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wyattkr
New Member

I have a job that matches 401k dollar-for-dollar and want to max it out before the end of the year. Can I mark myself exempt in order to have more available to match?

I'm wondering if I should move forward in marking myself exempt on my W-4
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5 Replies

I have a job that matches 401k dollar-for-dollar and want to max it out before the end of the year. Can I mark myself exempt in order to have more available to match?

tax withholding has nothing to do with it.

 

are you paid bi-weekly or monthly?

after submitting the paperwork, you might get your contribution raised in December.

 

100% match is pretty generous.

I have a job that matches 401k dollar-for-dollar and want to max it out before the end of the year. Can I mark myself exempt in order to have more available to match?

No ...  filing exempt from federal/state withholding on a W-4  will NOT  do anything for the 401K contributions ... talk to your employer to see how to increase the 401K contributions. 

wyattkr
New Member

I have a job that matches 401k dollar-for-dollar and want to max it out before the end of the year. Can I mark myself exempt in order to have more available to match?

I've already set my contribution amount to 100%. Now I'm wondering if there's a way to continue to make the most of my gross pay, pre-taxes. I don't have any risk of over-contributing to my 401k since I just started this new job and have never had one before.

I have a job that matches 401k dollar-for-dollar and want to max it out before the end of the year. Can I mark myself exempt in order to have more available to match?

If you are already at 100% then you cannot do more to the 401K. 

I have a job that matches 401k dollar-for-dollar and want to max it out before the end of the year. Can I mark myself exempt in order to have more available to match?

If you have all  your pay going to  401K and will be pre-tax then there will be no taxable income to have withholding taken out on,  except  the mandatory FICA (SS & Medicare) and any other deductions you have like for health ins. 

 

Boy I would double check the employer match.  That seems very generous.    

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