401ks & IRAs

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How do I Transfer 457 Funds to an IRA?

A 457 plan is a retirement plan for government and nonprofit employees that is much like a 401(k). Until 2001, the Internal Revenue Service did not allow you to transfer assets from your governmental 457 plan to anything other than another governmental 457. The Economic Growth ...

The 60-Day Grace Period for Withdrawals From Retirement Accounts

If you withdraw money from your retirement account but later decide you don't need the distribution, you might be able to put it back in your retirement account if you act fast enough through a rollover. The Internal Revenue Service calls the process of taking money out of a ...

How Much Tax Do You Pay on a Cashed Out 403(b)?

A 403(b) is a qualified group retirement plan that's similar to a 401(k) but offered by nonprofit organizations like churches and schools. If you work for this type of organization and participate in the plan, understanding the consequences of cashing out your account can help ...

How Is Taxable Value Determined in a Home Assessment?

Property taxes are figured based on your home's taxable value, rather than just the actual fair market value of the home. Knowing how the taxable value of your home is figured for property tax purposes helps you at the very least understand how your property tax bill is figured. ...

Can I Close an IRA Account Without Penalty?

A tax-advantaged individual retirement account is a great place to set aside a portion of your retirement savings. Unlike some types of retirement plans, all of the money in your IRA always belongs to you and you can withdraw it at any time, for any reason, although you might ...

IRA vs. Savings Account

Individual retirement accounts are an umbrella account in which you can invest your money in a variety of ways, including putting your IRA money into a savings account. Though IRAs are designed to offer advantages over regular savings accounts if you're saving for retirement, ...

Can You Use Your 401(k) Funds for Purchasing a Second Home Without Tax Penalties?

To discourage you from raiding your retirement plans early, the Internal Revenue Service tacks on a 10 percent tax penalty to nonqualified withdrawals from your 401(k) plan. Depending on your age and your circumstances, you might be able to use your 401(k) plan for a second home ...

How Are Capital Gains and Losses in a 401(k) or Rollover IRA Treated?

Qualified retirement accounts, such as individual retirement arrangements and 401(k)s, offer tax-sheltered savings, which means the Internal Revenue Service has to keep its paws off the capital gains in your accounts until you take distributions. Whether the money sits in a ...

How to Find Money in an Old 401(k) Account

If you have lost track of an old 401(k) account, the funds could still be sitting there waiting for you to claim them. You may have moved and forgotten to give your new address to your former employer. Companies also go through reorganizations or mergers and may lose your ...

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