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Your taxes will most likely be higher than 30%

I don't know your Federal Tax bracket, so I'll assume the most common 28%.  Soyou've now paid the Feds 28%.  Then there is the matter of State & Local Incoem tax.  State tax averages around 6%, your state may have less or more.  If you live in a large city, then you may have an additional 1 to 1.5% tax. We'll assume you live in a nice town with no city or county incoem tax.
28% Federal + 6% State, now we add the 10% penalty
total 44%
So, of your $5,000 you'll have $2,800 if my math is correct.
 A pure profit sharing plan is just the employer contributing money to the employees,  the employees do not contribute.  A 401k with the profit sharing will allow the employees to save money from their paychecks on a pre-tax basis.  You can lower your taxable income by the amount you choose to save into the plan.
I would keep the money in the plan and only contribute a little until your debts are paid off, then each year that you get a raise, I would increase my contributions to the 401k by 1%.  Lets say you get a 4% raise, take 1% of that and contibute it to the 401k.  Your take home pay still goes up by more than 3%.  Remember that additional 1% you contribute will lower the overall taxes you pay.
Hope this helped.  If not, please follow up.

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