Tag Archive for: RMDs
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.
Retired And Returning To Work: How The Extra Income Could Collide With Other Financial Considerations
Extra income in and of itself isn’t bad if you are among those retired people thinking about picking up a job again. However, it’s worth considering how the extra income could affect other parts of your financial life. CLICK ON THE HEADLINE FOR MORE
Five Year-End Tax-Planning Steps to Consider Before the End of the Year
Here are a few tax-planning and tax-saving strategies to consider before December 31 to potentially help reduce your tax burden (or maybe even get you a larger refund in 2021), CLICK ON THE HEADLINE FOR MORE
Three Tax Penalties That Can Cost You Thousands
It's easy to lose money to IRS penalties. But being aware of the rules, you can take steps to ensure you get to keep more of your hard-earned money. CLICK ON THE HEADLINE FOR MORE
Three Bad IRA Mistakes You Can Avoid
The money you save by avoiding IRA mistakes can make a big difference in your security and standard of living in retirement. CLICK ON THE HEADLINE FOR THREE BAD ONES TO AVOID