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Community: Investing Wiki

Term Of The Hour

IRA penalty deduction: Original post by Allison Westbrook of Demand Media An IRA is tax-sheltered savings account designed help your retirement nest egg grow throughout your working years. In order to reap the tax benefits of the account, you must wait until age 59 1/2 before taking distributions. Doing so before then could forfeit your tax benefits and provoke a tax penalty of 10 percent of your withdrawal amount.…

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