401k contributions help?

robls

Recycles dryer sheets
Joined
Sep 29, 2003
Messages
169
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
 
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.
 
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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