Setting up 72T plan

L1: Setting up 72T planWhat are the typical fees an accountant would charge to set up a 72T withdrawal plan?If I used the calculator on your website, would that be adequate documentation if later questioned by the IRS?2002-06-29 08:53, By: teknchuck, IP: [127.0.0.1]
L2: Setting up 72T planI don’t know if there are any typical fees, you should probably check with your accountant/tax advisor.As for using the calculator, it calculates the payments based on an interest rate. You should also review the sample form and the FAQ section – there are lost of alternatives that may (or may not) be right for you based on your objectives.A basic plan isn’t difficult to set up, it’s when you want to add the bells and whistles that a professional can really help.2002-06-29 09:06, By: Gfw, IP: [127.0.0.1]

L2: Setting up 72T planHello teknchuck:The “setting up” of a 72t plan is kinda like the tail wagging the dog; it should be viewed as the end of a thinking process.Instead, I would suggest that you start by reviewing all the data & posts on this website. Secondly, if I can be so bold, I would visit www.retireearlyhomepage.com; review all the data there & potentially buy some of the reports for sale on that website. There is a particularly good one on SEPPs (for which I happen to be the author).As I have been known to say before, after doing all of the above, you will personally know more about the proper planning & execution of SEPPs / 72T plans than 99% of all practicing tax accountants and tax lawyers.In fact, you may reach this point and decide that you do not need any professional help at all; therefore saving a fairly material amount of money.Or, you may reach this point & decide that you still do need or want professional help; in which case, you will be well armed to interview/hire the right professional & more than likely will pay reduced fees to that professional because your so smart on the subject & most likely know exactly what you want and what specific problem you want solved.TheBadgerwjstecker@wispertel.net2002-06-29 10:44, By: TheBadger, IP: [127.0.0.1]