-2% ss- tp gets it!

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • BP.
    Senior Member
    • Oct 2005
    • 1750

    #1

    -2% ss- tp gets it!

    She knows about the 2% reduction in ss tax w/h this yr, gets the ramifications, and . . . ta-da, she upped her 401K contrib by 2%! Love it!!
  • oceanlovin'ea
    Senior Member
    • Jun 2005
    • 2682

    #2
    smart lady

    I'll have to suggest that to my clients.

    Linda, EA

    Comment

    • JohnH
      Senior Member
      • Apr 2007
      • 5339

      #3
      Just be sure they understand there's an offsetting increase in their Federal withholding as well. Putting the 2% in the 401(k) is a great idea, but after all withholdings are adjusted they will see a net decrease in their take-home pay.
      "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

      Comment

      • ChEAr$
        Senior Member
        • Dec 2005
        • 3872

        #4
        also make sure they understand the 2% reduction is a one year "fix" only.
        ChEAr$,
        Harlan Lunsford, EA n LA

        Comment

        Working...