|
|
|
|
||||||||||
| Xoutpost server transfer and maintenance is occurring.... |
| Xoutpost is currently undergoing a planned server migration.... stay tuned for new developments.... sincerely, the management |
 |
|
|
LinkBack | Thread Tools | Display Modes |
|
#1
03-18-2008, 08:13 PM
|
||||
|
||||
|
cpa's
Now he gets gigged for income tax on the whole amount of the cashed in fund. Remember he payed tax on all the contributions he made at those times of investment. Can they charge income on moneys already paid again? And if this is hardship use, is there no way out of the tax? Thx ahead...
__________________
Mike F Current: 2017 Grand Cherokee HEMI 2017 Kawasaki ZX-14r 2017 Harley RG Ultra 2017 Harley Fatboy S 
|
| Sponsored Links | |
|
|
|
|
#3
03-18-2008, 09:09 PM
|
||||
|
||||
|
M,
While I'm not a huge fan of some of the info found on TheFool, this is one of the better written, understandable blips on the Roth Early Withdrawl bite: http://www.fool.com/money/allaboutir...boutiras07.htm There are exceptions, more than the 1st home situ, but I have no idea if the bro-n-law would qualify; "living expenses" are not one of them, however. And, since we don't know "how" he funded that Roth, he may beat some of the taxes, but he will not beat the penalty, imo. CPAs here can fill you better, but the Fool art. is pretty informative. GL,mD
|
|
#4
03-18-2008, 09:33 PM
|
||||
|
||||
 I forgot all abut the fool. Use to read it a couple of times a week.But yeah early withdrawal equals BIG pentalty's
__________________
"What you hear in a great jazz band is the sound of democracy. “The jazz band works best when participation is shaped by intelligent communication.” Harmony happens whenever different parts get to form a whole by means of congruity, concord, symetry, consistency, conformity, correspondence, agreement, accord, unity, consonance……. 
|
|
| Bookmarks |
|
|
|
|
Linear Mode
