While many retirees know the basics of RMDs there are many aspects of the process that may not be fully understood.
The Treasury Department updated the life expectancy projections used to calculate RMDs which may allow retirees to keep more savings longer.
The CARES Act provides emergency assistance to those affected by the pandemic with a range of programs from expanded unemployment benefits to loans.
Year-end planning presents an opportune time to focus on retirement strategies.
With tax bills among clients’ top concerns, year-end planning offers an opportune time to take advantage of tax-smart strategies and meet 2014 deadlines. Here are five year-end planning ideas that require action by December 31, 2014, that could help you identify ways to build your business. 1. Review required minimum distributions (RMDs). Many investors take
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