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Old 03-11-2009, 10:39 AM
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Join Date: Mar 2009
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Tax on Performance Bonus

Hi, I have deferred 80% of my performance bonus towards 401K contributions and I have adjust my monthly contribution such that monthly contribution + performance pay rounds off to the max limit that the govt has set.

When I received my performance pay statement, I noticed that my company had taxed me for it while my impression was that 401K contributions within the max limit are not taxed. Please tell me if I have got this all wrong.

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