont.</p></blockquote><p></p>
[QUOTE="gimmie11s, post: 15941576, member: 17953"] Good man. Just do everything you can to get the max benefit a 401 program offers. Remember... EVERYTHING you contribute comes right off the top come tax time. So if you were to max out at $18k, and you make $70k, in the eyes of the IRS you only made $52k that year. It could actually drop you a complete tax bracket and put a few thousand $$ in your pocket at tax time. Gotta do it! You'd be shocked how many young people (20s and early 30s) at my work contribute 0%. I basically beg them to do it, but they wont. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Bullitt Mustang - $50k - How the Duck do people afford crap?
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