Can You Answer A Question About 401k Withdrawal?
I have an existing 401K loan, that at this time is now more than I can handle, is adjectives into me being able to make my mortgage and hold my head above water. Wife is unable to work and at the time of the loan be in the work force, do I make the call and ask for for some give a hand or can they wave the loan or payments?
Answer:
They will never waive the payments, but it is your $$. So what ever the balance on the loan that is still outstanding , will be considered a withdraw or income, your employer will hold 20% for taxes you can attain credit when you file 2009, and an addl 10% will taken from your remaining monies. Example: You still owe 2000.00 on your loan they will charge you 20% + an addl 10% $600.00 dollars. May be a state penalty depending on your state
Resolved Questions:
Can blind folks see the dreams?
Can Blind persons see the dreams? If a person is blind by birth then no he can't dream. He can solely feel them because they never experienced vision or sight so they hold never built the sight sense. This is possible that their other senses are properly developed...
What are the methods of shaping behavior?
My question wants explanation about methods of shaping behavior within organization behavior. Methods of Shaping Behavior: Extinction: According to operant conditioning, both good and bad behaviors are controlled by reinforced consequences. Identifying behavioral reinforces and removing them can cutback a behavior. An undesired behavior without...
My husband is cashing surrounded by his life span insurance policy and they want a...
Hello, you can avoid all penaltys by not cashing the check and just rolling it over to his 401k. Then he wont be taxed until he take it out of his 401k. You dont get taxed for rolling it...
Answer:
They will never waive the payments, but it is your $$. So what ever the balance on the loan that is still outstanding , will be considered a withdraw or income, your employer will hold 20% for taxes you can attain credit when you file 2009, and an addl 10% will taken from your remaining monies. Example: You still owe 2000.00 on your loan they will charge you 20% + an addl 10% $600.00 dollars. May be a state penalty depending on your state
Resolved Questions:
Can blind folks see the dreams?
Can Blind persons see the dreams? If a person is blind by birth then no he can't dream. He can solely feel them because they never experienced vision or sight so they hold never built the sight sense. This is possible that their other senses are properly developed...
What are the methods of shaping behavior?
My question wants explanation about methods of shaping behavior within organization behavior. Methods of Shaping Behavior: Extinction: According to operant conditioning, both good and bad behaviors are controlled by reinforced consequences. Identifying behavioral reinforces and removing them can cutback a behavior. An undesired behavior without...
My husband is cashing surrounded by his life span insurance policy and they want a...
Hello, you can avoid all penaltys by not cashing the check and just rolling it over to his 401k. Then he wont be taxed until he take it out of his 401k. You dont get taxed for rolling it...