Used for qualified education expenses

Assignment Help Business Economics
Reference no: EM131110254

Some of the benefits of having a Roth IRA is, that you can withdrawal money for college from your Roth IRA if you have to. While you can withdrawal your investment to fund college education expenses, there are a few limitations that you must consider beforehand. You can withdrawal your contributions tax-free from a Roth IRA at anytime, but you must pay taxes on your earnings if you withdraw them before you reach 59 1/2 years-old and use the money to fund education expenses.

There is no 10% early withdrawal penalty if it is used for qualified education expenses. Qualified education expenses are tuition, fees, books, supplies, equipment, and room and board (in most cases), and you can use the funds for educational expenses for yourself, your spouse, your children or your grandchildren.

Reference no: EM131110254

Questions Cloud

Two semi infinite plates of glass : Nick has two semi-infinite plates of glass (refractive index 1.5) which are initially in contact along a common plane. A monochromatic s-polarized plane wave of wavelength 0.5pm is incident on the common plane at an angle of 60 degrees relative to th..
Briefly describe each of the following types of mergers : Briefly describe each of the following types of mergers: (a) Horizontal,(b) Vertical, (c) Congeneric, and (d) Conglomerate.
Retirement goals-propose recommendations on how to optimize : You have been hired as a Financial Advisor to review Charles and Susan’s retirement goals and propose recommendations on how to optimize their savings. Write recommendations based on the answers for 1-7 or propose a new plan on how the Smiths can rea..
Report to your boss that briefly describes the results : Write a report to your boss that briefly describes the results that you obtained. Make a recommendation on how this data might be used for marketing purposes.
Used for qualified education expenses : Some of the benefits of having a Roth IRA is, that you can withdrawal money for college from your Roth IRA if you have to. While you can withdrawal your investment to fund college education expenses, there are a few limitations that you must consider..
Briefly describe each of the following motives for merging : Briefly describe each of the following motives for merging: (a) Growth or diversification, (b) Synergy, (c) Fundraising, (d) Increased managerial skill or technology, (e) Tax considerations, (f) Increased ownership liquidity,and (g) Defense against t..
Certain amount of work free as a public service : Traditionally, lawyers are expected to offer a certain amount of work free as a public service, such work being described as pro bono publico (Latin: "for the public good"). Should the programming profession have a similar expectation of its member..
What is the total obligation under capital leases : What is the total rental expense reported for leasing activity for the year ended December 29, 2007, for Tasty Baking Company?
Define and differentiate among the members : Define and differentiate among the members of each of the following sets of terms: (a) Mergers, consolidations, and holding companies (b) Acquiring company and target company (c) Friendly merger and hostile merger; and (d) Strategic merger and financ..

Reviews

Write a Review

Business Economics Questions & Answers

  Elucidate in economic terms what is perplexing situation

As medicines which with brand names that the man recognise from television commercials sell for more than the unadvertised versions. elucidate in economic terms this perplexing situation to the father.

  What are the equilibrium quantity and price in this market

Suppose demand and supply are given by Qd = 100 - P and Qs = 2P + 25. What are the equilibrium quantity and price in this market? Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $ 40 is imp..

  Describe each country reaction function

Describe each country's reaction function. Does a Cournot equilibrium exist? If so, find the outputs and prices of crude oil in the two countries.

  Q1 suppose you want a lump sum payment of 100000 three

q1. suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current

  What happens to the optimal coinsurance rate

What happens to the optimal coinsurance rate β (insurance demand), if we vary policyholder's level of risk aversion? What happens to the optimal coinsurance rate β (insurance demand), if we vary policyholder's wealth w? What happens to the optimal co..

  In the household production model

Consider the decision of a household to have additional children. As a result of the substitution effect(s) of a wage increase, economic theory predicts that: In the household production model, the income effect associated with a wage decrease will:

  Describing labor demand in this economy as a function

Elucidate how can you derive an equation describing labor demand in this economy as a function of the real wage also capital stock.

  Qrecently one of the nations largest consumer electronics

q.recently one of the nations largest consumer electronics retailers began a nationwide television advertising campaign

  What should zelnick and conroy do

What should Zelnick and Conroy do. Should BMG integrate. Should they continue to work with a wide array of technology partners.

  Think digital strategy is suitable for a luxury industry

Provide TWO (2) reason why it is said wineries that are looking to make an impact in China must create a strong digital strategy." In your opinion, do you think digital strategy is suitable for a luxury industry like the wine market?

  Models oversimplify complex business relationships

Are the Internet business models B2C and B2B useful or do these models oversimplify complex business relationships?

  Customary pricing

Customary pricing is: a pricing method where the price the seller quotes includes all transportation costs. setting the same price for similar customers who buy the same product and quantities under the same conditions. deliberately selling a product..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd