compasslocal
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No body advertising the solo 401k mentioned effective tax rates. After standard deductions, etc my effective tax rate was only 7.5% soa 10k contribution to the ...
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Some how after standard deductions the 22% tax rate becomes an effective rate of 7.5% and so a 10k contribution only lowers taxes by less than $1k. What a bumme...
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Why would the contribution only increase my refund by 9.6% if my non self employment income is based on my federal tax rate of 22%? Im only seeing 960 increase ...
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Thank You. How does the actual tax reduction only end up being about 10%? It seems so much less that expected. even 80% of my 22% tax bracket would be understan...
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I think I was steered wrong then about the benefits of a solo 401k. Not being able to reduce the self employment tax is a bummer. Either way. For every 10k I co...
Activity Feed for compasslocal
- Posted Re: self-employed solo 401k employeer contributions are not deducting taxes on Get your taxes done using TurboTax. April 9, 2025 1:43 PM
- Posted Re: Self Employed Solo 401k Contributions - Should they increase your refund based on your federal tax rate? on Get your taxes done using TurboTax. April 9, 2025 1:40 PM
- Tagged Re: Self Employed Solo 401k Contributions - Should they increase your refund based on your federal tax rate? on Get your taxes done using TurboTax. April 9, 2025 1:40 PM
- Posted Self Employed Solo 401k Contributions - Should they increase your refund based on your federal tax rate? on Get your taxes done using TurboTax. April 9, 2025 9:47 AM
- Tagged Self Employed Solo 401k Contributions - Should they increase your refund based on your federal tax rate? on Get your taxes done using TurboTax. April 9, 2025 9:47 AM
- Posted Re: self-employed solo 401k employeer contributions are not deducting taxes on Get your taxes done using TurboTax. April 9, 2025 9:44 AM
- Posted Re: How to make Turbo Tax deduct employer contribution for solo 401k? on Retirement tax questions. April 9, 2025 7:40 AM
- Posted Re: How to make Turbo Tax deduct employer contribution for solo 401k? on Retirement tax questions. April 8, 2025 9:09 PM
- Posted self-employed solo 401k employeer contributions are not deducting taxes on Get your taxes done using TurboTax. April 8, 2025 8:44 PM
- Posted Re: How to make Turbo Tax deduct employer contribution for solo 401k? on Retirement tax questions. April 8, 2025 8:22 PM
- Posted Re: Where do I exactly enter my solo 401(k) employer contribution portion using Turbotax Home and... on Retirement tax questions. April 8, 2025 7:19 PM