What happens if you take the check?

Question

profit sharing check

Answer 1

Not sure about your question but you can invest it or put it in a Certificate of Deposit if the interest is good.

Answer 2

Talk to your tax professional. One way or another Uncle Sam and your state want their share. When and how much depends on other factors.

Answer 3

depending on your age if you spend any of it that you spend will be taxed per your tax bracket as income..........if you roll it completely over into an IRA you wont