by Craig Moser on December 13, 2019
Every year thousands of traditional IRA account owners turn 70 ½ years old. In addition, each year thousands of younger non-spouse beneficiaries inherit traditional and Roth IRA accounts. What do these two groups of people have in common? They all […]
Continue Readingby Craig Moser on May 10, 2019
At age 70 1/2, you begin taking Required Minimum Distributions (RMDs), from your IRA or qualified plan. To determine the amount, divide your account balance on December 31 of the previous year (adjusted for outstanding rollovers and transfers) by your […]
Continue Readingby Craig Moser on November 16, 2018
New Year’s Eve is still more than a month away. So why not avoid any last-minute fire drill and start your year end financial planning now? Do it now while you still have time to increase your retirement savings, and […]
Continue Readingby Craig Moser on April 6, 2018
Many retirement plans don’t require taxes during the accumulation phase. However, at some point, you always pay taxes on income. There is no skirting it. Because you withdraw from those tax-deferred retirement plans during retirement, you also pay taxes on […]
Continue Readingby Craig Moser on March 9, 2018
Are you thinking about signing up for a non-qualified deferred compensation (NQDC) plan? If so, you’re agreeing to defer part of your annual income until you retire (or some other future date). Before signing up, you should understand the impact […]
Continue Readingby Craig Moser on January 12, 2018
For those boomers born between July 1, 1946 and June 30, 1947, you turned 70 ½ in 2017. That means you need to take your first required minimum distribution (RMD) from your IRA and other “Pre-Tax” accounts. Here are the […]
Continue Readingby Craig Moser on November 10, 2017
1. General Rule As a general rule, your prior year’s RMD year-end account balance is used to calculate your required minimum distributions. For example, if you are calculating an RMD for 2017 you would use the 2016 year-end account balance. […]
Continue Readingby Craig Moser on October 27, 2017
Most people know required minimum distributions (RMDs) begin at age 70 ½ (from most retirement accounts.) But it is not as easy as just looking at when you are 70 ½. The month you were born determines when you begin […]
Continue Readingby Craig Moser on October 6, 2017
Required minimum distributions (RMDs) are a fact of life for most retirement account owners once they reach age 70 ½. However, if you fit the definition, you may be able to delay RMDs thanks to the RMD Still Working Exception. […]
Continue Readingby Craig Moser on September 15, 2017
Qualified Charitable Distributions (QCDs) are now a permanent part of the tax code. They allow individuals who are at least 70 ½ years old (at the time of the transfer) to directly transfer IRA funds to a qualifying charity. In […]
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