401(k) contribution

Active Participation and IRA Deductibility

Wednesday, April 21, 2021
This question (or a derivation of it) has been popular as of late: “I only participated in my 401(k) for a couple of months in 2020 before I was laid off. Does that still make me a ‘covered’ employee, and can I contribute to my Traditional IRA?” It seems innocent enough, but there is a heck of lot going on in this little question.
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DON’T OVERLOOK AFTER-TAX PLAN CONTRIBUTIONS!

Monday, October 19, 2020
With the popularity of Roth 401(k) contributions, after-tax employee contributions have gotten short shrift. But, if your plan offers them, after-tax contributions are worth considering because they can significantly boost your retirement savings. What are they? After-tax contributions are elective deferrals made from already-taxed salary. You make after-tax contributions to your plan the same way you make pre-tax or Roth contributions (if offered). Unlike earnings on Roth 401(k) contributions, earnings on after-tax contributions are always taxable.
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Is My Net Unrealized Appreciation Option Lost Forever?

Friday, April 29, 2016
This edition of The Slott Report Mailbag looks at minimizing the upfront tax impact of a Roth IRA conversion, highlights the 401(k) and SEP IRA contribution limits and answers a question on the BIGGEST planning opportunity in the tax code - net unrealized appreciation.
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Contribute to BOTH Your 401(k) and IRA in 2013

Tuesday, November 26, 2013
There’s a common belief that if you have a 401(k) plan where you work and you contribute to it, you’re not allowed to also contribute to your IRA for the same year. But that’s not true; you’re allowed to contribute to both.
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RMD Rules, IRA Contribution Limits Highlight Slott Report Mailbag

Thursday, March 22, 2012
IRAs are different, complicated, but in the end, a great avenue for retirement planning. In this week's Slott Report Mailbag, we answer questions on required minimum distribution rules (RMDs), IRA contribution limits and how to take withdrawals if you are a non-designated beneficiary.
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