Somewhere in the world of small business we’ve come up with clever ideas to keep the IRS from getting all of the tax dollars due to them. I’m not sure why, but we think we can outsmart the highly trained and educated IRS auditor who makes his living investigating financial rabbit trails. You should know […]
Early Withdrawal From Retirement Penalty – What Are the Exceptions?
For the most part, any person who withdraws funds from his or her tax-deferred 401k or IRA account before reaching age 59 1/2 will end up paying 40% or more in income taxes and penalties. You may ask the financial institution to withhold taxes, and they will do so, but only up to a certain […]