Tax Expert Noel Spencer: 401K


Make text smaller Make text larger



Photos



  • Noel Spencer



What is a 401K plan?


A 401(k) plan is a qualified plan that includes a feature allowing an employee to elect to have the employer contribute a portion of the employee's wages to an individual account under the plan. The underlying plan can be a profit-sharing, stock bonus, pre-ERISA money purchase pension, or a rural cooperative plan.

Generally, deferred wages (elective deferrals) are not subject to federal income tax withholding at the time of deferral, and they are not reported as taxable income on the employee's individual income tax return

Noel Spencer
735 Broadway, Newburgh, NY 12550
845-220-2080
Ask Noel Spencer a Question
www.spencersfinancial.com




Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

M-W Girls and Boys Cross Country teams continue pursuit of Division 1 championship
MILTON — On Tuesday, Sept. 18, the Monroe-Woodbury Girls and Boys Cross Country teams beat NFA in league meets to complete another...
Read more »
Image

Sign language classes for kids now available at Monroe Free Library
MONROE — My Grown-Up & Me Sign Language, a sign language class for babies, toddlers and their parents, always begins with a...
Read more »
Image

Skoufis and educators join in call to repeal appr to let teachers teach
GOSHEN — Assemblyman and State Senate candidate James Skoufis (D-Woodbury) joined local education leaders on Monday to call for...
Read more »
Image

Seasonal pumpkins bring more 'orange' to Orange County
GOSHEN — Orange County’s “pick-your-own” pumpkin farms offer a myriad of fall family fun activities all season...
Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST COMMENTED



Weather in Monroe, NY