Does anyone know something about it? Any references, or advice?
How do taxes work when Canadians who may have worked in the US withdraw money from their 401k or ROTH IRAs at retirement? Someone told me that a 401k can be withdrawn (and taxed in the US), but when the money is taken to Canada it will not be additionally taxed. However, the ROTH IRA would be taxed as new income in Canada. Is this true? If so, this defeats the whole purpose of the tax free growth provided by the ROTH IRA.
I am currently working in the US but am a Canadian Citizen and hence dont really know where i will be come retirement (40 years away) so I am not sure as to where I should invest. I am trying to collect details so I can make an informed decision.
Thanks
Mathew, I know how the taxes work if you remain in the US. I need to find how they work if you plan to take the money to Canada. Of course I dont know how things will work in 40 years, but how do they work now?
I have contributed the $4000 annual limit to my traditional IRA, and I just remembered that I also rolled over about $1500 from my last employers 401k plan. Will I be penalized for going over the annual limit?
Which investing programs should be avoided? What do people think about Sharebuilder?
I have a fulltime job, and also am an independent contractor. I usually contribute 4k annual to my traditional IRA to get the tax write-off. I heard there are some limitations if you make more than a 100k annual.
For the past 4 years I was self-employed and contributed $5000 annually to a traditional IRA (before-tax). Now I work at a company that has a 401(k) plan and matches 3% (vested over 5 years). So my questions are, can I contribute to BOTH? And what are the limits? My w-2 will have the “ret” box checked on it, so I might get hit with an over-contribution if I contribute too much. But right now I am looking to save for retirement and this is a good year for me to stick as much away as possible.
Does anyone know a way to bypass the 401k rules and pull out my money. My wife is having a baby, and we could afford for her to be a stay at home mom if I could just pay off my truck so I want to take the money out and give us a easier start. How comments or other ideas?
My employer only allows 17% contrubition to 401K and they do not match anything right now (0%) so I will not reach the $15K limit. Anyway to help me get the max tax deferral of $15K?
Judge To Hecker: Pay Back 401K Or Go To Jail
A judge said he would throw Denny Hecker in jail for 90 days unless he can pay back $125,000 he liquidated from a 401(k) account held by him and his now ex-wife.
Read more on WCCO Minneapolis – St. Paul
I recently switched companies & I am cashing out my 401k. Its done, so I don’t want to hear about it being a bad decision. I am just curoius how long to expect to wait for the check. Can it be direct depoited? Would that speed it up? Does anyone have experience with this?
Roth ira, roth ira rules,what is roth,retirement plan roth ira 2010,roth ira qualification,what does a roth ira do,ira for minors,simple roth ira calculator