What Taxes Are Exempt When You Have a 401K at Work?

Answer Contributions you make to a 401(k) retirement plan are tax free. More specifically, they're income tax free: If you contribute $5,000 out of your paycheck to the account, there's no withholding on ... Read More »

Top Q&A For: What Taxes Are Exempt When You Have a 401K at Work

Do I Have to Claim 401k Withdrawals on My Taxes?

You must report 401k plan withdrawals on your taxes. Traditional 401k plan withdrawals will be included in your taxable income. Qualified withdrawals from a Roth 401k plan must be reported but will... Read More »

Do i have to claim 401k withdrawal on my taxes?

On One Hand: Yes, You Do.You must report a withdrawal from your 401k retirement account when you file your taxes, according to TurboTax. The income in your account is tax deferred, so you don't act... Read More »

When are you exempt from filing income taxes?

According to the Internal Revenue Service, you may be exempt from filing income taxes if your income on the return is below the filing requirement. However, some financial transactions--like sellin... Read More »

How to Have a Church Exempt From Property Taxes?

Gaining tax exempt status for your church will save you thousands of dollars each year. Your tax exempt ID number will excuse the church from paying property taxes, and sales taxes on everything fr... Read More »