Donate — from an IRA — and save

Donate — from an IRA — and save

The Internal Revenue Service requires retirees to take annual minimum distributions from individual retirement accounts (IRAs). In situations where clients don’t rely on that money for income, they may consider making a charitable donation with the proceeds. IRA account owners must start taking required minimum distributions at age 70½, and report the distribution as taxable

RMD season presents planning opportunities

RMD season presents planning opportunities

December can be a busy month for clients, particularly those 70½ and older who must take required minimum distributions from their retirement accounts before year-end. This requirement may present a planning opportunity to meet with clients who may not rely on these distributions for income. Help family members save for college Grandparents may use RMDs

Clients should act now if they want to avoid taxes on recent RMDs

Clients should act now if they want to avoid taxes on recent RMDs

With the passage of the American Taxpayer Relief Act of 2012, Congress extended for 2013 the option for IRA owners over the age of 70½ to make tax-free distributions from an IRA, if those funds are directed to a qualified charity. However, time is running out to take advantage of a new retroactive provision that