How does the boss contributing to an employee's 401K benefit??

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How does the boss contributing to an employee's 401K benefit??

2006-12-31 11:58:44 · 3 answers · asked by wondering... 2 in Politics & Government ➔ Law & Ethics

3 answers

Contributions are tax deductible. Earnings grow tax deferred. builds Retirement money. Money not available to creditor in a lawsuit. Keeps his AGI lower so that itemized deductions are not phased out as bad and may end up with some medical expenses that sneak in below the 7.5% of agi and become deductible. there are more reasons, but I 've got to move on.

2006-12-31 12:10:47 · answer #1 · answered by protocols 2 · 2⤊ 0⤋

Some don't,as a matter of fact there has been and outbreak of where the boss has stolen the employee's 401k,and if you never check on it you won't know till you retire.

2006-12-31 20:29:56 · answer #2 · answered by kman1830 5 · 0⤊ 0⤋

i would say a tax write off.

2006-12-31 20:11:07 · answer #3 · answered by waljac6108 5 · 0⤊ 0⤋