QUESTION
I am in a position where I need to draw on my 401 K and I am working
Asked on Oct 07th, 2013 on Taxation - New Jersey
More details to this question:
I was recently diagnosed with stage 4 prostrate cancer which is not curable. Only can be treated to slow it down. I have been taking money from my 401 (I am 60) to build a house I can live in my final years. I am paying taxes on each withrawal. Is there a way or any way I can reduce my tax liability,
1 ANSWER
Criminal Defense Attorney serving Toms River, NJ
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Edward J. Dimon
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i would work closely with your accountant to maximize the tax opportunities away from your 401 [k]. the 401 [k] monies will be taxed because it is income. we work closely with a former IRS 'field agent'. i can introduce you to her. ed dimon, esq. 732-797-1600 ext 235
Answered on Oct 08th, 2013 at 11:22 AM