May 2017

401(k) Withdrawals: Beware the Penalty Tax

You’ve probably heard that if you withdraw taxable amounts from your 401(k) or 403(b) plan before age 59½, you may be socked with a 10% early distribution penalty tax on top of the federal income taxes you’ll be required to pay. But did you know that the Internal Revenue
Code contains quite a few exceptions that allow you to take penalty-free withdrawals before age
59½?

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Market Week: May 8th, 2017

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