Tag Archive for: retirement withdrawals
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Great Savers Could Face A ‘Tax Time Bomb’ In Retirement, Advisor Says — Here’s How To Avoid It
Starting in 2023, Secure 2.0, a $1.7 trillion legislative package signed by President Joe Biden in December 2022, raised the age that savers must start taking required minimum distributions, or RMDs, to 73. RMDs are typically tied to pre-tax retirement accounts, which incur regular income taxes for withdrawals. Those RMDs could push some retirees into a higher tax bracket.
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One Smart Reason To Claim Social Security Early If You Lose Your Job
If you're close to retirement age, losing your job could wreck your retirement plans. But if worse comes to worse and you find yourself unemployed later in life, there's one good reason to consider claiming Social Security benefits as early as possible. CLICK ON THE HEADLINE FOR MORE
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30 Ways To Prevent A Tax Audit
To avoid receiving an audit letter from the IRS, avoid foolish mistakes and take the right steps to minimize the risk. CLICK ON THE HEADLINE FOR MORE