Roth 401(k) Match: Unexpected Tax Surprise
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Roth 401(k) matches: Unexpected tax surprises - The Secure Acts new Roth 401(k) matching feature can lead to unexpected tax bills, as the IRS treats it as a Roth rollover, reporting the full amount as taxable income. Workers may face unexpected tax bills without any withholding, and small business owners with SEP or Simple IRAs may also be affected. Timing and full vesting requirements add complexity, and tax preparers may mistake it for an early withdrawal penalty. Its crucial to review statements, set aside cash for taxes, and consult with an advisor before choosing Roth.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/23233b47eb427dee