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FU - Getting $200,000 out of your Retirement Accounts NOW
Manage episode 259806956 series 1607883
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The CARES Act and how it just gave you a couple hundred grand...maybe millions.
- Section 2022 allows you to take a Disbursement up to $100k out of your 401k, TSP, IRA, or any other qualified plan and either keep it (pay taxes over 3 years) or roll it over into a self directed plan like an eQRP® Boom!
- Section 2022 also allows you to borrow up to $100k from your 401k's, make no payments for a year and then pay it back over 5.
- Lastly the NOL, net operating losses in 2019 and 2020 can be applied backwards so you can get a tax refund from 2014-2018 with an amended return...more on that
Lastly, the opportunities are coming and will be some of the biggest of our lives in the next 2 years. Time to get ready is NOW.
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