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-2% ss- tp gets it!

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    #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!!
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    #2
    smart lady

    I'll have to suggest that to my clients.

    Linda, EA

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      #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

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

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