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72T could work well for a federal employee to retire early and bridge the gap until your pension starts at MRA.

Two questions where answers change from CPA to CPA. (1) There are rumors of 529 contributions (basis) being available, however distributions ALWAYS arrive with both earnings and basis portion. Can excess be withdrawn to match the basis? I am assuming 529 contributions cannot be withdrawn penalty/tax free unless for college. (2) The financial community and IRS tell everyone to keep tax records for 10 years. So that means 5498 forms from 25 years ago are gone. If a person has record of contributions in old spreadsheets, but not a 5498… how does the IRS determine contributions as the money comes out?

How is SS taxed on a dependant? I will be collecting at 62 when my child is 11. So for 8 years my child will collect 50% of my FRA (she'll be in HS when she's 19) Question. Does my child basically submit a tax return at the age of 11 every April?

O J Simpson

At what point do you justify where you applied the money? Is it just filed on your tax return?

I will be 62 years of age and I have an 11-year-old child and 9 year old child will they get the benefits and do they need to pay those back I heard that I need a bank account for them can you explain a little bit what I need to do or who do I need to call to find out these questions thank you very much😊

Yes, you can use it for room & board

Thank you sir

Can my son eligible for stepchild benefits from my late husband? My husband is an ssa monthly retirement beneficiary. My husband passed away last year.

Is adding someone to my deed considered a gift tax?

So does this mean you can NOT have this type of annuity under an IRA?

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So, the first gift below that annual year exemption to a person does not require a Form 709 but future gifts to that same person below the annual exemption does? Are you sure?

where is your about page?!!?!?!Money in the bank when we know more about you!😊 Don't forget your credentials; invest in getting a quality mic and damper the echo; UA-cam has spoiled us; people will wander.

Do these same rules apply to a self-directed Solo Roth 401k? Meaning that I can bypass the penalty fee but my Roth 401k earnings would be subject to ordinary income taxes?

Is 401k in Maryland protected? I’m suing my husband for knowingly infected me with his herpes.

For the chart that goes by state that says whether a creditor can seize an ira and roth ira, does it have to do with the state the defendant lives in or where the court case took place? For example the defendant lives in one state and gets into a car accident in another state.

How would a person on SSI, Whom, is renewing their medicaid at the age of 57 Calculate their RMD ?

Excellent! Thank you very much

wrong information at ( 4:02) : this rule 72 t CAN be use for TSP account too which is called life expectancy withdrawal ( different name of 72 t )

What evidence does SSA need for proof of half of income support for parent dependents?

Do I have to file form 709 at the same time when I file the 1040?

Why not show how to fill out the form, line by line?

Very helpful thank you!!😊

Please include a video of filling out form 709

Can I ask how do you get the numbers for line 4?

You talked about IRA'a and 401k's. I have heard the SSI cant be taken by a creditor but what about a retirement pension paid to you on a monthly basis?

If I’ve given gifts to multiple Individuals do I need to fill out this form

Thank you for this video. I understand the retirement cost and taxes on an IRA withdrawal. Considering the extreme high cost of college that leaves many middle income families having to take out school loans (some cases Parent and Student loans). The manner in which school loans accrue interest should be downright illegal. I know many individuals who’ve paid student loans for years yet they have only put a small dent into their student loan principal. Withdrawing from an IRA and paying the taxes on it is a much better option than paying down student loans and interest for the time period needed.

If a person claims 50% of a spouse's SS benefit at full retirement for both, will the benefit increase to the larger amount when the claimant turns 70 years old?

What if the money is returned in the same tax year? For example help with a down payment on a new house that is repaid after the sale of an old house.

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Hello Carlin Financial Group - thank you for this video! I do have one comment - I believe that room and board IS allowable, as long as the student is enrolled more than half-time. If I am missing anything, though, please correct me! Thanks again for making this.

PЯӨMӨƧM

So If I give a gift for 50 dollars than it has to be claimed? Unreal

I just subscribed thanks!

JOE BIDEN's bill to tax social security!

Sigh....

Good presentation, thanks. Does the form 709 need to be filed in conjunction with the Federal Return, or can it be done separately, post Federal Filing, but prior April 15? Thanks

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My sister is 61 as of now she hurt her back what advice could you give her she has a second job too she can't work job one

American seniors are so greedy. Is Social Security just a big money grab? People on Federal welfare programs like SS, should be grateful, not greedy.

5:34 You can thank me later.

Can you file only ss tax only

Retirement is no joke. This video should be removed.

Wait until you ar 70 to begin collecting your Federal welfare benefit. This who take SS at 62 will regret it.

I don't know how people retire that early unless you have multiple millions saved up. Decent healthcare insurance alone would eat up most of the earnings on a million dollars in a 401K if you're doing a 3.5-4% draw down. I could see if you earn a high income and you started investing heavily from the time you were 21, then it might be doable. For the vast majority of people though the key is to get into a field that you actually enjoy so you're not trying to bail at 50 years old.

Retiring early is possible but tough, it definitely requires discipline and big sacrifices. It’s not only about saving, the huge step is boosting earning capacity. I’m glad I got into stocks and recently purchased my first NFT.

“Early retirement”. So many talk about it and say they done it but never mention anything about medical coverage. Do people even realize Obama Care is about selfish people who want to ride off the backs of people who continue to work and have their insurance premiums subsidized but yet must pay higher premiums for the lazy folks out there. The only folks who can early retire are those who worked for a governmental entity who’s insurance is covered. They often receive a pension also. Good for them. Some pensions are outrageous though and they are simply robbing the taxpayers.

I can “retire” at 50 and live on my cash until 59 and then take out all that retirement money without penalty?