Now the 401(K) IRS treatment will be only 18% of income credit???
The annual limit is $15,500.
This affects my state income tax because the 401(K) funds lower my AGI.
More state income taxes forever into the future.
Also, this makes Roth more attractive? It would pay to pay taxes NOW
rather than defer.
That’s what they want. They want the TAX MONEY NOW!!!!
That’s why I upped my contributions. No more tax money for you Obama!!!
That's something that you choose to pay. And your employer is probably paying you a premium to influence that choice.
You always have the option of choosing to NOT pay a state income tax.
I wonder how long before they rescind exeptions to the ROTH and start taxing that ,too.
IMHO, it’s just a matter of time.