DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Roll it Before You Pull it: Tips to avoid IRS penalties on 401(k) retirement plan distributions

401-k

While each retirement plan has similar early withdrawal penalty exemptions, they are not all alike. Knowing these subtle differences within 401(k) plans can help you avoid a 10 percent tax penalty if you take money out of the plan prior to reaching age 59 1/2. This is true because a basic rollover of funds into a Traditional IRA is a readily available option to avoid the penalty. You should consider rolling over your 401(k) into an IRA prior to early distribution when:

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Create a road map to retirement

Create a road map to retirement

Create a road map to retirement

Preparing for your retirement is a journey. And like most journeys, success or failure often hinges on decisions made early in the trip. Consider some of these pointers as you develop your personal road map to retirement.

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Your 401(k) and a job change

Your 401(k) and a job change

Your 401(k) and a job change

If you change jobs this year, don't forget about your 401(k) in your old employer's retirement plan. You may be tempted to...

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