Is there any tax implication for using the 401(k) account?
Wed, 08/07/2013 17:34
I'll get retired by the end of this year. I'm currently living in a rental apartment in Winfield, Alabama. I wish to buy a house in Spanish Fort and shift there. I have saved money in 401(k) account. I want to use the money for purchasing the house. Can you please explain the 401(k) distributions? Is there any tax implication?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.