Do you think tax rates are going to be higher or lower in the future? If you’re like most people and you think tax rates are going to be higher, your future tax bill with tax-deductible retirement accounts like a 401k plan and traditional IRA could be much higher. Deferred Taxes Equals Compounded Taxes Do [...]
If you did not receive the required minimum distribution from your IRA or other retirement accounts this year, then you’ll have to file Form 5329 with your tax return. Required Minimum Distribution (RMD) If you fail to take the full RMD from a qualified retirement plan by the applicable deadline, the amount not withdrawn is [...]
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