>>19327713 PB/LB

Anon, non-tax anon here, but experienced same:

1. Entire amount of withdrawal is counted as income. This will be added to any other income from employers etc.

2. If you are below retirement age, there is an additional 10% "penalty" that will be added to your tax liability.

3. Depending on the amount withdrawn, it may change your tax bracket.

Let's do an example:

Age: 35

Salary: $60,000.

Withdrawn amount from 401k: $40,000

As part of the withdrawal process many 401k's "helpfully" offer to withhold taxes.

So, the tax bracket would be determined by:

$60,000 + $40,000 = $100,000 in taxable income.

This means that the tax bracket would move upward from:

22% to 24%.

So, in this instance, anon would pay 24% on the 401k withdrawal plus another 10% since they're under retirement age equalling 34% on 401k withdrawal and a higher tax rate on all of their other income.

.34 * (401k) $40,000 = $13,600 just for the 401k withdrawal, plus

.24 * (salary) $60,000 = $14,400

So federal taxes would be $13,600+ $14,400 = $28,000 in taxes.

Anon can further explain if worthwhile.

>>19328179

Ok, at least the third post about a president that is remembered for being a completely incompetent scumbag. From the same ID.

Are… are you looking for sympathy? If so, why?

>>19328182

NOTABLE

Only because Jimmy is a scumbag and there's been rumors that this week would be an all-star showing.

>>19328128

Amazing how they never face justice isn't it? It's almost like they willingly and knowingly protect the most corrupt and evil people in society and get special treatment in return.

Whenever this person is caught, watch how gently and graciously they are treated. Cops know that the second the thin blue line cracks most of them are going to prison, along with their handlers the DA's and judges.

>>19328183

Looks to be only wealth tax and about bennies for the vets. Don't know how those two got on the same docket, but whatevs.

>>19328204

Now imagine the absolute MAGIC the moment you don't have to file anything. Government beyond the school district level shouldn't be telling folks where, or how, to educate their children. At the district level parents can directly engage and have useful modifications made to how their schools operate. This whole idea of trying to push everything further and further away from those affected needs to end.

>>19328213

… anon recognizes that critter from somewhere…

>>19328393

Thank you for clarification. Anon is a bit gun shy on seeing any form of "justice" any more.