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How much earning is good in singapore ?
I got a offer from a company for $2000 Singapore doller per month with accommodation in 4 star hotel with meal provided by the company. I am curently living in india. I am wondering how is the offer ...
If you were a young man, making around $65.000 a year, would you choose Roth or Traditional IRA?
What should I choose, considering that I’m 28 and my salary is around $65.000? Are the tax rates going to increase over time, as they say?...
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Have you been looking for financing options for your new home purchase, construction, refinance, debt consolidation, personal or business purpose? Welcome to the future! Financing made easy with ...
do 401k count as income for foodstamp benefits?
Reason for Reporting
Life after 45
Food-stamps? 401K? How can you have both?
No, because that's not accessable money unless you're retired. If you're drawing off it from retirement, it counts as income.
If you are receiving distributions or a loan from a 401K, then it does count as income, and you have to pay taxes on it, too.
If you have a 401k that is generating income through investments, then does not count as the money is kept in the 401k account. Income and income tax are deferred.
Good luck in qualifying for your benefits.
As mentioned previously, income and taxes are deferred until you are 59.5 or if you take the 10% penalty and take an early distribution.
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Thursday, April 24, 2014