Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
I misunderstood how IRA works and contributed both to
I misunderstood how IRA works and contributed both to traditional and Roth IRA for 2018 and 2019. I maxed out the contributions both years. E.g. 2018 5500 to both Roth IRA and traditional IRA (12000) … read more
James Daloisio
James Daloisio
Attorney
Doctoral Degree
1,491 satisfied customers
I need to know how much to withhold for federal and state
Hi Pearl, I need to know how much to withhold for federal and state taxes for a simple IRA withdrawal in Maryland. Can you help me with that? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,127 satisfied customers
I want to withdraw from my traditional IRA $15 000.00, I'm
I want to withdraw from my traditional IRA $15 000.00, I'm 69 years old, my income is $19,386 annually on social security. What do I have to pay on federal and state tax at time of withdraw … read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
1,195 satisfied customers
I am doing a normal distribution withdrawal of a traditional
I am doing a normal distribution withdrawal of a traditional IRA into my bank account for approximately $60,000. I am > 59 1/2 years old. Do I have the Trust Company do a 10% federal tax with the w… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,818 satisfied customers
I have $30,000 in a traditional IRA... I contributed $22,000
Hi Barbara,I have $30,000 in a traditional IRA...I contributed $22,000 in 2007 to start it...I want to turn that into cash now, to help pay off an investment property.I know I would pay a 10% penalty … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,113 satisfied customers
I am being off this year and I will be 62 on 11/28/2019. If
I am being laid off this year and I will be 62 on 11/28/2019. If I withdrawal 60,000 from my ira on1/15/2020 and have zero income for year of 2020 then how much would my income taxes be for filing my … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,270 satisfied customers
I have a question about transfering my funds in my
I have a question about transfering my funds in my traditional IRA to a Roth, specifically the tax event that will occur… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
4,127 satisfied customers
I am thinking about retirement at the end of the year. I am
Good afternoon, I am thinking about retirement at the end of the year. I am not at retirement age as of yet. So, I will be retiring at age 55 (early retirement). I know there will 20% and an additiona… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,280 satisfied customers
I am 65 years old, still working FT and withdrawing 5K from
I am 65 years old, still working FT and withdrawing 5K from a traditional IRA account. How much tax will I have to pay? I am trying to bring down credit card debt with this withdrawal. … read more
Bill
Bill
Master's Degree
3,177 satisfied customers
I received a Beneficiary Claim Form from American Equity
I received a Beneficiary Claim Form from American Equity Investment Life Insurance Co. concerning my deceased Mother's policy (IRA). My question is this: should I have federal/state withholding and at… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,280 satisfied customers
I need to withdraw $60,000 from my IRA down payment on a new
I need to withdraw $60,000 from my IRA for a down payment on a new home. What is the best way to do this to minimize taxes… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,280 satisfied customers
my wife is dying with ALS and she has 12000 dollars in an IRA.
my wife is dying with ALS and she has 12000 dollars in an IRA. If I take it all out now which would total 17000 for this year would I pay capital Gains or any other penalties on all or any portion of … read more
Tax.appeal.168
Tax.appeal.168
Principal
7,280 satisfied customers
Considering a job change, but will require relocation out of
Considering a job change, but will require relocation out of area. No/Limited relocation expenses provided by potential employer. If I withdraw funds from an IRA account, what types of penalties and i… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
34,113 satisfied customers
For early withdrawal from an IRA account, before age 59.5,
For early withdrawal from an IRA account, before age 59.5, what are the penalties, are they 10% for the entire amount in the account if you withdraw some of the money, or is it 10% on any money that i… read more
Stephanie B.
Stephanie B.
Accountant
Master's Degree
556 satisfied customers
How do you calculate tax on a large IRA withdrawal Individuals
How do you calculate tax on a large IRA withdrawal? Individuals are over 60. Considering a $350,000 one time withdrawal. Would rate be top tax bracket and what is that? Asking federal only, assuming t… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,280 satisfied customers
I made $22,000 in after tax contributions to my 401K. I rolled
I made $22,000 in after tax contributions to my 401K. I rolled over the entire 401K, $185,000 to an IRA. I took out $10,000 from the IRA. Is there a way to avoid paying additional taxes on this money … read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
I inherited some money from 1) a Roth IRA 2) a traditional
I inherited some money from 1) a Roth IRA 2) a traditional IRA 3) a CD 4) an annuity. All of the above accounts were in my mother's name as the accountholder. I am listed in her will as being one of 2… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I was sent a notice by the State of Maryland inquiring why ...
I was sent a notice by the State of Maryland inquiring why I listed a Maryland address on my 2004 Federal return and why I did not file a state return for that year. In June, 2004 I made a withdrawal … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

5,118 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

298 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

18,818 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,665 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x