401k and why you cannot get away from taxes by leaving the country

Hi Everyone,

today I will write few words about retirement plans and the book that helps you answer the most difficult questions with regards to your retirement. Basically 401k retirement plan doesn't allow you to get away from taxes by leaving the country.

No matter which of the retirement accounts you have chosen, you cannot avoid paying a proper tax for each contribution or withdrawal you make- for which, you have to decide when you will be filling up all the formalities that are necessary to establish your retirement account. The 401(k) does not allow you to get away from the taxes as well.  Some customers have also very weird ideas of how to avoid the taxes, let me show you one of them together with the attempting of giving the answer.

Can the customer avoid paying the taxes when he or she will leave the country or will move to another state?
No. There is no such option. You can get away from the unemployment, from the people you do not like and from the weather. But not from the taxes unless you work in the grey zone. If you have a retirement account- in this case 401(k), you cannot avoid paying taxes.  Of course, this plan allows you to have pre-tax money on your account, but the taxation will not be omitted- you will have to pay by your first withdrawal. Of course- you can also never make it, but what for will you need the account? The withdrawals, when you will retire is perceived as an ordinary income, that you had been earned regularly before you decided to quit your job and lead a pleasant, retirement life. So if it is your income- you are obliged to pay an income tax. The tax avoidance is one of the ideas that will be thoroughly searched for the government and you will have to pay more, if they will find out that you are trying not to pay. The budget deficit is not small.

Such similar areas are covered in this book which I think it is quite important to get know how the 401k plan works.  For more information about 401k plan and 401k contribution limits you can go through this book or just search for the answers in internet resources. If you are interested in another books review about different retirement plans like e.g. roth ira please let me know.

PMP Certification for Dummies - book review

Welcome in my first book review. Today I will talk few words about book that covers PMP - related subjects. According to pmp certification website PMP is an abbreviation for Project Management Professional and is a kind of certificate issued by PMI (Project Management Institute). Today this is probably the most recognizable certification you can obtain in terms of being a certified project manager.

Advantages

But let's get back to the book. This book was recommended me as a good source of information when preparing to PMP exam. In fact the book did a good job because I got information on PMP lifecycle in a logical flow and... nothing else. The good thing in this book is a cd with sample 300 exam questions which is pretty nice.

Disadvantages

The bad thing is that the book has many mistakes, so if you seriously think about passing the PMP exam do not buy this one. Also the information included in the book will not be enough to get the highest score during the exam.

My personal feeling after reading this book was that the book is addressed to total PMP beginners who are looking for a basic information what the PMP is, how to pass the exam, what can be expected during the exam, which areas should are learned in order to pass etc. Anyway if you need to just check what are the pmp certification requirements you can check them easily in internet websites or directly search on PMI resources.

Welcome to the Certification Books Review blog

Hello Everybody,

this is my first post on this blog. I'm going to present you the most recent reviews about different certification books, mainly from IT-area. If you wanted me to review a particular book please contact me via this blog by e.g. leaving a comment so I will then have a look at the book mentioned and place its review in this blog.

Hope you will enjoy it.