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Nyc Deferred Comp Loan Application Form

Nyc Deferred Comp Loan Application Form

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Instructions and help about nycdcp forms

there's a lot of frs special risk participants that must love paying more than their fair share in taxes they love paying taxes so much that they're willing to pay income tax twice on the same dollars in their deferred comp plan the problem is most of these people have no idea that they're doing this the storm is coming but i'm prepared i'll be gone for a while but don't be scared so here's the deal and why you're paying income taxes twice when you take a loan against your deferred comp plan to begin with it's important understand that unless your deferred comp plan is a roth deferred comp then all the dollars that are in there are considered to be pre-tax dollars that means it was funded through your paycheck before you incurred any taxes now when you take a loan against the plan you receive the money tax-free there's no withholding for taxes nor does the loan become income and forcing you to claim it on your tax return all good so far right but when you take that loan you're require

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