AboutBruce Julien Expertise I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.
Experience I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.
Education/Credentials BA in Accounting, University of Maryland 1990
Question Can i use my annuity for a down payment on a house without paying it back? Are penalties involved if I do? Are there tax issues if I do?
Answer You can cash it out if you want
Don't do it
You pay all the built up tax on it, a penalty imposed by the company (if they impose one - check) and most people try to use any other source of funds but that.
You have to ask the company itself about how much the taxable income in it is and if there is a penalty
