DAVID S. BABOIAN, CPA, PC

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3/6/2016

March 06th, 2016

Read Now
 
TAX TIP OF THE DAY...  early IRA distributions for college  

You can eliminate the 10% early withdrawal penalty on IRAs if used for qualified higher education for the taxpayer, taxpayer's child or grandchild.
1) rollover 401k, 403(b) and other pension plans to IRA's in order to use the college exceptions.  The college exceptions ONLY APPLY TO IRAs!
2) no penalty... for tuition
3) no penalty... for books & supplies
4) no penalty... for room & board
5) no penalty... for technology (computers, tablets, phones, internet)

SHARE WITH A FRIEND.
If you need any help... www.baboiancpa.com

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    David S. Baboian, CPA

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  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYEE set up forms for new hires
      • EMPLOYER set up forms
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's band - Dance Fever
    • Haunted Chamber
    • Picture gallery
  • Secure email