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I am retiring from my company of 27 years this month and
I am retiring from my company of 27 years this month and requesting full withdrawal of my 401K, 5 months prior to my 59 1/2 birthday. As an official resident of the state of PA, does PA require my emp… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
Will cashing out my 401k effect my UI in colorado? And how
Hi there, will cashing out my 401k effect my UI in colorado? And how much is taken if I cash out at the age of 59 1/2? … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
17,496 satisfied customers
My husband's company was sold and he is now working for the
My husband's company was sold and he is now working for the new company. It has been treated as a "separation from service" from the old company. With regard to his 401K, he is now able to take a with… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
3,742 satisfied customers
I am age 55 and want to retire at the end of 2017. I am
I am age 55 and want to retire at the end of 2017. I am considering taking a lump sum from my pension so will need to roll it over to an IRA. Will I be able to take a part time job and still withdraw … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,739 satisfied customers
My wife suffer a stroke back in January what if any taxes
My wife suffer a stroke back in January what if any taxes would she have to pay on an early with draw from her 401k… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
After 27 straight years of employment I am now without a job
After 27 straight years of employment I am now without a job going on 6 months. I need to cash in my 401k and IRA in order to pay bills. I'm 50 years old and I was in the 30% tax bracket. My wife has … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
I have a question about 401k deductions/withdrawal before 59
I have a question about 401k deductions/withdrawal before 59 1/2? Left job and vested 401k is still with old company.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
Regarding the above tax matter, below is what I was told by
Regarding the above tax matter, below is what I was told by another source. Would you be willing to critique his opinion with respect to content and correctness? "In some cases, such as for your emplo… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
my wife is 54 an i just cashed in one of her ira/401 because
my wife is 54 an i just cashed in one of her ira/401 because she had a stroke to pay the bills. she retired when i did in 2005 an haved lived off my SS… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
Im over 55 and was recently laid of from my employer. I understand
I'm over 55 and was recently laid of from my employer. I understand that I can withdraw my 401k without penalty because I was laid off after I turned 55. Is this true? Further, if my company rehires m… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
My question(s), is/are about Retirement rules and tax implications.
My question(s), is/are about Retirement rules and tax implications. for instance, I am 56 and have a 401k at my work. I want to retire and roll over to an IRA and take dispersal's beginning in March o… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
My wife and I withdrew some of our 401K to pay bills this past
My wife and I withdrew some of our 401K to pay bills this past year. Is there any stimulus law to help me offset the tax lianbility? I or my wife did not lose our jobs.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
I have a 401k plan that is with my FORMER employer. Total
I have a 401k plan that is with my FORMER employer. Total balance= 70K. $32,000 is in the ROTH (Aftertax) segment but the account has only been open since 1/1/2007 as a ROTH 401K. How can I get the mo… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
In Delaware, a withdrawl of less than $20,000 from a 401K for
In Delaware, a withdrawl of less than $20,000 from a 401K for higher education purposes is not taxed if you are over 59 1/2 or separated from the company. Would the rule apply since I retired after ag… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
I was on the verge of bankruptcy, rather then file I took
I was on the verge of bankruptcy, rather then file I took out $32,000 from my 401k plan from work to pay off all of my bills so I could breathe again. Is there anyway I can minimize paying taxes on th… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,197 satisfied customers
I asked before if my ira withdrawals were subject to Pa ...
I asked before if my ira withdrawals were subject to Pa income tax. I got an answer that said distributions from an ira are not taxabe if the payments are: received, including lump sum distributions, … read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
I will be 59 in 2 months and recently retired from my job.
I will be 59 in 2 months and recently retired from my job. If I elect to take installment payments from my 401K, which according to plan's guidelines must be at least 5 years by not more than 20 years… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
I have a 401 with ING. I was working for a University in ...
I have a 401 with ING. I was working for a University in which I had an optional retirement plan. I've resigned my position and will not be able to roll this over into my new state retirement plan wit… read more
GARY ELLIS
GARY ELLIS
Tax professional
Bachelor Degree
74 satisfied customers
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