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August 29, 2009

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trishmc

Answer to the 401K question - if you increase your contribution your tax will go down. But since your taxable income goes down your withholding also goes down and you won't see a change in refund/balance due from just increasing contribution.

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    A reader should seek advice from an independent tax adviser with respect to the information on this blog based on the reader’s particular circumstances. This advice is intended to be general information and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS regarding the transaction or matters discussed here.
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