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<blockquote data-quote="twoweeled" data-source="post: 2216957" data-attributes="member: 27108"><p>Of course contributions are based on gross wages. Where do I say it's based on net earnings? Of course it's based on gross. duhh.</p><p>2. If you are able to exceed the $18,000 max into your 401k contributions, than I am wrong. I am not aware of that. I am basing it on $18,000 max 401 K contributions.</p><p>3. The rest of what you say, is totally wrong. you'd better sign up for my class too. but make it 1st grade summer school. </p><p>"An employee grosses $100K. In order to max his 401K, he contributes 18%"</p><p>No he doesn't contribute 18% to max out. IT'S $18,000 MAX! The IRS doesn't place a max percentage wise, it's a dollar amount, as in $18,000 max. Earn $200,000 and it's still $18,000 max contributed by the employee into his 401K ! Did you go to school with brown slave?</p><p><img src="https://assets.pando.com/_versions/2013/11/depression_featured.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p></blockquote><p></p>
[QUOTE="twoweeled, post: 2216957, member: 27108"] Of course contributions are based on gross wages. Where do I say it's based on net earnings? Of course it's based on gross. duhh. 2. If you are able to exceed the $18,000 max into your 401k contributions, than I am wrong. I am not aware of that. I am basing it on $18,000 max 401 K contributions. 3. The rest of what you say, is totally wrong. you'd better sign up for my class too. but make it 1st grade summer school. "An employee grosses $100K. In order to max his 401K, he contributes 18%" No he doesn't contribute 18% to max out. IT'S $18,000 MAX! The IRS doesn't place a max percentage wise, it's a dollar amount, as in $18,000 max. Earn $200,000 and it's still $18,000 max contributed by the employee into his 401K ! Did you go to school with brown slave? [IMG]https://assets.pando.com/_versions/2013/11/depression_featured.jpg[/IMG] [/QUOTE]
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