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Old 12-01-2005, 05:04 AM
lastsamurai lastsamurai is offline
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Join Date: Mar 2005
Location: la la land
Posts: 222
Default Re: SEP IRA Tax Question

Yes you should always max out your IRA's, 401K's and ect...

as for the 10% Penalty...that is added to your capital gains tax and the state penalty (california is 2.5%) so over all your total liability could be 35% depending on your tax bracket. and the NON TAXABLE interest/capital gains will be taxed....
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