Completing your 72t early retirement distribution and documenting your IRS 72t exceptions correctly, will provide a stream of retirement income.
A 72(t) early distribution will not be subject to the 10% additional early withdrawal tax in the following circumstances…
Estimate what your IRA might produce for an income, using a 72(t) for early withdrawals to eliminate the IRS penalty.
Relevant questions to ask and learn everything you need to know about accessing your retirement income, 401(k), IRA’s including 72(t) without penalty.
Retirement accounts are 100% tax deferred until you start taking withdrawals. Remember, 100% of the dollars taken from your retirement account will be added to your adjusted gross income when filing your taxes.
There are 3 IRS standard methods on how 72(t) distributions are calculated: Amortization Method, Annuitization Method, & Required Minimum Distribution Method
When setting up a 72t distribution, the IRS life expectancy tables are: Uniform Life, Single Life, Joint Life & Last Survivor table.
There are several ways you can “bust” a 72(t) distribution, and the consequences can have a severe impact on your taxes if the account is not managed properly.
Our goal is to generate a return similar to the rate that you are withdrawing funds from the account each year, so that you finish the 72t period with about as much as you began with.
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Scottsdale, AZ 85260
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