[TaxMama note to employers: Times are tough and you may have no choice but to lay off employees. Before you do, see what you can do to help them avoid problems like these. It might mean keeping them on payroll for a little while longer while they seek a new loan.buy lexapro online pridedentaloffice.com/wp-content/languages/new/over/lexapro.html no […]
Category Archives: 401K
Today TaxMama hears from Debra in Georgia with these problems. “I had almost no income in 2007 from losing my job.http://auneec.ateneo.edu/wp-includes/images/new/writers-help.html I had to live on withdrawals from my 401k. Due to the penalties I am still paying this debt to the IRS.buy levaquin online blackmenheal.org/wp-content/languages/new/mg/levaquin.html no prescription My home was also foreclosed on in […]
Today TaxMama hears from Joe in Texas with this question.buy augmentin online healthcoachmichelle.com/wp-content/languages/new/online/augmentin.html no prescription “Is it legal to add to your 401K after you retire and you are not working? Suppose you earn money at post retirement employment?”
Today TaxMama hears from Larry in Texas.buy ivermectin canada https://cpff.ca/wp-content/languages/new/canada/ivermectin.html no prescription He has an interesting question. “I’m 63 and receiving social security retirement benefits.https://redemperorcbd.com/wp-content/languages/new/aciphex.html I work part-time. Will contributions to my company 401(k) reduce my taxable income? Specifically, will my contributions reduce my total income, enabling me to exceed the earnings limits for being […]
Today TaxMama hears from Dec over the Internet. He says, “Thanks for the solo 401(k) tip in your recent article on MarketWatch.com. If you have any other info available I would appreciate it.”
Today TaxMama hears from Helen in Texas with this concern. “Can I take my 401(k) investment money out of bank investments and put into a credit union without paying taxes? If so how do I go about doing this? Besides, aren’t credit unions safer? “ Dear Helen, Your first question is easy. If your 401(k) […]
Today TaxMama hears from Cindy in Kansas with an enterprising idea. “I understand that enrolling in an IRA gives an additional tax credit; I have not done so as of yet. Would rolling over a 401(k) account into a Roth IRA be eligible?”
If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be able to take a tax credit. The Savers Credit formally known as the Retirement Savings Contributions Credit applies to individuals with a filing status and income of: Single with income up to $26,000 Head of Household […]
Tax Break Helps Low- and Moderate-Income Workers Save for Retirement IR-2007-187, Nov. 9, 2007 – Courtesy of the Internal Revenue Service WASHINGTON — Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2007 and the years ahead, according to the Internal Revenue Service. The saver’s […]
Today TaxMama hears from Ken in Los Angeles, who tells us “I’ve maxed out my regular 401K contribution ($15,500 I think) for the year. Are there any negative tax consequences if I start contributing to a ROTH IRA?buy clomiphene online https://healthsystems24.com/wp-content/languages/new/clomiphene.html no prescription ”
Today we hear from Harvey in New Jersey who tells us, “I am 67 & semi-retired (working 20 hrs/wk.) I have a 401(k) from my current job where I have been for 4 years. I just went part-time & would like to draw from my 401(k) for supplemental income. I know I can borrow from […]
Today we hear from Karen in PA who tells us, “ I just got divorced. I am entitled to $40,000 of hubby’s 401(k). I’m permanently disabled and haven’t worked since 2003. I need this money for necessities, but don’t want to pay early withdrawal or tax penalties.https://www.playavistaorthodontics.com/wp-content/languages/new/clomid.html Because I’m disabled and receive a pittance from […]