 How much will this be with taxes? |
| this jacket it cost $24.99 nad the taxes is 9.75... |
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 I plan to invest money in LIC for short term duration,India? |
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 What is the HST (20 characters long)? |
I'm not sure on what this does exactly.
Anyone got some info?
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I know that walmart allows in store refunds up to 45 days without a receipt. But do I have to go to the same walmart I purchased it from?
All answers will be well appreciated :]... |
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 taxable income in retirement? |
I am 66, single, retired, and in receipt of the state pension and a small occupational pension.
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 How much would taxes take from 35,000? |
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 Do I need to pay for Canada customs if the shipping method I paid for is USPS Priority Mail International? |
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Di | I have a question about paying taxes on money collected from a PERS retirement plan? |
As a former state employee, I have $7000 in a PERS account. I have not worked for the state in 7 years. I was thinking of withdrawing the money since, at age 53, it looks like I will not be able to get back in with a state position. I know Social Security deducts money from your retirement check if you are drawing from PERS.
I could use the money but know most will go for taxes. Though not a large amount, I hate to just give it to the government.
Anyone here have experience with this sort of thing. How much will I loose in taxes. Better to leave it there until retirement age?
Any and all advice would be much appreciated.
Additional Details
You all gave me the answers I needed to hear. But I had to pick one for best answer even tho all your answers were wonderful and informative. Thank you all. |
 |
 
StephenWeinstein
 |
On average, approximately 1/2.
It is taxed at the same income tax rate as your other income. This means that the income tax will be whatever amount of income tax is normally paid by a person who makes $7000 more than the amount of your other income minus whatever amount of income tax is normally paid by a person who makes the same amount as the amount of your other income. It could be as little as $0 or as much as a few thousand dollars, depending on the amount of your other income.
In addition, there is a flat 10% penalty, which will be $700. |
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Ghost of Zeuz
|
My experience with Public Employee Retirement System pensions tells me you can't "withdraw" the money. You have to wait until you are "retired" (which might be age 55 or it might be age 50). Contact them directly to find out what your options are.
With respect to withdrawing retirement funds early, you get screwed. Period. |
|
tro
 |
I believe PERS is like most any other retirement plan in that if you take distribution prior to age 59 1/2 there will be a penalty on the distribution
the PERS plan is not included in the SS plan, it is the state's option to SS |
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ninasgramma
|
You will pay income tax plus a 10% penalty (unless an exception such as disability applies). If you are in the 15% tax bracket, this means 25% of your withdrawal goes to taxes.
You may roll your distribution over into an IRA if you do not want to leave it where it is. You will defer your taxes until you take money out of the IRA. No 10% penalty will be owed for the rollover.
If you wait until age 59.5 to withdraw the money, the 10% penalty will not apply. |
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Angela
|
I have $22,000 in PERS. I now have STRS. I was tinking of withdrawing my PERS to pay for credit card bills. Do I pull it and pay off bills or do I roll it over to my STRS??? |
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