Friday, 27 March 2020

What taxes are deducted for Roth 401k?

Coleen Carignan: You pay taxes on your normal income just likeif you didn't have a Roth. It makes no difference.The huge difference is when you start withdrawingmoney in your retirement years, you don't pay anytaxes.

Claude Gloden: You pay your taxes before monies are put into your Roth. Everything is just what it says - everything (federal, state, social security, local taxes).All taxes are paid before your money goes into your Roth. No taxes are paid when it comes out.

Majorie Chester: When you take it out? None. When you put it in, everything.

Sol Bayn: What is considered everything tax?

No comments:

Post a Comment