401k contributions help?

[robls]

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

 

[bongo2]

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.

 

[robls]

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