Checking off RMDs on the year-end to-do list

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Checking off RMDs on the year-end to-do list

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December 9, 2025 , , , , ,

RMD distribution

You likely have a lot of things to do between now and the end of the year, such as holiday shopping, donating to your favorite charities and planning get-togethers with family and friends. For older taxpayers with one or more tax-advantaged retirement accounts, as well as younger taxpayers who’ve inherited such an account, there may be one more thing that’s critical to check off the to-do list before year end: Take required minimum distributions (RMDs).
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Do you have questions about taking IRA withdrawals?

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January 14, 2025 , , ,

IRA withdrawal, RMD

We’ve got answers

Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA and SEP IRA. Since funds can’t stay in these accounts indefinitely, it’s important to understand the rules behind RMDs, which can be pretty complex. Below, we address some common questions to help you navigate this process.
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Senior tax-saving alert: Make charitable donations from your IRA

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December 3, 2024 , , , ,

IRA charitable donation, QCD

If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages.
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Make year-end tax planning moves before it’s too late!

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September 24, 2024 , , ,

year-end tax planning

With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next.
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Certain charitable donations allow you to avoid taxable IRA withdrawals

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July 2, 2024 , , , ,

Charitable Required Minimum Distribution

If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to consider a tax-saving strategy. It involves making a qualified charitable distribution (QCD).

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Update on retirement account required minimum distributions

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March 26, 2024 , , ,

RMD

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. If you inherit a tax-favored retirement account, including a traditional or Roth IRA, you’ll also have to deal with these rules.
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4 tax challenges you may encounter if you’re retiring soon

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May 16, 2023 , ,

retirement tax implications

Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications.

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How to avoid the early withdrawal tax penalty on IRA distributions

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July 26, 2022 , ,

IRA distribution

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals depending on how old you are when you take them and what you do with the money.

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Retiring soon? 4 tax issues you may face

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June 8, 2021 , , ,

retirement tax

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications.

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Don’t forget to take required minimum distributions this year

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January 26, 2021 , , , , ,

required minimum distribution

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 taking these withdrawals in 2020 but now that we’re in 2021, RMDs must be taken again.

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