Retirement Contributions & Withdrawals
“I took money out of my 401(k) early, how much tax will I owe?”
An early 401(k) withdrawal often has tax consequences that depend on several factors, including your age at the time of the distribution, whether the money came from pre tax or Roth contributions, and whether any exceptions apply to the withdrawal. In many cases, the amount taken out is treated as ordinary income, and there may also be an additional penalty depending on the circumstances. State tax treatment can also vary, and the final result may be affected by the year of the withdrawal and any withholding already taken from the distribution. A CPA who reads your specifics can usually tell you, in plain English, where this lands.
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.
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