Those who retired or lost their job in the year they turned 55 or later have yet another way to pull money from their employer-sponsored plan. Under a provision known as “separation from service,” you can take an early distribution without worrying about a penalty. However, as with other...
You can begin taking qualified distributions from any 401(k), old or new, after age 59½. That is, you can start taking some money out without paying the 10% tax penalty for early withdrawal.6 If you’re retiring, it might be the right time to start drawing on your savings for inc...
Even though themarriage penalty tax has been abolishedfor two singles whoindividually earn up to $243,725 in AGI, the SALT cap limit of $10,000 is a marriage penalty tax. If you have two unmarried taxpayers both paying $10,000 in SALT, they will get an aggregate $20,000 when they fi...
But — and you can call me neurotic or superstitious or anything else you like — I also have a sneaking suspicion that things mostly work out only because we plan for what we’ll do if they don’t. Like last week when I was stuck in air travel hell. I irrationally yet sincerely bel...