Question about withdrawl from SEP IRA

M said...


I have a SEP IRA through my employer. We just transitioned to a 401K this month. Instead of rolling my SEP IRA into my 401K, I've been contemplating cashing it out (~$35K)and paying off family debt obligations (credit card, car loans). My understanding is that the withdrawal *may* only be subject to simple tax (10%) when time time comes to file my 2010 return. I haven't calculated capital gains/losses, but according to my statements over the past 3 years total income earned on this SEP IRA is less than $600. Am I overlooking something?

Question about expensing cost

Diana said...


I am not sure if this is where to ask this question. In a janitorial business I have soap dispensers that I sell. I do not charge for the dispensers and the installation

when a customers purcases my soap.I take the dispensers out of inventory.My question is how to I record the cost of the dispensers on the books. Are they sales expenses or are they considered assets to be depreciated. I currently have 4000

dollars worth of despensers installed in various businesses.

Question regarding student loans vs personal loans

DogsBody said...


Hi there,

I am planning to undertake Post Graduate study overseas and as such I don't qualify for a student loan. The course is run in eight modules over two years, and you can pay in two instalments every year, one in October and one in January. My question is, if I am going to take out a personal loan to cover the tuition fees, is it better to get this in one lump sum (about $NZ20 grand) or get four smaller personal loans over the two years? I just figure if I take the lump sum I'll be paying interest from day one, even though I don't actually need all the money right away. My other question is, is it sometimes better to use a low interest credit card for such things? From what I have seen, the interest rates are lower on some credit cards than for personal loans.



Much obliged,

Poor Student

Your Personal Accountants: Question regarding forensic accounting.

Your Personal Accountants: Question regarding forensic accounting.

Question regarding forensic accounting.

Chelseaa! said...


I have a couple of questions regarding forensic accounting that I was wondering if you could answer.
How would you describe forensic accounting?
How is it different from accounting?
What is the current job market like?
How is it changing?
What are skills required of a forensic accountant?
What environment do they work in?
What are some responsibilities they hold?
What would you qualify as special characteristics of a forensic accountant?
What is the projected salary?
What degrees are required?
Which additional ones are beneficial?
What certifications are beneficial to have?

Need advice for month closing practices.

rollotom said...


Can you recommend a way to get realistic practice on the month end closing process? My lack of experience in this area is hindering my job search. Do you know of any websites, books, etc that would have such exercises?

Thanks!!