After Age 70.5

Is there apenalty for not taking a withdrawl from a tax free account such as an IRA after reaching age 70.5?

Annuity Withdrawal

If an annuity withdrawal (from interest earned) when added to other income is less than amount requiring tax payment from 1040 form, is tax payment still due?

Early Retirement

by David
(Canal Winchester, OH)

I am considering early retirement at age 54. Can I withdraw from my IRA as much as I need to live on if I pay 10% penalties and regular taxes each year till I reach 59 1/2 ? Also do I have to pay tax on this money to local city and school since it isn't earned income?

Early Retirement Question

by Steve
(Marietta, GA)

I was recently let go by my company after 30 years of service and I will start collecting my pension (a monthly lifetime annuity). Since I am only 52 - is this monthly payment subject to the 10% tax penalty like a lump sum distribution would be - or is it just subject to ordinary income tax ? Thanks!

Optional Retirement Plan

Can I deduct my contributions to a TIAA-CREF optional retirement plan from my taxes?

Recent Retirees

Both my husband and I are retired, he receives social security and a pension, I just receive a pension. We have no taxes deducted from our pensions. Should we? Is this income taxable?

Retirement Minimum Distribution

by Gene
(Emporia, KS)

Currently, I am working half time and my employer is contributing to my retirement program. I am not withdrawing from the retirement fund. In the near future I plan to drop to 1/4 time with the same employer and the employer will cease to contribute to the fund. I will be 72 years old when the change to 1/4th time happens. Will I be required to withdraw the minimum distribution amount, or will I not be required to since I will be on the employer's payroll even though only 1/4th time?