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It is always wise to have a secure financial foundation. Here is a place to ask questions, exchange ideas and share information on how to make the most of your money.


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firefox104  
#1 Posted : Sunday, September 30, 2012 1:11:12 AM(UTC)
firefox104

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Hi. I am on track to max out my tsp contributions this year for the first time. Do we have five or six pay periods left for tax purposes for 2012? I was looking at some of the pay schedules and in the middle of December it says end 4th quarter and then new pp1 begins still in December. I need to adjust my contribution level so I hit the 17000 mark.
Knight  
#2 Posted : Sunday, September 30, 2012 3:20:56 AM(UTC)
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Plan for 5. If you over allocate then they only take what is left to reach $17,000 in the last paycheck.
GWPDA  
#3 Posted : Sunday, September 30, 2012 3:53:11 AM(UTC)
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firefox104  
#4 Posted : Sunday, September 30, 2012 11:15:41 AM(UTC)
firefox104

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Thank you both.

I never maxed out before and this has been a very hard goal to achieve; I didn't want to hit the max one credited pay period early and miss the match. I also didn't want to underfund the last payment and not hit my goal either. I know it seems simple by just subtracting our current pay period from 26, but I read that for tax purposes there are caveats.

Guess I will just figure for five and allocate for that.

Knight  
#5 Posted : Monday, October 01, 2012 3:52:04 AM(UTC)
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The TSP has a calculator that you put down what you have done so far and then how many more PPs and it will give you an amount.

Good luck.
Fed1969  
#6 Posted : Monday, October 01, 2012 11:03:58 PM(UTC)
Fed1969

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5 paydays for TSP purposes. Payday must be in 2012.
firefox104  
#7 Posted : Saturday, October 06, 2012 1:17:57 PM(UTC)
firefox104

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Ok. So I looked at all the links you all provided and it looks like there are six left with paydays dated in 2012. Fed1969, what am I missing? Is there some date at the end that has an eft in dec but actual payday in January? I asked our mission support person and she said "duh, we are in 20 so 6 left." Then I asked her about tax purposes and she drew a blank. I had some very bad things happen this year to my family and had to take lwop a few pps so my contributions got lowered. So, I have to adjust them at the end.
I do appreciate everyone who responded. Thanks again.
spence  
#8 Posted : Saturday, October 06, 2012 6:03:18 PM(UTC)
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I count 6 paydays left but one of them is for a pay period that is already over, so that may be where the different numbers are coming from.

firefox104  
#9 Posted : Sunday, October 07, 2012 9:48:28 AM(UTC)
firefox104

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That makes sense. Thanks spence!
FSUGuy  
#10 Posted : Sunday, October 07, 2012 11:06:41 AM(UTC)
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Congrats on hitting the max!

It's something we all should be aiming for, if our personal finances allowed us.


From November 2010 to February 2011: 120 applications, 4 interviews, 2 job offers. Selected dream job. EOD: April, 2011 Promoted: May 2012.
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