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401k contributions help?
Old 09-30-2003, 08:27 AM   #1
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401k contributions help?

Hi Everyone,

With the following assumptions in place:
$50k gross annually.
Maximum IRA contribution of $3,500 being done.
401k contribution of $7,000(currently).

How much tax savings is there in each additional $1,000 I would contribute to my 401k?

Thanks.

Rob
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Re: 401k contributions help?
Old 09-30-2003, 09:23 AM   #2
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Re: 401k contributions help?

Single? Married? Any state tax? Unusual deductions?

Impossible to say for sure, but it sounds like you're in the 25% bracket if you're single, and 15% if you're married.
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Re: 401k contributions help?
Old 09-30-2003, 09:49 AM   #3
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Re: 401k contributions help?

Quote:
Single? *Married? *Any state tax? *Unusual deductions?

Impossible to say for sure, but it sounds like you're in the 25% bracket if you're single, and 15% if you're married.
Sorry about not giving all the details.

Single.
PA state tax.
No unusual deductions.

Thanks.

Rob
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