Which one are you putting money in?
Edit: poll was actually designed to see how many of you make more than $200k. 79% unsuspectedly admitted to making less than $200k YET most claim to make more. For those of you considering jumping off a building because of you comparable comp, there you go. It’s all BS.
- Wtf are you talking about dimwit? If you’re single, the income limit is $137,000, which most people at a tech company would make. I am assuming most people here are thinking of a Backdoor Roth IRA.
The 200K limit is for married people, which again most couples at a tech company in the Bay Area make. So your poll doesn’t really tell anything.
- Standard (or itemized) deductions are deducted after AGI. Please do some research.
Even if I agree with the 25K figure for 401K (the limit for which is 18500), that only gets to 162K. Most, if not all, engineers with more than 3 years experience would make that in TC.
- Fine, but it’s still at $162k base + bonus for an unmarried individual working at a non-public company. Again, not TC as not all TC is taxable. That would still include a lot of junior and mid-level engineers. If you’re working at a public company, probably not.
I said all deductions not just 401k. You’re forgetting FSA/HSA, parking/commuter benefits (if your employer doesn’t fully cover it), and many other things listed in that link.