Started By
Message

re: .

Posted on 6/24/15 at 12:28 pm to
Posted by CQQ
Member since Feb 2006
17048 posts
Posted on 6/24/15 at 12:28 pm to
Ah, I think I got it. The 5% going into my 401K is definitely 5% of my gross pay but my taxable gross is my gross less what I put in my 401K.

This is what you were saying, right?
Posted by HoustonTiger2008
Member since Feb 2015
631 posts
Posted on 6/24/15 at 12:31 pm to
quote:

The 5% going into my 401K is definitely 5% of my gross pay

Yep.

quote:

but my taxable gross is my gross less what I put in my 401K.

Well this would make it a traditional 401k contribution. Deducting the amount you contribute before you pay taxes on the money.

What I am saying is maybe on your check they take the 5% out of your base (gross) salary and then take out taxes and insurance and arrive at your "net" pay, but then they deduct the 5% of your gross from that amount. That would be a Roth 401k contribution in that it was deducted from your paycheck after you paid taxes.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram