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How do I figure out how much of my social security will I
How do I figure out how much of my social security will I pay taxes on … read more
Rick
Rick
MBA
10,487 satisfied customers
I turned 65 in June. Started gettiing social security a
Hello, I turned 65 in June. Started gettiing social security a couple months ago. If I take my money out of an traditional IRA today Can I claim it on my 2020 tax filing before … read more
Rick
Rick
MBA
10,487 satisfied customers
I have a STRS Cash Benefit NOT a Defined pension....what
hi I have a STRS Cash Benefit NOT a Defined pension....what will happen if I roll it over into an IRA? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,530 satisfied customers
I am 65 years old and on Social Security but I also have a
Hi. I am 65 years old and on Social Security but I also have a pension at Edward Jones. My question is what is the tax liability for a lump sum distribution of the pension money of $63,000. I want to … read more
Bill
Bill
Master's Degree
3,255 satisfied customers
I have a question about taking a distribution from a mutual
I have a question about taking a distribution from a mutual fund account and an IRA distribution in the same year. If my taxable income is under $40,000 (married filing separate) is the IRA added to m… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
6,400 satisfied customers
It have a roth ira at my bank. I took out a large some and
It have a roth ira at my bank. I took out a large some and transferred it to my checking account. They took out the 10 percent penalty fee already. Is there going to be any other fees or taxes i have … read more
NelsonProTax
NelsonProTax
Remote Tax Support Expert
Master's Degree
2,532 satisfied customers
L draw Social Security Widows Benfits, about 12.000 a mo., l
l draw Social Security Widows Benfits, about 12.000 a mo. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,073 satisfied customers
I am 65 and my wife is 62. I draw @16,000 from veterans
I am 65 and my wife is 62. I draw @16,000 from veterans disabilty and SS.. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,073 satisfied customers
Regarding investments, can you contribute to both a company
Regarding investments, can you contribute to both a company sponsored 401k plan and a individual traditional IRA and receive tax benefits? Or is it one or the other? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
20,763 satisfied customers
I retired the end oh March. I had wanted my employer to put
I retired the end oh March. I had wanted my employer to put my vacation pay 19,000 into my 457. They did not instead cashed it out. They said I can now put it in the 457. If I do this I will be paying… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
9,530 satisfied customers
I am in the process of receiving a large amount of money
I am in the process of receiving a large amount of money from a bank that had made a big mistake back in 2011. I had to pay $63,000 to the IRS because of this mistake. It took me all this time to sett… read more
Barbara
Barbara
Enrolled Agent, Paralegal
20,610 satisfied customers
I lived and worked in Houston, Texas from 2006 to 2011. I
Hi, I lived and worked in Houston, Texas from 2006 to 2011. I was working in an accounting firm. I have an option to receive lump sum payment of my defined benefit plan around US$19,000. Currently I a… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,563 satisfied customers
My partner is 67, I am 64. We are taking money from our IRA
My partner is 67, I am 64. We are taking money from our IRA to purchase a house (not first time buyers). We are both retired. I bring in, in SSI about $1,900 a month, my partner brings in about $1700 … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
I have a $32,000.00 IRA WHICH I MAKE A $940.00 RENT PAYMENT
HII have a $32,000.00 IRA WHICH I MAKE A $940.00 RENT PAYMENT FROM EACH MONTH. How much do I need to takeout for tax so I don't get caught paying in at the end of the yearthank***@******.***… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
23,416 satisfied customers
Im over 65, I took out $10,000 from my traditional IRA, my
I'm over 65, I took out $10,000 from my traditional IRA, my social security income is $23,000/year. Which make a total of $33,000.00 This amount being less then $34,500.00 should put me, I believe<… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
41,073 satisfied customers
I have approximately $270,000 in an traditional IRA account
I have approximately $270,000 in an traditional IRA account and would like to know if I would be better off converting it to a Roth Ira? My only income now is Social Security, with my wife's SS is abo… read more
Merlo
Merlo
Accountant
9,783 satisfied customers
I earned 19,000 in Social Security. I took 67,000 from my IRA.
I earned 19,000 in Social Security. I took 67,000 from my IRA. Roughly how much will I pay in income taxes this year. i am a widow age 67… read more
Merlo
Merlo
Accountant
9,783 satisfied customers
I want to take IRA distributions in the amount of $33,000 to
I want to take IRA distributions in the amount of $33,000 to pay credit card debt. If I have 30% of it withheld for taxes and penalties, will that be enough to cover all federal and PA state income ta… read more
Merlo
Merlo
Accountant
9,783 satisfied customers
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