Retirement Contribution from FAA to retirement account outside of TSP

Question:
Are your HSA deposits pre-tax?

If so, then can your HSA be used for family in the future? Let's say for a future child (not born yet)
 
You're talking about two different things that could both be known as "deductions." First there are deductions from your paycheck, like your 401k contribution and your withheld taxes and your insurance premium. You can set up your own deductions in Employee Express. They're called "allotments" in that system. I have a deduction/allotment going to my Roth IRA, and another one going to a separate savings account.

Then there are deductions from your income that you use to reduce how much income you pay taxes on. The "standard deduction" is one example. Contributions to a traditional 401k are deducted from your income, as are contributions to a traditional IRA if you're eligible. If you lost money in the stock market you can deduct that amount. That sort of thing.

It so happens that the FAA knows trad 401k contributions are deductible from your income, so they go ahead and reduce your per-paycheck taxable income by that amount and withhold taxes based on the lower amount. That's nice. They don't have to though—if they didn't do that, you could take your 1040 at the end of the year and put down how much you contributed, then deduct that amount from your gross income.

I don't believe there is a way in Employee Express to set a user-defined financial allotment as pre-tax, that is to say, to tell the FAA to ignore that amount when withholding taxes. I could be wrong. I would recommend calling HR and asking. But it doesn't matter at all. If at the end of the year you're eligible to deduct the amount from your gross income, go ahead and do that (you'll get the withheld taxes back as a refund). If at the end of the year you aren't eligible to deduct the amount, no harm no foul, taxes were already withheld.

I feel like I'm taking crazy pills here...
All I’m saying is he can’t max tax advantages contributions to a Traditional IRA since he has a TSP. He can only make post tax contributions so his question regarding pre tax contributions isn’t valid. He can just set up contributions from his checking account to his IRA
 
Question:
Are your HSA deposits pre-tax?

If so, then can your HSA be used for family in the future? Let's say for a future child (not born yet)
Yes, an HSA is "triply tax advantaged" because you don't pay taxes on contributions, you don't pay taxes on gains, and if you use it for qualified expenses you don't pay taxes on withdrawals.

You can contribute out-of-pocket to the HSA and then claim the deduction at tax time along with all your other deductions. But it's best to contribute via payroll because if you do that you don't have to pay FICA taxes either. AFAIK there's no way to re-claim FICA taxes if you contribute outside of payroll.

The HSA can be used for any eligible expense incurred after the account was opened, so yes, it can be used for expenses related to a child you didn't have at the time you made the contribution.

All I’m saying is he can’t max tax advantages contributions to a Traditional IRA since he has a TSP.
They could take advantage of the tax benefits of a traditional IRA, if they have less than $65k (full deduction) to $75k (partial deduction) in adjusted income, if single. Or if they have less than $104k (full deduction) to $124k (partial deduction) in adjusted income, if married. You're correct that it isn't a sure thing.

Buy physical gold and you cant go wrong. Especially w the fed spending trillions in fake money.
Please enlighten us, O great and wondrous sage...
 
Please enlighten us, O great and wondrous sage...

my comment speaks for itself. I don't need to make each post 4 paragraphs of condescending bullshit like you. Lighten the fuck up and stop assuming everyone you post to is an idiot u need to preach to Termine . There are a shitload of smart people in this career field and on this forum.
 
my comment speaks for itself. I don't need to make each post 4 paragraphs of condescending bullshit like you. Lighten the fuck up and stop assuming everyone you post to is an idiot u need to preach to Termine . There are a shitload of smart people in this career field and on this forum.
why physical gold oh wise pushingtin? The conservatives with guns will rule the US anyway if society breaks down!
 
why physical gold oh wise pushingtin? The conservatives with guns will rule the US anyway if society breaks down!

Physical Gold is traditionally a haven in inflationary times. I think inflation is inevitable w the Fed buying junk Bonds and juicing the markets with trillions in stimulus. Gold would be unquestionably a better investment than savings accounts, CDs, etc. interest rates are nill and maybe going to end up negstive soon
 
Physical Gold is traditionally a haven in inflationary times. I think inflation is inevitable w the Fed buying junk Bonds and juicing the markets with trillions in stimulus. Gold would be unquestionably a better investment than savings accounts, CDs, etc. interest rates are nill and maybe going to end up negstive soon
Gold is just as made up as a source of wealth as paper. Who decided gold was valuable?
 
Physical Gold is traditionally a haven in inflationary times. I think inflation is inevitable w the Fed buying junk Bonds and juicing the markets with trillions in stimulus. Gold would be unquestionably a better investment than savings accounts, CDs, etc. interest rates are nill and maybe going to end up negstive soon
You realize that over the long term PHYSICAL gold is worthless as an investment because there are probably massive hoards of gold that foreign countries are hiding that aren't available on the market? Also even if you buy PHYSICAL gold and the economy and US government collapses, there is greater chance of us being invaded by China/Russia than gold actually being useful as an asset because by then millions of people will be dead and we'll be able to loot houses and whatever gold/jewelry they have. The only real argument of "assets" that will keep value in a scenario where there is no rule of law are guns, canned food, cigarettes and bullets and whatever won't spoil for decades.

Short term gold is fine but whoever puts 100% of their portfolio in gold in any timeframe is a moron.

If you expect to buy gold expecting returns you might as well buy stocks because they move with inflation as well.


Traditionally yes gold is a hedge but buying PHYSICAL gold is stupid because it causes risk of being stolen and then you're fucked.
 
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