Are 401k deductions tax deductible?

Answer You make contributions to your 401k plan with pretax dollars. This money is not taxable income and therefore is not deductible. For example, if you made $46,000 and contributed $3,000 to your 401k ... Read More »

Top Q&A For: Are 401k deductions tax deductible

Do you pay social security tax on 401k deductions?

Contributions that you make to a 401k plan are not included in your taxable income, but they are still subject to payroll taxes. Payroll taxes include the Social Security tax and Medicare tax.Sourc... Read More »

If you have an accident before the deductible is lowered but the claim is not filed until after which deductible applies?

Answer The deductible at the time of the accident not the time of claim.

What is the minimum deductible for high deductible health plans?

The minimum deductible for a high deductible health plan is $1,200 for an individual and $2,400 for families in 2010 and is set by the U.S. Department of the Treasury. This is up from $1,150 and $2... Read More »

Which is better 500 deductible or 1000 deductible?

Answer It depends. If you plan on having a lot of claims against the insurance, 500 deductible is a better deal. If you only want the insurance to protect you from MAJOR disasters that don't usuall... Read More »