Quote:
Originally Posted by Aurel
Is the income taxation of a 401k based on the whole amount, or only the interests?
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If you asked for $50k, you'd get $40k, then at the end of the year, you'd have to fork over another $5k. 20% when you get the money, plus another 10% at tax time. It's not pretty.
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Steve
'08 Boxster RS60 Spyder #0099/1960
- never named a car before, but this is Charlotte.
'88 targa
SOLD 2004 - gone but not forgotten