Difference between revisions of "Annual Taxes - Humor In The Drudgery"

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Latest revision as of 09:01, 15 May 2026


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4) You about to retire? Any amounts withdrawn from a retirement plan before your 59 1/2 are controlled by early withdrawal penalties plus it'll be treated as regular taxable income. No early withdrawals!

If the $30,000 1 yr person would not contribute to his IRA, he'd wind up with $850 more associated with pocket than if he contributed. But, having contributed, he's got $1,000 more in his IRA and $150, instead of $850, in his pocket. So he's got $300 ($150+$1000 less $850) more to his term for having passed on.

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