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You Can Withdraw Your 401(k) or IRA Funds with No Tax Consequence

by Samuel N. Asare

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We have helped numerous clients withdraw funds from their “tax-qualified” plans like IRAs, 401(k)s, and 403(b)s with little or no income-tax consequences and re-position them into “non-qualified” options that are tax-free, going forward.

Just to be clear, this is not a discussion about tax loopholes. As you will discover shortly, our approaches are based on legitimate choices available within existing laws. Also, we are neither legal nor tax advisors. Our strategies and statements are simply based on a general understanding of current federal tax laws.

The Tax Problems Most Retirees Are Facing

So-called 401(k) experts lure unsuspecting investors with the completely bizarre notion that at retirement, their taxbrackets will somehow be lower. Retirees, however, discover that in real life, that simply is not the case. The reason is that by retirement, the majority of retirees have usually lost most of the valuable deductions and/or exemptions they used to enjoy during their pre-retirement years – pre-tax contributions into qualified plans, mortgage interest payments, and kids as dependent exemptions – all of which reduce their taxable incomes. They therefore reach the stunning realization that although their total incomes have been reduced – as predicted – they are still in the same (or have jumped to an even higher) tax bracket. Taxable income is completely different from total income, after all.

Additionally, income from these plans counts as portfolio income under the Tax Reform Act of 1986 and is therefore included in “provisional income” computations, which means up to 85 percent of their Social Security benefits are exposed to … guess what? Further taxation!

Then, there are those who suddenly realize that at age 70½, IRS rules mandate that they begin making minimum withdrawals from their IRAs and 401(k)s – or face a steep, 50 percent penalty in addition to the income taxes due.

At this point, most retirees begin to wonder whose retirement they were really planning, as they spent all those years contributing to their 401(k)s, 403(b)s, and traditional IRAs.

Our Simple, Common-Sense Solution

There is good news, though. We can teach you how to create legally permissible offsets within the confines of IRS regulations, right on your federal tax returns, that substantially reduce or eliminate the tax consequences of your qualified plan withdrawals. So, basically, when you withdraw, say, $10,000 from your traditional IRA, we create an allowable $10,000 deduction right on your federal Schedule A form. As you can see, your taxable income becomes a complete wash – nothing sinister happening here.

We have helped numerous people re-position their assets into alternatives they can access, income-tax free from that point forward. Come in for your complimentary consultation and let`s see what your options are. Call (877) 656-9111.


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This website is for informational purposes only. All opinions expressed are solely those of Laser Financial Group, LC., and our editorial staff. The information is not to be construed as any form of professional advice, nor as solicitation for the purchase or sale of any security, whatsoever. No particular outcome is guaranteed. No strategy can guarantee a profit, protect against loses, or ensure peace of mind. Recommendations are based solely on third party insurance products for which we receive compensation. Laser Financial Group, LC, does not provide investment advisory services. This does not constitute an offer to provide services in any jurisdiction in which such offer or solicitation would be unlawful under the laws of such jurisdiction. Any United States tax reference on this website is not intended to be used, and cannot be used for the purpose of avoiding penalties under the Internal Revenue Code, or promoting or recommending to another party anything addressed herein.

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