{ "media_type": "text", "post_content": "Hi Fishies,\nI got paid on a 1099 for one job and want to put it in a 401k fund to avoid paying taxes. When is the deadline to do that? End of 2019 or before end of financial year? TYSM!", "post_id": "5d89ec21962d29002be831d0", "reply_count": 8, "vote_count": 0, "bowl_id": "5908c9d5f735ee00105b9fa4", "bowl_name": "WFH Freelancers" }

Hi Fishies, I got paid on a 1099 for one job and want to put it in a 401k fund to avoid paying taxes. When is the deadline to do that? End of 2019 or before end of financial year? TYSM!

Posting as :
works at
You are currently posting as works at

Research SEP IRA. Think you can do it by April 15, 2020 for this tax year.

like

Thank you!

Yes, SEP IRA or even just your IRA. A 401k is tied to your job or former job and you just can’t throw other money in there. Also, there are contribution limits to all of these vehicles, so if you put too much in you could be penalized. You really need to talk to an accountant about this vs asking fishies.

like

Awww but I wuv u guys

Ask your accountant.

like

Call your 401k fund people. Personally, I’d do it ASAP

didn't know this was an option. can you just contribute to the max amount?

Related Posts

‪Accidentally gave the wrong insurance information and was told there'd be a $1000 deductible. I can't stop thinking about how millions of Americans can't have access to healthcare because of this 😓

like

Hello, anyone from Akamai technologies, Bangalore?? Need some info on the employee benefits (covid benefits). Thank you.

like

Feeling like my firm has a very outdated parental leave policy (and none of the women partners have children)! What is the parental leave policy at your firm? Please include: (1) size of firm; (2) location of firm (city, state); (3) how many paid weeks off from firm (not state/fed benefits); (4) other policies such as ramp up/down time, etc.

like

Can someone tell me where should I put my money, Roth or traditional? Should I also contribute to hsa? How do I max out all contributions and benefits?

like

Accidentally over contributed to my 401k because i switched companies midyear and forgot to cap contributions in my new plan. What is the best solution for this?

like

Setting up our first small business 401k! Should we be an ERISA 3(38) advisor? What are the pros and cons?

like

Things to do before resigning? Like, gym membership reimbursement?

like

Thoughts on Indexed Universal Life Insurance as an investment vehicle? I hear the pros and cons from the sellers of this, whom I understand gain heavy commissions. But wanted to get thoughts from investors and if this isn't a good vehicle, what alternative investment vehicles do you suggest (outside of stocks, Roth, 401k, and real estate)? Looking to diversify my portfolio. I'm 43, married, income 600k combined, and we have 2 properties worth 3m and investment accounts worth ~2-3m. Thanks!

like

2nd year associate here (going into my third). Will have about 114k in student loan debt at the turn of the year. I have roughly 60k in my investment account, 45k in 401k and an adequate balance in my emergency fund. I also contribute to my HSA and will cross the threshold for investing that in January. During 0% on student loans i have been using every spare dine to pay that down. My question is should that continue or should I tone that back and start investing more? Cont’d in comments...

like

Anyone on here complete grad school through GSAP and go back to Deloitte and have any pro tips for how to do it right? (Max reimbursement, things to do before you leave, benefits, etc.)

like

Has anyone heard of Kaufman Hall? What's the culture like? Reputation? A recruiter reached out to me about their healthcare practice and I can't find much online

like

What generally produces better returns - 401k invested in index, or landlords with leverage?

like

Help a new international consultant in NAMR. Please. Tax planning season. 1. I have maxed out 401K. 2. If I put money in traditional IRA, and then roll over to Roth IRA - what is the tax treatment? If this is post-tax money, do I pay any additional taxes now or later on capital gains? 3. Are there other avenues I am missing? Thank you very much in advance.

like

I'm 25M with about 2k monthly savings after discounting all expenses and 401k. Any advice on how to invest 1.5k every month considering I would need $500 for food and other expenses.

like

Best consulting firms in Houston for Healthcare?

like

Which Big 4 has the best benefits?

funnylike

I’m changing jobs and near my 401k limit in my current plan. How do I limit contributions with my new employer while still maximizing the match?

like

In mid 40s, recommendation to have 401k portfolio. I have vanguard with only 155k as I started 401k few years back..

like

Deloitte moms, did you get 100% of STD if you took maternity leave as a SC? I haven’t been able to get a concrete answer from MetLife for some reason and now concerned.

like

What did you guys do with your 401k and your shares before leaving the firm?

like

Additional Posts

Anybody work at Amazon? Are their offers negotiable? My husband got an offer for a senior position in the VA office paying $120k plus $20k bonus plus 13 shares of stock that vest over 4 years. My husband has ~6 years of experience (2 yrs midsize PA plus various industry roles) so the senior title is low but have heard you have to take a step down in title to work at Fortune 25 companies. He likes the offer but not sure if he should negotiate for more because it’s expected?

like

What is a reasonable salary expectation for exit opportunities for an audit M1 looking to move into an accounting/reporting role? HCOL (NYC area)

like

What type of technical questions would you expect from a 30 minute technical question PE interview? The other half of the interview of an assessment of a CIM.

like

Looking for unpaid/paid internship positions for a college freshmen, is your firm hiring?

likefunny

After banks, layoffs to begin at Big 4's brace for impact!

like

United direct flight from Newark to Delhi in May. Does anyone have experience flying this (or from DEL to EWR) recently? It‘s direct online but I’ve heard it connects because of airspace restrictions.

Consulting bowl when all Deloitters move to MBB.

Post Photo
likefunny

What's the salary range for Senior Experience/UX Designers in the Denver/Boulder area?

What are some scenarios that would cause the USCIS to deny someone’s H1B after being selected in the lottery?

like

What's the lowest utilization you have had at any given time?

like

Editing my cv for FAANG strategy roles (specifically Google and Facebook). Any tips on what to emphasise? Mckinsey + IB background with LBS EMBA; South African so would need that visa sponsership.

likehelpful

How long should I stay at an “A-list” agency if I haven’t made anything worthwhile? It’s not for a lack of work ethic but a lack of luck with everything getting killed by client.

like

Client meeting on Friday afternoon 😞

like

Just learned from a colleague that they were selected for GS-13 off the street without an interview. Is this common?

funnylike

When people leave big 4, what positions are you leaving for? And for what salary?

like

Deloitte 🐠 What's a fair pay in Canada for an incoming BTA from a top school in Canada. Have past internship exp and an engineering degree. Don't have stellar grades but got some other leadership experience. Also female.

like

Anyone use Wheels Up for their travel? If so how is it?

like

I am new to RR this year. I am excited about this new journey and created this group to hear advice and tips for classroom setup, organization, and time management. Thanks to all who comment!

like

Mom justgot diagnosed with pancreatic cancer. Without treatment, the doc says she's got 6 mnths. She wants to enjoy the time she has left and not go through chemo, etc. Any advice frm others with exp?

likeuplifting

Does anyone else find it absolutely hysterical that people group MBB/FAANG/PE/VC for the prestige-oriented folks and they never include BB IB 🤣

likehelpful

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal