RMDs usually must be taken by December 31. If you don’t comply, you can owe a penalty equal to 25% of the amount you should have withdrawn.
retirement
Your Weekly Read
There’s still time to reduce your 2025 income tax
Just because it’s December doesn’t mean it’s too late to reduce your 2025 tax liability. Consider implementing these ideas before Dec. 31.
Is an HSA a financially smart health care option for you?
Health Savings Accounts offer several valuable tax benefits. But you can contribute to an HSA only if you have a high-deductible health plan.
The power of catch-up retirement account contributions after 50
Over age 50? Catch-up retirement contributions could make a huge difference in your future wealth. Here’s how.
Taming the tax tangle if you’re considering retirement
Retirement is a chance to travel, visit with family or just enjoy relaxing. Yet retirement may bring a tangle of tax implications.
You may be still able to make a traditional IRA contribution for last year
The best way to grow your nest egg is to save for retirement today. There’s still time to make an IRA contribution if you are eligible.
Maximize your 401(k) in 2025: Smart strategies for a secure retirement
Planning for the future? You may want to contribute new amounts to your employer’s 401(k) plan or Roth 401(k).
Make Qualified Charitable Distributions from your IRA
A Qualified charitable distribution can benefit you and your favorite charities. Here’s how to unlock the power of giving.
Use a Qualified Charitable Distribution to avoid taxable IRA withdrawals
Here’s a strategy for older taxpayers who are charitably minded and also must take required minimum distributions from their traditional IRAs.
Update on retirement account required minimum distributions
The SECURE 2.0 law includes good news about required minimum distributions from tax-favored retirement accounts. But an earlier law contained some bad news for certain beneficiaries of inherited retirement accounts. Here are the rules.
If you didn’t contribute to an IRA last year, there’s still time
Saving now for retirement is one of the smartest moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2023 tax return.
IRAs: Build a tax-favored retirement nest egg
How much can you save in an individual retirement account this year and when do you have to start making withdrawals? Here are the answers to these and other IRA questions.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
144 W 2nd St
Washington, NC 27889
Washington, NC 27889
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