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Get your taxes done using TurboTax
The problem is that having $9,750 withheld for taxes leaves only $29,250 of the original $39,000 available to fund the 401(k) elective deferral. Deferring $30,500 would imply that the business paid you $39,750 that was split between the tax withholding and the elective deferral.
‎January 28, 2025
10:17 AM