Three traps to avoid when tapping your IRA for medical expenses

It’s bad enough to be sick.

But what can make you even sicker is the 10% early-withdrawal penalty the IRS assesses when you tap your traditional IRA to pay medical expenses.

Want to avoid this non-deductable penalty and get better without the pain of losing some of your IRA’s value?

We’ll show you how when you read my new article titled Tax Tips: Three Traps to Avoid when Tapping Your IRA for Medical Expenses.

Three ways our fact-filled article can help you:

1. We’ll help you avoid TRAP #1: Adjusted gross income limits. For 2015 and 2016, the exclusion from penalties only applies to two extremely important numbers. We’ll tell you what they are when you read the full article.
2. We’ll help you avoid TRAP #2: Timing of payment. If you tap your IRA for medical expenses, make sure you pay those expenses in the same year. We’ll explain this trap fully when you read the full article.
3. We’ll help you avoid TRAP #3: Dependents. Good news! You can use the medical-expense, penalty-free withdrawal for your own expenses and those of your spouse and dependents. We’ll give you all the details when you read the full article.