In this video, I answer the question, "how much can I contribute to my 401(K)?" First, I explain how the 401k works and a comparison to the Roth IRA. Then I talk about a few of the 401(k) retirement rules. After, I show a w-2 form so you can see how the 401k reduces your taxes but is still subject to social security and Medicare taxes. Lastly, I explain how the matching contributions work and go through a few examples of how the 401k reduces your taxes. ///////////////////////////////////////////////// Get answers FASTER... Join this channel to get access to perks: Chat on discord: Join Link Support on Patreon: Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U ----------------------------------------------------- Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE Our financial planning process is an on...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)