41–50 of 301 posts
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A 401(k) match _is_ free money though. When you leave the company, you can just cash out the account - the penalty will still probably be less than the match gave you, so you come out ahead. Of course, it's best to just let it sit in retirement accounts until you can take a qualified distribution.
You can even get fancy and roll it over into an IRA and, if you have excess cash, convert it to a Roth IRA.
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Im in the same boat - would you mind explaining to us every other Friday folk why the employer match isn’t free money?
Employer match is "free money" (there's no "gotcha" other than vesting schedules) and 401k is a part of the American tax code whereas this is an article about Canadian payroll.
I presume they are complaining about the fact that employers actually budget their match it as part of total compensation or whatever. So it's "really just a part of your salary." Or perhaps they are just mad they have to put the match into the 401k and can't opt to redirect that part of their salary to a non-tax advantaged account. Who knows?
In France, these rules are available as a website, an API, a NPM package, and raw rules in the https://publi.codes language. https://mon-entreprise.urssaf.fr/développeur
thats pretty cool, I wonder though what the implication is if there is a bug or package hijacking? Are you expected to cross check the calculations and they are only offered as a convenience, and not authoritative?
> There is currently no legal guarantee of any kind about the correctness of the code produced by the Mlang compiler, or by the results produced by the interpreter of Mlang. However, authors have been in contact with DGFiP to validate Mlang, and the system passes all the private DGFiP tests as of Sept. 2022 for the version of the source files responsible for computing the tax on the 2018, 2019, 2020 and 2021 income.
Earlier quoted context omitted.
And if the crazy proposal from the UCP in Alberta to divorce from the CPP and have their own pension system (like Quebec) is successful, it will get even crazier. Imagine the complications of moving back and forth between provinces. Or seasonal work, etc.
There's several pages of formulas for dealing with people moving between CPP and QPP. So glad I don't have to deal with those.
Props to the author. At this point, CRA should just post a reference implementation of all the formulas, so that small businesses can benefit from it.
Props to the author. At this point, CRA should just post a reference implementation of all the formulas, so that small businesses can benefit from it.
Heck, it would be very nice if they would create a libreoffice spreadsheet, even if they don't publish it. If they had to read their own document, it would probably be far better written.
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Can you provide an example of the US corporate tax code contradicting itself? Ambiguity is one thing, but I've never heard anybody claim that there's an actual formal contradiction in the tax code itself.
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Considering spending 5 minutes on Wikipedia looking up those terms would give a pretty good understanding, your coworkers only do not know because the do not want to know.
Are there any countries with good, reasonable tax systems? I'm only familiar with Canada and the USA, both of which are a bit of a mess, though seemingly in different ways. I'd be very interested in hearing what the process is like in other places.
At the end of the year, there is nothing to report and nothing to pay.
It doesn't get much simpler than this.