Questions tagged [limits]
The limits tag has no usage guidance.
93
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Excess deferrals to after-tax, non-Roth 401k (just happened this paycheck) – just ask the plan for a reversal? Tax implications? MBDR implications?
It’s hard to google this/find this specific situation for advice.
My last paycheck deferral on to my 401k (on 12/8/2023) resulted in exceeding the yearly maximum employer + employee = $66K limit. (2 ...
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When does the IRS typically announce health FSA contribution annual limits?
Based on this and this, as of November 6, 2023, the IRS still has not announced the health FSA contribution limits for the year 2024, even though most private employers have already begun their open ...
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Why a relatively low limit for ACH transfers?
The ACH system supports transfers up to $1 million. However, the highest
limit I see on this list of major banks is only $25,000. Why do banks set
a relatively low transfer limit? From my ...
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Where can I find tax year 2020 IRA contribution limits?
Where can I find tax year 2020 IRA contribution limits? IRS website shows info for only 2022 and 2021.
There are other websites that have this info but I want to be certain by confirming with IRS.
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Roth IRA contribution limit based on salary if salary changes
I was looking at the Roth IRA Contribution Limit on the schawb.com site here:
Roth IRA Contribution Limits
I can see how much I'm allowed to contribute based on my salary, but what happens if my ...
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8
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What is the point of ATM transaction limits?
One time, I needed $300 from an ATM, but this particular ATM had a $200/transaction limit. I took $200 dollars out of my checking account and took my card. Literally a few seconds later, I put my card ...
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173
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What year AGI applies to Roth IRA contribution limits?
I would like to make my Roth contribution for 2022 as early in the year as possible. There are contribution limits based on Adjusted Gross Income. None of the sources I've read made it clear if it's ...
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Roth IRA conversion and income limit
If I convert some amount to Roth IRA from traditional IRA, I understand that this will get added to MAGI and I will have to pay taxes on this amount. My husband and I file tax jointly. Will this ...
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401k refund if an HCE front-loads 19.5k, leaves on March 1, and the ADP test fails?
Let's say it's your third calendar year working for a company with no vested employer match; you're classified as HCE. You make a mistake of front-loading 90% of your income in the first two months, ...
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Is it possible to own an unlimited number of companies?
Is there a limit to how many companies you can create or own? Such as Google owns Facebook, YouTube, Twitter, Google Play Store, Google Games, etc. But those are all branches of Google and not actual ...
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RRSP contributions in first 60 days of calendar year
RRSP contributions made in the first 60 days of the current calendar 2021, can be claimed in the prior year 2020, or later tax returns.
Regarding RRSP contribution limits. If the contribution is made ...
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Why are excess HSA/IRA/401k/etc contributions allowed?
I accidentally made an excess contribution to my HSA (or my employer or HSA custodian made a mistake, it's still not clear). I know what I need to do to correct it, but I'm curious, why is that ...
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84
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Rollover IRA and Roth IRA Contribution Limit?
I have a 401k from a prior employer that I quit from a couple of years ago.
As I cannot invest in it any longer I have decided to move it into a "Rollover IRA".
I already have a Roth IRA. ...
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How does one get the 401(k) max contribution of 57K?
My understanding is that the max individual contribution for 2020 is $19,500.
If employer match is 100%, that gets us to a total of $39,000.
How does one max out the combined employer/employee ...
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Employee and employer 401k contribution limits [duplicate]
From my understanding, in 2020, the maximum an employee can contribute to their 401k is $19,500.
The total contribution limit for an employee and employer combined in 2020 is $57,000.
Now I understand ...
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