Bob's not my name wrote:You can't deduct college expenses.
Ketawa wrote:You can only take one of the AOC, LLC, and the Tuition and Fees Deduction in a given year.
The Tuition and Fees Deduction expired 2013.Angelus359 wrote:Okay, you can't have the deduction and AOC at same time.
Here's a thread on backdoor Roths starting with deductible IRAs, but I don't think it has any relevance to expat Wisconsinites: viewtopic.php?f=10&t=86262BeaverFood wrote:Every explanation I see about backdoor Roths starts with nondeductible tIRAs.
2cents2 wrote:I'm assuming he is able to write off interest on the loans?
Bob's not my name wrote:Probably true but also irrelevant. The maximum deduction is $2,500, so the top $60,000 of his debt is not deductible regardless of his income.vachica wrote:I assume his income is over the student loan deduction threshold (75k AGI for singles).
Probably true but also irrelevant. The maximum deduction is $2,500, so the top $60,000 of his debt is not deductible regardless of his income.vachica wrote:I assume his income is over the student loan deduction threshold (75k AGI for singles).
Yes. See:terrycwu wrote: Could you go the other way around and go Roth -> Traditional?
Agreed. But it is definitely pre-taxed.an_asker wrote:Roth 401(k) is definitely not pre-tax.
In other posts grabiner has clarified that "expenses" means the differential vs. what you can get at Vanguard.grabiner wrote:My rule of thumb is that if the product of the expenses and the years you will be in the plan exceeds 30%, then a taxable stock investment may be better.
I disagree because you can build your own asset allocation and save about 0.1% on expenses:Laura wrote:Stick with the Target Retirement fund. No need to break out into individual holdings until you have an account of about $100k.
ERZ80 wrote:BlackRock US Debt Index NL Fund Class W .08%
Vanguard Institutional Index Institutional Plus Shares .02%
Vanguard Total International Stock Index Fund Institutional Class .13%
Vanguard Target Retirement 2055-.19%
tfb wrote:Rule of thumb is 30 divided by the number of years. The expense has to be 5% if you are out in 6 years.
Tecktser wrote:Currently in my tax situation my deductions are less than the standard deduction I get on my federal taxes.
The loan does not affect my ability to contribute to my 401K plan.
Wow, her 401k is outstanding. A 50% immediate return and a 0.10% ER! She is very lucky.crg11 wrote:Her TransAmerica 401k:
3% contribution, 1.5% match
Vanguard SmCap Idx VSISX 0.10%
her 401k with the lousy employer match and the high expense ratios