Business & Finance

Guest Column

Timely Tax Tips: Avoiding the 10% Penalty in 5 Easy Steps

Walter Pardo is an active Master Elite IRA Ed Slott Advisor..

BASKING RIDGE, NJ- Do you want to access money from your retirement accounts but aren’t sure of the true costs involved?

As vehicles designed for saving for retirement, most retirement accounts have a set age requirement you must reach before making penalty-free income distributions. The age requirement is usually 59 1⁄2 but is sometimes as early as age 50. This means that, if you decide to access your accounts earlier, you could face penalties ranging from 10%–25%—and that’s not even considering the income taxes you will also owe!

To learn the essential rules and restrictions on accessing your retirement accounts before full retirement age, click here now.pdf

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Whether you need professional help rolling over retirement accounts to avoid costly mistakes or developing an income strategy to reduce unnecessary fees and taxes, contact our office at to schedule a time to discuss your needs. 

If we can help contact Walter Pardo, WFP Tax Partners at our office at (877) 714-2362 or to schedule a time to discuss your needs. 

The opinions expressed herein are the writer's alone, and do not reflect the opinions of or anyone who works for is not responsible for the accuracy of any of the information supplied by the writer. Click here to submit a Guest Column.

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