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Started By
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re: High Earners Age 50 and Older Are About to Lose a Major 401(k) Tax Break
Posted on 9/24/25 at 8:27 am to Mingo Was His NameO
Posted on 9/24/25 at 8:27 am to Mingo Was His NameO
quote:
No one forces you to live here or make money. You have free will. You could move to the middle of nowhere with tribes that pay no taxes, but you choose not to and accept the social contracts of American society…. If you want to get all philosophical
and taxation is still theft. Your statement does not change that or even address that.
1
Posted on 9/24/25 at 8:28 am to N2cars
quote:
The "rich" aren't the ones leaching off the system, comrade.
The ultra elites who send their money to offshore banks to avoid taxation sure seem like they are.
It’s the upper middle class folks, who are perceived as part of the rich class but don’t have access to elitist loopholes and offshore banks, who get taken to the woodshed these days.
Posted on 9/24/25 at 8:33 am to biglego
quote:
CPAs wouldn’t like it but I’m ready for a national sales tax
I don't want to emulate Europe.
Posted on 9/24/25 at 8:37 am to ragincajun03
ok well what about those of us that are over the income limit to even have a roth?
Im not near old enough to do any catch up but its such bullshite they put income limits on things like a roth or even a cap on total. Im paying the taxes up front....shouldnt matter later.
i fricking hate our tax code
Im not near old enough to do any catch up but its such bullshite they put income limits on things like a roth or even a cap on total. Im paying the taxes up front....shouldnt matter later.
i fricking hate our tax code
Posted on 9/24/25 at 8:38 am to lsu777
There is no income limit on roth 401ks
Posted on 9/24/25 at 8:41 am to Upperdecker
quote:
You’re a high enough earner to get the full girth of the tax code thrown at you, but not high enough of an earner to get a top tier tax guy to put you in all the loopholes
Yup. It ain't right. It's time for poor people to start paying their fair share.
This post was edited on 9/24/25 at 8:41 am
Posted on 9/24/25 at 8:42 am to notsince98
quote:
and taxation is still theft. Your statement does not change that or even address that.
Someone can’t steal something from you that you agree to give them
I directly addressed it, you’re just too stupid to understand it
Posted on 9/24/25 at 8:43 am to JohnnyKilroy
quote:
There is no income limit on roth 401ks
my bad, wasnt familiar with roth 401k, only roth ira which just piss me off since im not able to contribute to and havent been able to in a long arse time. annoying.
Posted on 9/24/25 at 8:44 am to ragincajun03
quote:
The ultra elites who send their money to offshore banks to avoid taxation sure seem like they are.
This is such small potatoes in the thing of things. Like not even worth worrying about from a numbers perspective
Posted on 9/24/25 at 8:45 am to lsu777
quote:
only roth ira which just piss me off since im not able to contribute to and havent been able to in a long arse time. annoying.
You can easily backdoor into a Roth
Posted on 9/24/25 at 8:48 am to lsu777
quote:
only roth ira which just piss me off since im not able to contribute to and havent been able to in a long arse time. annoying.
Just backdoor it. I max out my roth ira every year and I'm way over the limit.
Posted on 9/24/25 at 8:50 am to JohnnyKilroy
quote:
Just backdoor it.
Most people have no idea what this means or how to do it.
Posted on 9/24/25 at 8:52 am to Mingo Was His NameO
quote:
You can easily backdoor into a Roth
ill look into it. appreciate the info from yall
Posted on 9/24/25 at 8:52 am to Mingo Was His NameO
quote:
Older workers were putting in pre tax money. Said worker dies, but never pulls the money out the traditional 401k, thus it isn’t taxed. That money is then passed down to their heirs at a stepped up basis and tax is never paid on the incremental amount between their contribution amount and the new basis amount
I hate taxes, but thank you for explaining this rule in a way that makes sense
Do you know why the exceptions for self employed vs. corporate? Are they already paying these taxes somewhere else as a part of being self employed??
Posted on 9/24/25 at 8:53 am to DownshiftAndFloorIt
quote:
Most people have no idea what this means or how to do it.
That's too bad. It takes like 15 mins of research and brokerage firms like vanguard, fidelity and Schwab make it incredibly easy to do.
Posted on 9/24/25 at 8:53 am to ragincajun03
quote:
The ultra elites who send their money to offshore banks to avoid taxation sure seem like they are.
I’m not saying that this doesn’t happen at all, but post-FATCA it’s not happening as much as you think it is. It certainly isn’t happening in the Cayman Islands, which is the jurisdiction most people point to.
Posted on 9/24/25 at 8:56 am to ragincajun03
quote:
which set the threshold for a high earner at more than $145,000 in wages.
Is this individual or household?
Posted on 9/24/25 at 9:00 am to N2cars
quote:
The "rich" aren't the ones leaching off the system, comrade.
Oh man
Posted on 9/24/25 at 9:01 am to Mo Jeaux
When I think of the "elites leeching off society" I think of things like cities/states whoring themselves out and giving special tax treatment or other perks not available to anyone else to attract businesses that already make more money than god.
Like I can somewhat understand giving new businesses/industries some breaks in order to spur innovation but there's something that just sticks in my craw about giving gigantic tax breaks to corporations that make hundreds of billions a year. Or heavily regulated utilities spreading increased costs to all of their customers after a new datacenter that none of the local community asked for comes online.
Like I can somewhat understand giving new businesses/industries some breaks in order to spur innovation but there's something that just sticks in my craw about giving gigantic tax breaks to corporations that make hundreds of billions a year. Or heavily regulated utilities spreading increased costs to all of their customers after a new datacenter that none of the local community asked for comes online.
Posted on 9/24/25 at 9:01 am to ragincajun03
Awesome! I am eligible to do my catch up next year . Good news is that I wasn’t going to make catch up contributions anyway.
. Good news is that I wasn’t going to make catch up contributions anyway.
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