Can someone explain Roth IRA to me. Why would you be in a higher tax bracket when you're retired? Wouldn't you have limited income at that point?

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tax free growth and no taxes later is very appealing to old me. old me will thank young me.

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Back door is the way to go!

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Depends a lot on how you live.
May have several taxable income sources when retired, or may be on a tax-free fixed income or some mix of taxable and non-taxable (or previously taxed) income

not if you have investments, 401k, pensions, side hustle funds and so on.

General rule of thumb is if you’re early in your career and meet the income requirements (check the IRS publication), max out your Roth IRA ($6K per year)

You might also phase yourself out of being able to deduct your traditional IRA contribution fairly quickly, I believe it starts at 64k for single filers where ROTH allows for nearly double that.

I've always wondered the same thing. I saw no point in contributing to it unless you plan to continue working in some capacity well passed the official retirement age (when you're forced to begin withdrawing)

zero chance SS implodes. easy fix, remove the salary cap and it's solvent as-is for perpetuity.

by the time you're 65, a large proportion of your investment balance will be investment gains, not principal, so you'll pay tax now on the principal, but withdraw your larger sum of gains tax free.

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likefunny

How much can we save in Canada Onsite ? Tech lead role. Avg sal in glass door is $80k .

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Hey fishes, can someone tell me how the 80c bracket works, i know i can get exempt upto 1.5lakh under it, what i wanna know is does PF comes under it or not? For example if my yearly pf deduction is 20k and VPF is 10k so now will i still be able to show investment of 1.5lakh under 80c apart from PF and VPF or i'll be able to get exemption on only 1.2 lakh( 1.5lakh-30k= 1.2lakh)?

Thank you in advance!!

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Does Boston Consulting Group have the following?
- HSA
- After tax contributions to 401k w/ in plan Roth conversion

I’m joining in a few weeks and doing some planning on how to adjust my existing accounts/strategy.

Thanks!

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I only have Reg left. I failed it once before. For those who have passed Reg what were some of things you focused on? Also if you have any study tips I would really appreciate it, tax has never come naturally to me.

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Phone and Internet bills reimbursement claim in Grey HR. With this claim are we getting Income tax exemption or reimbursement of cost. Can someone clarify it.

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Anyone know when Ch. 7 BKs must close by? Is this changed by when there are adversary proceedings (alleged fraudulent transfers made to a bank for CC payments)? Asking for my friend who is unfortunately involved bc of his parents, who are the debtors (he isn’t a defendant or a debtor in this, but the payments were made to a CC in his name—a CC he didnt know was opened in his name).

Its in Texas, and the initial BK filing was made about 23 months ago. TIA!

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Anyone use the Apple Card to buy iPhone on monthly installments and submit Apple statements for the cell reimbursement? Or do we have to buy phone through cell carrier?

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What’s the general guidance on the order to maximize retirement contributions for tax benefits for an normal individual and for a self employed/small business owner before moving to taxable accounts or alternate vehicles like cash value life policies?
I’ve seen for individual: match trad 401k->match roth 401k->max roth IRA->max trad IRA->max trad 401k->max roth 401k->max HSA
For self employed: max SEP IRA/solo 401k->max roth IRA->max trad IRA->max HSA

Of course situations differ but in general?

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150K in Singapore, and $150K in Chicago. Which one would you accept?

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Hi new to crypto! What apps/sites would you all recommend to start investing? I have Robinhood but it doesn’t have a lot of the crypto options

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Anyone concerned with the dip in the market now? Both brokerage and 401k has taken hit. What are different things you folks are doing??

likefunny

I’m in real estate tax group and looking for good books about RE fund/investments/accounting during non busy season. Any recommendations? Thanks!

Could this be an ICO? This seems like a massive crypto play.

Post Photo
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Best place to get pre-qualified for a mortgage?

I have some collections on my credit report. One from an electric company for $800 (imo they violated terms of contract and sent me to collections in spite of their fuck up), and an apartment for $80~ that charged me a cleaning fee when my apartment was spotless.

Despite these two collections have a 712-720 credit score.

So mortgage lenders care at all about the collections or is it mostly the credit score that matters?

(cont)

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Guys, I had very less HRA for April 2022 till August 2022. I was showing 1 lac annual rent .I joined new organisation in sept and now HRA is 43000 per month. Would that be okay to show high rent as 30000 per month to my wife as landlord. Earlier I was paying 9000 rs per month to different landlord. @ IBM

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Hi All,
One of my friends has recently joined capgemini and has following doubts related to tax proof.
Can we edit the tax declarations in HGS portal every month any day?
Does Capgemini asks for rent agreement along with rent receipts as a part of tax proof submission?
Also which proofs needed for,
80c - elss lic
80d - insurance for senior citizen parents
80ccd1b - nps

Looking to buy 35K marriott bonvoy points. Let me know if anyone’s willing to sell?

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Will Amex restricting guess access for Centurion Lounge actually make any difference?

I can see short term changes but the way Amex has been aggressively marketing Platinum card, we just will have overcrowding of primary card holders 🤷🏻‍♂️

What's next, everyone has to spend min. 50k a year to get Centurion lounge access or pay per visit.

likeuplifting

Was there ever a time you wanted to give up being a real estate agent?

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Anyone know of any open positions in D/FW? 8 YOE on the agency side, masters degree in public administration. Looking to go client side to do Corp comms/public affairs. Any leads welcome!

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Best YouTube channel to learn Salesforce?

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The audacity 🐝

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likefunny

It’s not that bad.

likefunny

If anyone is looking to work for Stryker DM me. Can give more info and potential referrals.

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Can anyone please help me to figure out how much is fixed and how much variable?

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This is a question about friendships. Two friends got into a really bad fight this past weekend. They have each asked me to hang out this weekend. What do I do? I don’t want to have to choose sides. One is a friend I’ve known a little longer and has been a good friend and so she would feel betrayed and angry if she knew I were still friends with her now-enemy. The other I’ve known less longer, but we seem more compatible. Advice??

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Since we returned to office in October, is it appropriate to give holiday gifts to team members?

likeuplifting

Www.helenesnotes call now to sign up for the fall! 516-474-6181 Online lessons! Give them or yourself something fun, positive and good to do! All ages 5 and up including Adults!

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Have you ever been too attached with a work friend, that you get devastated about his leaving? Not romantically. I cried when I heard the news. Though he did not give me head up before he put in notice, I felt somehow betrayed

likefunnyuplifting
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Hi
Can anyone help me how should i explain my project on which i worked in my current company to the interviewer.would be very helpful if someone can help with the basic format from start to end or else can give example of their own project.

Thanks in advance

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I used to see people who didn't care about current events or politics as intellectually lazy and irresponsible.

However, I feel burnt out on the constant stream of divisive bickering and toxicity.

It feels like ideas don't matter and pragmatism has become a dirty word for both sides.

For the first time in my life, I don't want to know what's happening in the world and I don't care who wins.

Apathy feels good right now.

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Sherlock is the best player 2

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Any pointers for interview process of Staff Engineer role for python developer having 8 years of experience? How many rounds of interviews? Will there be coding test? Any help would be much appreciated.

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TFW you get two sets of plasticware in your pick up order for one

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Anyone here left ACN for KPMG? What group did you move from and to what group within KPMG?

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Got a 74 on FAR. Got a 73 last time I took it. Just kill me now. Ready to give up on this process. Going to lose credit for AUD now with REG not far behind. I studied so hard and really thought I

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I work in quant and rely on our company’s database for everydays task, but couldn’t get any support from the company’s tech/data team. It’s been such a struggle. Everyday im fighting with red tapes and firewalls. :(

Brand new (like, just-had-a-kid new) mom here. Life seems manageable with the baby sleeping much of the time. It gets worse from here doesn’t it? I’m scared 😱😱😱

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Additional Posts in Employee Benefits

EY folks, anyone get their Invisalign covered by insurance?

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Does Boston Consulting Group have the following?
- HSA
- After tax contributions to 401k w/ in plan Roth conversion

I’m joining in a few weeks and doing some planning on how to adjust my existing accounts/strategy.

Thanks!

like

Anyone use the Apple Card to buy iPhone on monthly installments and submit Apple statements for the cell reimbursement? Or do we have to buy phone through cell carrier?

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Has anyone taken sabbatical? What was the process and did it affect your year-end?

likehelpful

I have $30 remaining in my technology subsidy. Can I use it to pay part of a purchase of an earphone set worth $200

Any insider knowledge of EY modifying the frequent traveler program policy now that most travel will be reduced?

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If I decline health insurance at IBM, do I get a cash payment? I have an offer from another firm that gives me $5k... does IBM give anything?

(Wife has free health insurance via her city job)

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@Cloudflare - What is the maternity + parental/bonding leave like? How long, fully paid, max time one can take, etc. TIA!

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Your firms most underutilized/unknown benefit?

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Has anyone successfully used an education benefit? What's the process?

Im interested buta little nervous about my firm because you have to pay up front and then get reimbursed.

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Does EY help pay for hearing aids? Starting full time this fall and I think I remember reading something about it when I interned but I no longer have access

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PwC 🐠 - health insurance coverage. What are the deductibles for the high-deductible plans? Still want to use the HSA. Thanks!

Does MBB provide breaks around the Christmas/NY time frame similar to B4?

likehelpful

Just joined this bowl and disappointed to find 80% of the posts are just people too lazy to read their employee handbook... I’m here to ask, any firms offers MilkStork as a benefit.

likefunny

When you finally got your CPA license how much has your salary jumped ?

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If you have a child during your first year of employment at your firm, are you eligible for the firm’s full maternity leave benefit? Or only if you have a child after your first year anniversary? TIA.

likehelpful

At EY is I was reimbursed for a stationary bike 2 years ago. Would EY reimburse me for a road bike this coming year? There's a stipulation that says every 5 years but I'm not sure if that means for another stationary bike or if I can get a road bike and be reimbursed.

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EY folks - how do I increase my firm group life insurance coverage (not the group universal / variable policy)? My wife’s coverage is at like 3x my salary but mine is only at 1x my starting salary from 5 years ago…

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Has anyone ever worked remotely outside of the country for an extended period of time? I have family outside of the country that I would really like to spend some time with without sacrificing my job. Any advice?

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What is the general ranking for A-SC firm benefits across commercial management consulting?

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