Early Withdrawal from IRA

11 Exceptions to the 10% Penalty Tax on Early IRA Withdrawals

November 21st, 2023|Categories: Accountant, Accounting, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Early Withdrawal from IRA, IRA, Services, Tax, tax accountant, Tax Advisor, Tax Planning, The Burns Firm|Tags: 11 Exceptions to the 10% Penalty Tax on Early IRA Withdrawals, IRA, IRA Early Withdrawal, Penalty for Early Withdrawal from IRA, tax, tax advisor, Tax on early IRA withdrawal, The Burns Firm|

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before you’ve reached age 59½. For this [...]

Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty

February 7th, 2023|Categories: Accountant, Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, Early Withdrawal from IRA, IRA, Retirement, Retirement Plan, Services, Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0), Tax, Tax Preparation, Tax Return, The Burns Firm|Tags: Avoid penalty for early withdrawals, CPA, Early Withdrawal Requirements, Early Withdrawals from Retirement Plan, IRA, rules for early withdrawal, Simple IRA, tax, The Burns Firm|

Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s [...]