Here’s a strategy for older taxpayers who are charitably minded and also must take required minimum distributions from their traditional IRAs.
retirement
Your Weekly Read
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.
4 ideas that may help reduce your 2023 tax bill
Before you know it, 2024 will be here. But until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.
11 Exceptions to the 10% penalty on early IRA withdrawals
If you need cash, you may want to tap your traditional IRA. But if you’re not yet 59½, you may have to pay a penalty tax if you do. Here are 11 exceptions to the penalty.
Valuations can help business owners plan for the future
Most business owners know that a valuation will be necessary if they decide to sell their companies. But there are other reasons to consider engaging a qualified appraiser.
Contributing to your employer’s 401(k) plan: How it works
Does your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.
2021 individual income tax limits
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than three months (unless you file an extension). However, it’s...
Don’t forget to take required minimum distributions in 2021
If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions (RMDs) when you reach a certain age — or you’ll be penalized. The CARES Act, which passed last March, allowed people to skip...
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Washington, NC 27889
Washington, NC 27889
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