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Energy upgrades for Summit, Stark
Job openings plunged by one-quarter last year
State Farm says it warned NHTSA on Toyota in 2007
Wholesale inventories cut 0.8 percent in December
Toyota recalls 437,000 Priuses, hybrids globally
Phones can be used to redeem Target cards
Most Read Stories
Another winter punch heading toward Ohio
Man robbed at Tallmadge Avenue eatery
Complaints against officer keep coming
Police say couple had 50 stolen hubcaps
Police: Ohio girl dies after fall into snow bank
Police: Man tries to buy crack with credit card
Woman rescued after falling through rotting floor in house
Four teens restrain man, take items from his Akron home
Blogs:
First Bell - On Education:
No City of Akron basketball tonight
Pets:
Pet telethon re-airs
The Heldenfiles:
NBC Releases Olympics Announcer List
Akron Zips:
Zips favored on road against MAC West leader
Tribe Matters:
Blogmail response on Hafner
Cleveland Browns:
Stallworth's contract terminated
Balanced Ledger:
QB in Browns future: another mock draft
Kent State Sports:
KSU Notes – February 9
Cleveland Cavaliers:
NBA Power Rankings from Around the Internet
Buckeye Blogging:
Buckeyes grab 18 players on signing day
Varsity Letters:
Five local gridders to play in Big33
All Da King's Men:
Palin At The Tea Party Convention
Blog of Mass Destruction:
Republican Pre-Conditions
Akron Law Café:
Law, Love and Chocolate
Car Chase:
Collector Car Hobby Loses One of the Best—Jim Roll
Let's Talk Real Estate:
Decisions Decisions: Credit Cards or Your Mortgage?
Ohio Travels with Betty:
Loucile is looking for a Lake Erie getaway in June for three kids, ages 1, 3, and 5.
Sound Check:
Talk of the Town – Top entertainment picks for the weekend
HRLite House:
OFCCP Report
Akron Gamer:
Makers of 'Castle Crashers' unveil 'BattleBlock Theater'
See Jane Style:
Do IT this week: Layering
Published on Saturday, Aug 25, 2007
If you're in the market for your first home and need a financial leg up, you might want to consider taking money out of your IRA.
Withdrawing cash from an IRA before you turn 591/2 typically carries hefty penalties, but the IRS makes an exception for first-time home buyers.
You can take up to $10,000 out of your IRA penalty-free as long as you put the money toward building, buying or refurbishing your first home within 120 days of receiving the money.
If your spouse also qualifies as a first-time buyer, you can get up to $20,000 to invest in your dream home.
A first-time home buyer is anyone who hasn't held an ownership interest in a main home for the last two years, according to IRS Publication 590.
You might even qualify for the penalty-free withdrawal if you're not planning to live in the home yourself.
For information, visit http://www.irs.gov on the Web or talk to a certified public accountant.
If you're in the market for your first home and need a financial leg up, you might want to consider taking money out of your IRA.
Get the full article here.
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