Johnny Cash-I Came to Believe Cover

Another great Cash song from his American V: A Hundred Highways Album. Hope you enjoy.

Online source: I Came To Believe – Cash sheet music

Giuseppe Grasso – I Came To Believe – Johnny Cash

What will happen if you got a scammed check and cashed it out right away? My MIL got a scammed check from what i believe and she cashed it out yesterday which was 900 something .She does not think it is but I think so since they wanted her to send 800 something to them but she did not ,she just kept the money and spent it.

Online source: I Came To Believe – Cash sheet music

The place where she cashed it will come after her for the money. Her keeping it all indicates that she cashed it knowing it was a scam, so she can expect to face criminal charges as well.Richard

Since she received the money, they will come after her for repayment. She will be liable for the face value of the check along with fees.

Common scam. The bank or wherever she cashed it will tell her she owes them $900. They may have cashed it and realed the funds but eventually they will find out it is bogus.Even though she got the check from someone else the check casher can file criminal charged in a heartbeat.

Does anyone believe the recession is over? 2% of the GDP came from cash for clunkers alone, there is no real growth, and what will prop up the GDP after the borrowing/printing stops?
The economic troubles started in 1980s when Reagan proposed the North American Accord, which later became known as NAFTA and deregulated trade with China.nothing in those respects have changed, so no, this recession isn’t over. Just another bubble created by nfusion of cash like has been occuring every since Reagan was in office.What we needis a good hardcore depression to remind America’s rich, where their money comes from. maybe right-wingers will learn somethign about economics while we are at it.

well if we survive all 2010 we can say the recession is overbut I have a strong feeling 2010 will get worse

in the past 6 months we’ve hired back all that were laid off and have hired almost 100 new people, for this small company.that is amazingso it may not be over, but it’s looking upI see help wanted signs all over.but as long as they keep expanding unemployment(just to make the numbers go up.i don’t see lines of people looking for work.I mean why would they?

Yes, I belive the recession is over, but that’s like saying the earthquake is over. There are still aftershocks, and of course we have all this rubble and search and rescue, and rebuilding to do.

No way but Australia has missed out falling under for a little while. Yet food prices and fuel prices are sky high.

The recession is over only in the ramblings of liberal-owned economists who are trying desperately to cover up for Obama’s incompetence.

What recession? I work in a nursing home, and from what most of the old folks tell me from their past experiences, they say this is more like the Great Depression than any recession they have ever seen in their lives.

It hasn’t even started yet.If a country is bankrupt.How can you borrow (create more debt) your way out of it, without creating more and better jobs.Consumer spending from increased borrowings is not the way out.Confidence is vital in an economy but confidence from increased exports not from hearing a few bells ringing in a few tills.Nor from house prices stabilising or increasing from money from increased borrowings that has not been earned–EDIT–Spend your way out of recession,but use your OWN money not Mine to do it !

FUCK THAT! What do they think I am, an idiot?To speechless: just what we need, more damn tv’s. Isn’t that why we’re a bunch of frickin morons? Why spend? Anybody who is smart will save. Spending in a time like this is about as smart as being a fucking brainwashed lunatic, you dumb asshole.

The next quarter GDP report will be important! Not the one they released last month! But the aim for the Cash for Clunkers and first time home buyer credits are specifically for the U.S. consumers which are accounted for 70% of the U.S. economy! The GDP and U.S. consumer confidence are related! When the consumers do not want to spend more, the U.S. economy contracted–this will lead to a vicious cycle!

Cashing out a IRA what is the 10% penalty based off and what is the taxes based off? I am cashing out an IRA before 59.5, what is the 10% penalty based off and what is the taxable amount based off? Does one happen before the other or do they both get figured off the amount cashed out? How long does this process take?
Both the penalty and income tax are based on the gross distribution. If you cash out $10K, you owe both the penalty and income tax on the entire $10K.

They are both based on the gross distribution from the account. The income tax rate is determined by your total income for the year. The penalty is a flat 10%.Processing time depends upon the custodian but it should not take any more than a day or two if the custodial ACHs the money straight to your bank. If you opt for a check in the mail, allow for mail time and probalby an additional fee ($15 – $25 is common) for the paper check.

10% come off the TOP the day they cut u a check.the other 15 -35% comes of the topat end of year billing.never touch it unless need it for bankruptcy

If you made any nondeductible contributions to the IRA, that part isn’t taxed. For example, if your IRA has $25,000 and the contributions of $12,000 were all deductible, then the full $25,000 is taxable. Thta would be added to the rest of your income for the year when you prepare your tax return. The 10% penalty would be $2,500.Now if you made nondeductible contributions of $5,000 into that same IRA, then the taxable distribution would be $20,000 and the penalty would be $2,000.The time to process depends on the institution. Most banks will have you prepare the paperwork then cut a check on the spot.I hope this helps.Gary

Nothing comes off the top UNLESS you make an election on the withdrawal form to withhold federal taxes. Moreover, the penalty and tax is based on the entire TAXABLE portion of your withdrawal; it does not apply to any basis (after-tax contributions, if any) withdrawn from the account. Example: You liquidate your IRA, elect to have no taxes withheld, and receive a check for $10,000. Your contributions to the account were all pre-tax (no basis). Your penalty, assuming no exception applies, is $1,000 (10%), and the $10,000 will be added to your other income and taxed at your marginal income tax rate. If your tax rate is 25%, you’ll owe $2,500 in income tax. Total tax, then, is $3,500.Hope my answer was clear and earns your best answer vote!DISCLAIMER FOR PROFESSIONALS: While the information in this response was obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. The opinion voiced in this answer is for general information only and it shall not be construed as tax, legal, or investment advice for any individual. Questioners are urged to consult with their professional advisers before making any decisions regarding their finances.Retirement Guru, CFP®, EA, CES, CFS, AAMSCertified Financial Planner™ PractitionerEnrolled Agent | Admitted to Practice before the IRSCertified Estate and Trust Specialist’Providing sound Retirement and Estate Planning Strategies since 1985′

The penalty is 10% of the gross amount withdrawn. The entire gross withdrawal is added to whatever other income you have for that year, an income tax is calculated on that.