most farm ponds are constructed in a drainage basin on gently sloping terrain the earth that is excavated for the pond basin is used to construct the dam however there must be sufficient clay content in the soil for the pond to hold water 20 percent clay content is the recommended minimum
Normally you can't tap your retirement plan -- whether it's a 401(k) or IRA -- before you turn 59 1/2. Withdrawing the money early is costly. You'll pay not only regular income tax on the money, but a 10 percent penalty on top of that.For a $5,000 withdrawal, for instance, the penalty would be $500.However, federal tax law does allow the Internal Revenue Service to waive the penalty in certain cases.f you've already left your employer, you can avoid the penalty by making not one withdrawal but several -- substantially equal period payments, in IRS-speak. You have to take withdrawals for a minimum of five years, or until you turn 59 1/2, even if that adds up to more than you want to withdraw.
Thatâs because, in the eyes of the IRS, cashing out your 401(k) before you are 59 Â½ is considered an early withdrawal and is subject to a 10 percent penalty on top of regular income taxes. In most cases, your plan administrator will mail you a check for 70 percent of your 401(k) balance.Thatâs your balance minus: 10 percent for the withdrawal penalty and 20 percent to cover federal income taxes (depending on your tax bracket, you may owe more or less when you file your return).dditionally, you can cash out your 401(k) and pay the 10 percent penalty if you need funds for certain financial hardships and have no other source of funds.