October 2012
Beginner
784 pages
45h 24m
English
Content preview from J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax ReturnBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
7.21 Annuities for Employees of Tax-Exempts and Schools (403(b) Plans)
If you are employed by a state or local government public school, or by a tax-exempt religious, charitable, scientific, or educational organization, or are on the civilian staff or faculty of the Uniformed Services University of the Health Sciences (Department of Defense), you may be able to arrange for the purchase of a nonforfeitable tax-sheltered annuity. Tax-sheltered annuities may also be purchased by self-employed ministers and by non-tax-exempt employers of ordained or licensed ministers or chaplains. Another name for a tax-sheltered annuity is a 403(b) plan. A 403(b) plan may invest funds for employees in mutual-fund shares as well as in annuity contracts.
The purchase of the annuity or mutual-fund shares is generally made through pre-tax salary-reduction contributions. Your plan may allow you to make after-tax contributions, and the employer may make non-elective contributions.
Caution: As the following contribution rules for tax-sheltered annuities have been stated in general terms, we suggest that you also consult your employer or the issuer of the contract. IRS Publication 571 has detailed examples.
Limit on tax-free contributions.
Tax-free salary reductions are limited to the annual ceiling for elective deferrals, and the plan may permit additional deferrals for participants who are age 50 or older (7.18).
If, in addition to a tax-sheltered annuity, you make salary deferrals to a 401(k) plan, SIMPLE ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.