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Q: When retiring at 66 and paying off the morage with a 401K would the 401k money be taxed as income?
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When retiring at 66 and paying off the morage with a 401K would the 401k money be taxed as income.?

I would say yes. You are taking a distribution of monies you never paid taxes on.


What are the Treasury functions?

paying money taxes morage and contracts


What is the money remaining after paying for necessities called?

deposite income


What income is based on not paying taxes?

Gross income is the money that you make if u didnt pay taxes


What is the difference between a consumer's disposable and discretionary income?

Disposable income is the money a consumer has left after paying taxes to use for necesities such as food housing, clothing, and transportation. Discretionary income is the money that remains after paying for taxes and necessities and is used for luxury items.


What is money left over after paying necessities?

discretionary income ka-ching!


What does annual income means?

Amount of money made in one year from all sources before paying taxes on it


When does a bank fall into bankruptcy?

When it has run out of money by paying it's staff, but not making enough income from it's users


What is the money left over after paying your necessary expenses called?

Discretionary Income Discretionary income = Gross income - taxes - all compelled payments (bills) Reference: http://en.wikipedia.org/wiki/Disposable_and_discretionary_income


Black money is a euphemism for?

Income earned illegally, usually in cash and not reported to the government so as to avoid paying taxes


What is the benefit of retiring from being a fashion designer?

they get money


Define paying taxes?

Paying taxes is best defined as: 1) Surrendering to the government a portion (percentage) of your income in order to support it. This money usually helps the government, actually, it always does.