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Help Calculating Retirement Fund Payments & Withdrawals Under Taxable Income

Nov 14, 2014 | Individual Income Tax Returns, Taxable Income

Retired Couple Sitting On Sailboat

Retirement plan distributions are generally taxable unless they are from a designated Roth or Roth IRA account. Early withdrawals of funds from a retirement plan are subject to tax, and you may also be hit with a 10 percent additional tax penalty; however there are some exceptions to the rule.

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For further questions about Phoenix personal income tax accounting, please contact Singer Tax & Accounting, PC today at (602) 482-8006.

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