Although tax season is over, tax questions arise year round. My husband is an experienced accountant and will be answering questions sent to me at email@example.com with the subject line “Ask an Accountant”. See previous questions and answers HERE
I am considering taking an early withdrawal from the Rollover IRA account ($13k out). I recently had surgery and this is needed to clear bills, debt and get the budget back. I know I am looking at a 10% hit on the taxes next year for a penalty ($1,300), but what else am I looking at? How much else should I expect ?