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-   -   Ca state tax deduction from 401k contribution (https://www.askmehelpdesk.com/showthread.php?t=132467)

  • Sep 22, 2007, 11:58 AM
    jkg409
    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
  • Sep 22, 2007, 01:14 PM
    AtlantaTaxExpert
    The 401K contribution reduces BOTH the federal and the CA income tax.

    How much you save will depend on your overall tax bracket.

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