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.
Early Withdrawals. Your 401(k) may let you withdraw money before you turn 59 1/2 if you're in extreme financial need. The price is an extra 10 percent penalty tax on the money. You report early distributions on the first section of IRS Form 5329.Use Line One to list the entire amount you took out. If some of the money is exempt from extra tax -- withdrawals due to permanent disability, for instance -- list that amount on Line Two.fter turning 70 1/2, you must take regular withdrawals each year. There's no Social Security tax on withdrawals, just income tax. After the year ends, the 401(k) administrator sends you a 1099-R form showing how much you withdrew. Enter this amount on your Form 1040 on the line for pension and annuity income.