|
Originally Posted by sailingfun
(Post 3531274)
That would be a fair tax system where everyone including the rich paid taxes. The rich don’t like paying taxes so it will never happen.
I assume the blame for our current way of doing taxes lies more with major accounting companies. Also the rich may not like paying taxes, but it looks like they are still paying. https://taxfoundation.org/federal-income-tax-data-2021/ |
Originally Posted by StickPig
(Post 3531252)
I keep seeing “DPSP.” Only a year on property here, but I assume that differs from the DC 401k? If so, where can I read more about it?
"As mentioned above, Company contributions to the Delta 401(k) Retirement Plan for Pilots would have stopped if the combined contributions (yours and the Company’s) reached $58,000 in 2021, per IRC 415(c)(1)(A). Further Company payments (16%) continued in the form of taxable wages and are listed under Earnings as “401(k) Excess.”Note: Catchup contributions (max $6,500) are not counted against your individual contribution limit ($19,500) or the combined contribution limit ($58,000). If you reached the income limit set forth by IRC 401(a)(17) of $290,000 in 2021, the Company contributions to the Delta 401(k) Retirement Plan for Pilots ceased, regardless of whether you’ve reached the 415(c)(1)(A) ($58,000) limit. Upon reaching the 401(a)(17) income limit, all further Company contributions are received as taxable wages and listed under Earnings as “401(k) Excess Plus.” For tracking purposes, the contributions that apply to the combined limit are listed under Employer Contributions using the term “Company 401(k) Fixed.” |
Originally Posted by Gone Flying
(Post 3531285)
who likes paying taxes?
I assume the blame for our current way of doing taxes lies more with major accounting companies. Also the rich may not like paying taxes, but it looks like they are still paying. https://taxfoundation.org/federal-income-tax-data-2021/ "The rich need to pay their fair share".....I've heard that somewhere. |
Originally Posted by Buck Rogers
(Post 3531305)
Come'on, Man. Don't let facts get in the way of a good emotional appeal.:rolleyes:
"The rich need to pay their fair share".....I've heard that somewhere. |
Originally Posted by CX500T
(Post 3531270)
As someone who has spent most of my time at Delta basically making up for my 30s being an economic wasteland (paying off medical debt, student loans, etc) what would be the reason to intentially max out the 61k limit early, if the net taxable income is the same.
Say I put in 20k pre tax. (limit is around there, I would hit that if we were in a PS year) Company limit is now 41k to hit 61k. Now hitting that at $256k or so, which is well in the "I just fly ALV" range for a 320A But now the last 10k of the 16% is 401k Excess (DPSP in the old payroll code) If my taxed income is the same is there a benefit to having put it in myself or not? Thru OCT 31 pay stub this is mine: $39,526 COMPANY 401K FIXED $7,411 410(K) $4,941 ROTH Right now, I will probably have about $57,500 between all three (assuming RES guarantee rest of year) I want to say I have 3% 401k, 2% Roth, but last time I set those numbers I was coming back from long term mil leave but that looks right. what would be the reason to intentially max out the 61k limit early, if the net taxable income is the same. So. In simplest terms, if you given a choice to invest 61k tax free, would you do it asap, or wait? BTW, your pay stub blows mine out of the water. Like way out. Nice job.:) |
Originally Posted by OOfff
(Post 3531309)
the “1% paying more tax than the bottom 50” trope is kinda meaningless without knowing what share of the income they’re receiving.
|
Originally Posted by AirBob
(Post 3531310)
what would be the reason to intentially max out the 61k limit early, if the net taxable income is the same.
So. In simplest terms, if you given a choice to invest 61k tax free, would you do it asap, or wait? BTW, your pay stub blows mine out of the water. Like way out. Nice job.:) |
Originally Posted by Tailhookah
(Post 3531191)
The MBCBP is a win for everyone. Whether you participate now or later regardless of the minimum balance option being suggested. For those of you who were a UNA don’t forget that those so-called greedy pilots (who got pensions canceled or frozen) voted to not send you to the street without payment, that would’ve come out of their pockets. Instead during a period of unprecedented world strife and the unknown future of the airline industry those pilots didn’t want the UNA’s to suffer like they had personally did in the past (B scale, furlough in 90’s and post 9/11 where zero furlough pay was given). As far as min balance…. I’m sure there will never be a way to convince some of you, even if you were a UNA that sometimes some on the list benefit more than others. There are selfish people at all ages. And all seniority.
Sorry, I’ve gotta throw the BS flag on this argument. Drawing an equivalence between UNA/WARN notice pilots potentially having NO job at all to DZ’ers having a little less in retirement is absurd. I don’t blame you for wanting MB. Truly. But you can’t blame the vast majority of the list balking at “taking care” of a small remainder of pilots 17 years later who had 5 extra years of peak-earning work. Especially when the pilots who retired 1 day short get nothing. It’s not going to happen. The votes walked out the door with the VEOP. And we are adding 200 post-probationary pilots a month who as (mostly) don’t want it. |
Originally Posted by Gunfighter
(Post 3531320)
Front loading (via 401a after tax) is how many of us maximize Roth contributions.
I've basically taken this year to recover from my year on orders (yes, company 401k gets there but my take home was less than half of my Delta pay) but next year I'm open to ideas. Sent from my SM-G965U1 using Tapatalk |
Originally Posted by FangsF15
(Post 3531327)
Sorry, I’ve gotta throw the BS flag on this argument.
Drawing an equivalence between UNA/WARN notice pilots potentially having NO job at all to DZ’ers having a little less in retirement is absurd. I don’t blame you for wanting MB. Truly. But you can’t blame the vast majority of the list balking at “taking care” of a small remainder of pilots 17 years later who had 5 extra years of peak-earning work. Especially when the pilots who retired 1 day short get nothing. It’s not going to happen. The votes walked out the door with the VEOP. And we are adding 200 post-probationary pilots a month who as (mostly) don’t want it. |
| All times are GMT -8. The time now is 08:21 PM. |
Website Copyright © 2026 MH Sub I, LLC dba Internet Brands