Blog Archives

Required Minimum Distributions – Part 2

                In last week’s blog post I covered the basics of how required minimum distribution (RMD) rules work for IRAs and other tax deferred retirement accounts.  To summarize you must take out a minimum amount from your account each year.  That’s RMD and it starts in the year you turn age 70 and ½.                 […]

Read More

Required Minimum Distributions – Part 1

                This week’s blog post topic is one I touched on briefly at the end of last year, required minimum distribution.  It is something that applies to retirement or nonqualified accounts and comes up frequently with clients who sometimes misunderstand it.  IRAs, 401ks and other retirement accounts are tax deferred accounts.  Under tax laws, the […]

Read More

An RMD and Tax Waiver Problem (Part 2)

                In my blog post last week I laid out Mary’s problem trying to draw out the required minimum distribution for 2018 from her deceased aunt’s IRA.  June died in November and had not yet taken the minimum necessary (RMD) to avoid a 50% penalty.  The bank holding the IRA, however, has refused to allow […]

Read More