ca state tax deduction from 401k contribution

Question

Sep 22, 2007, 11:58 AM

jkg409

New Member

Join Date: Sep 2007

Posts: 2

ca state tax deduction from 401k contribution

Hi,
I am new to 401k.
If I enroll in 401, does it reduce only
federal tax liability, or CA state tax liability as well.
how can i compute what tax I will save if I put 3000
in 401k. Any helpful sites/ calculators??
Regards,
JKG

Answers

Sep 22, 2007, 01:14 PM	#2

AtlantaTaxExpert Senior Tax Expert Join Date: Feb 2005 Location: Atlanta, Georgia Posts: 13,323	The 401K contribution reduces BOTH the federal and the CA income tax. How much you save will depend on your overall tax bracket. Comments on this post jkg409 agrees: answers the question accurately and completely

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