InSearch Posted August 27, 2018 Report Share Posted August 27, 2018 India ki return velle plan undi... 401k lo too much money kadu but India vellaka edaina useful money ne kadaa... Udaaharana ki 2019 lo nenu assalu US ki pani cheyyakunda (India lo edo job chesukuntoo), 2019 lo 401k withdraw chesukunte nenu emaina penalty lu, tax lu kattala? meeku point artham ayindanukuntunna, manaki takkuva taxlu or penalty latho money kavali.. tondaramledu, meeru suggest chesthe inko 2 years aagi teesukunta but 65 years vachedaka aagalenu. Dayachesi information teliste cheyyandi Quote Link to comment Share on other sites More sharing options...
JANASENA Posted August 27, 2018 Report Share Posted August 27, 2018 ltt Quote Link to comment Share on other sites More sharing options...
Popular Post Simple123 Posted August 27, 2018 Popular Post Report Share Posted August 27, 2018 Yes, you can withdraw funds in 2019. But you need to pay taxes .. For example if you have $100,000 in your 401k. First you need to pay penalty 10% to withdraw before 65. So you left with $90,000. Your tax year 2018 tax rate Tax: $11,679.00 Tax as % of Income: 12.98% Tax Bracket: 22% So you left with $78,321 in hand. 4 Quote Link to comment Share on other sites More sharing options...
pandit Posted August 27, 2018 Report Share Posted August 27, 2018 Yes, you can withdraw funds in 2019. Simple123 is on point. Quote Link to comment Share on other sites More sharing options...
Kalam_Youtheman Posted August 27, 2018 Report Share Posted August 27, 2018 5 minutes ago, Simple123 said: Yes, you can withdraw funds in 2019. But you need to pay taxes .. For example if you have $100,000 in your 401k. First you need to pay penalty 10% to withdraw before 65. So you left with $90,000. Your tax year 2018 tax rate Tax: $11,679.00 Tax as % of Income: 12.98% Tax Bracket: 22% So you left with $78,321 in hand. TS inka usa ki raaadu n working in india...so tax ela calc avthundhii Quote Link to comment Share on other sites More sharing options...
Simple123 Posted August 27, 2018 Report Share Posted August 27, 2018 1 minute ago, Kalam_Youtheman said: TS inka usa ki raaadu n working in india...so tax ela calc avthundhii He has to pay tax returns either in india or USA. US and India have tax-treaty sharing agreement. So you need pay taxes for that amount either in india or USA. You cannot escapes taxes dude. Quote Link to comment Share on other sites More sharing options...
InSearch Posted August 27, 2018 Author Report Share Posted August 27, 2018 9 minutes ago, Simple123 said: Yes, you can withdraw funds in 2019. But you need to pay taxes .. For example if you have $100,000 in your 401k. First you need to pay penalty 10% to withdraw before 65. So you left with $90,000. Your tax year 2018 tax rate Tax: $11,679.00 Tax as % of Income: 12.98% Tax Bracket: 22% So you left with $78,321 in hand. Thanks bro.. but total only 15k ne undi.. so very less income in 2019 kabatii no taxes? and 10% must kattala? any other alternatives? Quote Link to comment Share on other sites More sharing options...
Simple123 Posted August 27, 2018 Report Share Posted August 27, 2018 4 minutes ago, InSearch said: Thanks bro.. but total only 15k ne undi.. so very less income in 2019 kabatii no taxes? and 10% must kattala? any other alternatives? For $15,000 in account : 10% penalty : 1500, so you left with $13,500. 10% tax bracket : $1350 .. You left with $12,000 in hand if you don't have any other income in INDIA. Sorry you can escape 10% tax bracket if you are married and your total income is less than X amount. Quote Link to comment Share on other sites More sharing options...
whatsapp Posted August 27, 2018 Report Share Posted August 27, 2018 1 minute ago, Simple123 said: For $15,000 in account : 10% penalty : 1500, so you left with $13,500. 10% tax bracket : $1350 .. You left with $12,000 in hand if you don't have any other income in INDIA 4 minutes ago, InSearch said: Thanks bro.. but total only 15k ne undi.. so very less income in 2019 kabatii no taxes? and 10% must kattala? any other alternatives? Take Loan on the 401K , So it would be easy for you!! Quote Link to comment Share on other sites More sharing options...
TOM_BHAYYA Posted August 27, 2018 Report Share Posted August 27, 2018 Ee tax free weekend ani ee 401k withdraws ki b apply chesthe baagundu Quote Link to comment Share on other sites More sharing options...
Simple123 Posted August 27, 2018 Report Share Posted August 27, 2018 2 minutes ago, whatsapp said: Take Loan on the 401K , So it would be easy for you!! You can take loan only up to 50% of your total amount or $50,000 max which ever is less. you cannot take 100% loan. Quote Link to comment Share on other sites More sharing options...
Simple123 Posted August 27, 2018 Report Share Posted August 27, 2018 2 minutes ago, TOM_BHAYYA said: Ee tax free weekend ani ee 401k withdraws ki b apply chesthe baagundu ala aithe govt etla run avutundi Quote Link to comment Share on other sites More sharing options...
Kalam_Youtheman Posted August 27, 2018 Report Share Posted August 27, 2018 10 minutes ago, Simple123 said: He has to pay tax returns either in india or USA. US and India have tax-treaty sharing agreement. So you need pay taxes for that amount either in india or USA. You cannot escapes taxes dude. gotcha Quote Link to comment Share on other sites More sharing options...
TOM_BHAYYA Posted August 27, 2018 Report Share Posted August 27, 2018 Just now, Simple123 said: You can take loan only up to 50% of your total amount or $50,000 max which ever is less. you cannot take 100% loan. Idhoti edichindha Quote Link to comment Share on other sites More sharing options...
Simple123 Posted August 27, 2018 Report Share Posted August 27, 2018 5 minutes ago, TOM_BHAYYA said: Idhoti edichindha Yes Tom Boy. It's all uncle SAM strategy. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.