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Starbucks to Close 250 Stores as Retirees Weigh 401(k) Loan Tax Traps

Original: Starbucks Will Close 250 Stores. His $20,000 401(k) Loan Won’t Count Against Social Security’s Earnings Test, but It Could Make More of His Benefit Taxable

Starbucks says it will close 250 stores in its latest round of restructuring. At the same time, financial columnists are examining whether a $20,000 401(k) loan affects Social Security: the loan itself does not count against the earnings test, but the repayments and reduced withholding could push more of a retiree's benefits into taxable income. Commenters are debating how store closures and retirement income decisions interact for older workers.

Why now: A major retailer's layoffs and closures are prompting workers to reassess retirement and Social Security tax consequences.

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• Starbucks Will Close 250 Stores. His $20,000 401(k) Loan Won’t Count Against Social Security’s Earnings Test, but It Could Make More of His Benefit Taxable · 24/7 Wall St.

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