Recent content by BaseballFan4Ever

  1. B

    In calculating my net worth do I use my appraisal on my home or what I paid for it?

    I just got an appraisal last week and it is $15K higher than what I paid for it. What number should I use to calculate this asset?
  2. B

    How do I recover from a failed 401K discrimination test from my employer?

    I recently learned from my Human Resources Department that my company sponsored 401K plan failed a discrimination test. I am classified as a HCE "Highly Compensation Executive" in the company; therefore after doing the math it looks like I will receive a refund check of over $5,000 in January...
  3. B

    What penalty will I have to pay for a 401K plan discrimination refund?

    Due to our company failing the 401k Discrimination test, I as a Highly Paid Executive will receive about a $5,500 refund in early 2011. - How will this affect my taxes? - Will the $5,500 be taxed as ordinary income? - Will I pay a penalty? - What should I do with the $$? Thanks
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