Retirement Contributions & Withdrawals
“How much will my early 401(k) withdrawal cost me in taxes?”
An early 401(k) withdrawal can have several layers of cost, and the total often depends on the amount taken out, your age at the time of the withdrawal, and whether the distribution qualifies for any exception. In many cases, the withdrawal is treated as taxable income, and there may also be an additional tax or penalty tied to taking funds before retirement age. State tax treatment can also matter, along with whether the money came from pre-tax contributions, Roth contributions, or employer matching. The exact impact usually depends on your overall income picture for the year. Going through your records with a CPA usually surfaces the answer in under an hour.
In your 30-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“As a freelancer, what retirement account saves me the most on taxes?”
“As a consultant, what retirement account saves me the most on taxes?”
“As a 1099 contractor, what retirement account saves me the most on taxes?”
“As a small business owner, what retirement account saves me the most on taxes?”
“I withdrew $2,000 from my 401(k) early, how bad is the tax hit?”
“I withdrew $5,000 from my 401(k) early, how bad is the tax hit?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
Back to the full library