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Old 09-14-2021, 04:16 PM
  #21  
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Originally Posted by Fresh View Post
The mega back door Roth applies to all income ranges. This is a big deal. I’ll be calling my representatives.

lol guy still believes his government actually works for him. How cute.
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Old 09-14-2021, 04:24 PM
  #22  
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Originally Posted by Fresh View Post
The mega back door Roth applies to all income ranges. This is a big deal. I’ll be calling my representatives.

Definitely. Thanks LJ Driver . I would never have seen this steaming pile otherwise. Although, I live in a red district, so they wouldn't be voting yes for it anyway.
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Old 09-14-2021, 04:49 PM
  #23  
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Originally Posted by Anderson View Post
The ability to save up to 58k in your 401K by making after-tax contributions and subsequently converting those dollars to Roth (if your plan offers that option) is a huge benefit and advantage.


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Wait, I thought that was one of the targeted areas of the new tax code the uncle joe regime was going after.
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Old 09-14-2021, 05:25 PM
  #24  
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Originally Posted by ERAUAV8TR View Post
Tax the rich!!!!!
Wait…were you wearing a white dress that said that in red letters this past weekend?!
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Old 09-14-2021, 05:27 PM
  #25  
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Originally Posted by Fresh View Post
The mega back door Roth applies to all income ranges. This is a big deal. I’ll be calling my representatives.
Same. This is very significant and I know a lot of people besides myself that use this.
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Old 09-14-2021, 05:41 PM
  #26  
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Originally Posted by Xtreme87 View Post
lol guy still believes his government actually works for him. How cute.
Not as cute as your mom but I’ll take it, thanks.
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Old 09-14-2021, 06:55 PM
  #27  
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30 years in this business, all I ever hear is that Dems are gonna take my money (and guns), yet we always get the phat contracts when Dems are in the White House. They nominate liberal, labor friendly NMB members that get assigned to our contract negotiations. Record breaking Contract 2000 is the best example. Signed under President Clinton. Contract 2012 and Extension 2016, both during Obama’s run are other examples. Of course we didn’t get one under Trump. Just a concessionary LOA and an all time high record annual deficit in 2020. He made Obama look downright thrifty in his handling of the financial crisis. Smokin Joe did not disappoint. He has nominated a Teamster lawyer to the NMB…. Lol. So get ready for our next contract.

And let’s talk about the stock market runs during Mr. Clinton and Obama’s terms. Wow. These gentlemen own the #1 and #2 best stock market percentage gains of modern times. Cha freakin’ Ching, baby!! And I still have my guns!! Lol. For the life of me, I can’t figure out why anyone would vote for more “lost decade” Rep presidents. It’s been my experience that my money grows best during Dem president’s terms. Both in contractual gains and B-fund earnings. Oh look, the S&P is up 20% year to date during Joe’s disastrous first year. Saddle up… 3 more years to go. Ridin with Biden. 😎

c
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Old 09-14-2021, 07:02 PM
  #28  
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Originally Posted by guppie View Post
30 years in this business, all I ever hear is that Dems are gonna take my money (and guns),
Well, according to that proposed legislation, that would be a correct statement if passed.
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Old 09-14-2021, 08:08 PM
  #29  
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I do all my 401k contributions after tax (roth)

Would this effect me? I'm obviously not doing any backdoor conversions
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Old 09-15-2021, 04:36 AM
  #30  
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Originally Posted by Aero1900 View Post
I do all my 401k contributions after tax (roth)

Would this effect me? I'm obviously not doing any backdoor conversions
Not from what I see. Roth 401(k) contributions will still be allowed. It’s after-tax that will be impacted.
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