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Submitted By: someone
Answered: December 3, 2017 9:14 pm
Answered: December 3, 2017 9:14 pm
I’m in my company’s 401(k) plan. Do the investments I choose have anything to do with the time I’ve been with the company?
Whether an employee is eligible to participate in a company’s 401(k) plan may depend on satisfying a period of service there. But once in the plan, an employee can make investments from the menu of options offered. Check with the plan administrator about how often you can change investments; you may be limited to doing this once a year or at some other interval.
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Tax Glossary
Itemized deductions
Items, such as interest, state and local income and sales taxes, charitable contributions, and medical deductions, claimed on Schedule A of Form 1040. Itemized deductions are subtracted from adjusted gross income to arrive at taxable income. The amount of itemized deductions is also subject to a reduction when adjusted gross income exceeds certain limits.
