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Financial Planning / Tax Strategies


Subject:  early withdrawls from I.R.A. Date:  2/1/2000  9:01 AM
Author:  spliter1 Number:  26582 of 127613

If I make early withdrawls from my i.r.a. before retirement age I realize I must pay the 10 percent penalty plus tax but would i then be charged with an aditional income tax on the amount taken out? how many taxes would be due on this early withdrawl? im thinking about early retirement and wondering how much uncle sam is going to eat up out of my withdrawls?? is there a way you can make withdrawls from your ira without all these taxes and penalties? im in my 40's and dont want to wait till 59 for the money..thanks!
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