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 varsity football team begins preseason practice
CENTRAL VALLEY — The Monroe-Woodbury Crusaders gathered at the high school this on Monday, Aug. 13, to start their three-week...
Read more »
Image

Skoufis gets $25,000 state grant for M-W CARES Day
CENTRAL VALLEY — Assemblyman James Skoufis (D-Woodbury) has secured a $25,000 state grant for Monroe-Woodbury High School to use for...
Read more »
Image

Holly Tree Service celebrates 40 years of saving trees
GREENWOOD LAKE — For the past 40 years Holly Tree Services, located at 32 Chestnut St. in the Village of Greenwood Lake, has been providing residents throughout the area...
Read more »
Image

Amanda Krocian wins archery competition
MIDDLETOWN — Amanda Krocian of Monroe won first place in this year's Scholastic 3-D Archery Girl's Division.
The eight-week...

Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers


MOST COMMENTED



Weather in Monroe, NY