Tax Memo – Early Withdrawals from Retirement Plans
Many people find it necessary to take out money early from their IRA or retirement plan. Doing so, however, can trigger an additional tax on top of income tax [...]
Tax Memo – 2017 Pension Plan / IRA / 401K Limitations
Highlights of changes for 2017 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017. The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), [...]
Tax Memo – Need Your IRA Money Early? You Can Avoid Penalties
Author’s Note: This memo discusses Substantially Equal Periodic Payments (SEPP) as a strategy to avoid early withdrawal penalties. There are other ways to avoid early withdrawal penalties. Please call [...]