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If I Live In The U.S. And I Work In Mexico Do I Owe Any Income Taxes?
User Photo John Stancil
Tax Professional Level: Master Tax Advisor

It depends on your level of income. Any earnings that you receive from working in Mexico would be subject to income tax, just like any domestic earnings. However, if you pay Mexican income tax, you may be able to...   Read More
0 0 401K a
Sect 529 Plan Funds Not Used For Education
User Photo Harold Goedde
Tax Professional Level: Tax Enthusiast

First, prepare form 1099Q, "Payments for Qualified Education Expenses under Sects 529 and 530." Enter gross distributions, earnings, basis, and qualified education expenses paid with the funds. Enter the funds...   Read More
I Am Considering Withdrawing Money From My 401K (I Think It Is An IRA Now, Because I Don't Work At That Company Anymore) To Pay Off Debt....
User Photo William Keats
Tax Professional Level: Master Tax Advisor

It all depends on how much you withdraw from your IRA (assuming you rolled over your 401(k) into an IRA), as well as your other income and your age. If you are younger than 59 1/2 years old you could be hit with a...   Read More
0 0 401K IRA


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