RMD Tax Tips For You…

Required Minimum Distributions (Rmds) Now Begin At Age 72 Many taxpayers are working longer and will no longer be required to withdraw assets from IRAs and 401(k)s at age 70½. RMDs now begin at age 72 for individuals who turn 70½ in the calendar year 2020. SECUREAct NEW for calendar year 2020, are provisions included […]

Qualified Charitable Deduction requirements

Take advantage of the Qualified Charitable Deduction (QCD) with your Required Minimum Distribution (RMD). The requirements for the Qualified Charitable deduction are as follows: The IRA owner must be at least age 70 ½ The maximum dollar amount is limited to $100,000 Only distributions from an individual IRA (including a rollover IRA) are eligible The […]