| Recent Answers from Josh Elliott |
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2008-11-19 Cashing Out Variable Annuity: Hello Marsha, The 10% IRS penalty is only on the gains in the contract, and if you do not have any gains, then there is no tax penalty. As always with tax questions, please check with your CPA or tax...
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2008-09-10 Non-taxable annuity?: Hi Steve, Great question - something that has been suggested to the insurance companies, but the answer is No, it does not exist. You could (or in conjunction with an advisor), however, build something...
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2008-05-23 thrift saving: The minimum age to take your money without an IRS penality is 59 1/2. However, the IRS also allows something called a 72t distribution before age 59 1/2, which allows you to take periodic distributions...
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2008-05-21 401K: There is typically no restriction on how long you can keep your 401k unless your employer or the company that handles the plan has such restrictions. The IRS requires you take distributions from any qualified...
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2008-02-23 annuties: Hello Mr. Horney, Not exactly sure what your question is. John Hancock sells both life insurance and annuities, so did you switch from life insurance to an annuity recently? If so, when, why and which...
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