TaxAudit Blog

Tag: 401(k)

401k Rollover written on a notebook

Can I roll my 401(k) twice in one year and into an IRA?

The good news is that you can roll your 401(k) twice in one year and into an IRA without penalty, provided you take a few simple precautions.

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IRA and 401k written on eggs with a money background

Using Retirement Funds to Buy a House | Can I and How?

When considering using retirement funds to help pay for a new home, there are generally two common options taxpayers can consider: A 401(k) plan or an IRA.

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Roth and Traditional IRS Plus and Minuses

Should I do a Roth Conversion?

It seems like a simple idea: convert that account to a Roth and you can withdraw the money tax-free in future years. But is it a good idea for you?

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Covid-19 401k Distribution

Coronavirus Financial Hardship Withdrawal from 401(k) Plans

Under the CARES Act, you can receive a “qualified coronavirus-related distribution” from your retirement plan and avoid the 10% penalty on early distributions.

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401k nest egg

How does taking a 401k loan affect taxes?

401k loans aren't reported on your federal tax return unless you default on them. Then it becomes a distribution and subject to the rules of early withdrawal.

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401k nest egg

Smart retirement moves to make before 2015

As the end of the year approaches, the holidays are probably more on your on your mind than saving on your taxes.

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