H1B Visa 401(k) benefit Hi
I have been working the past two years on a H1B visa and am a resident for tax purposes. I live in New York. My total gross income is about $210k. Next year, I plan to move back to Europe after working just one or two months.
My question is: does it make sense to start a 401(k) plan this year and invest say $10k in order to get the tax benefits? Next year, I would plan to withdraw it and pay the penalty and taxes. Will I still gain by doing this? What is the optimal amount to invest to get the best tax benefit? Next year, I will be a non resident.
Many thanks. |