3 results for tag: Required Minimum Distribution
The stock market isn't doing so great these days. While a number of factors have played a role in this year's bear market (2022), skyrocketing inflation — the highest in over 40 years — and aggressively rising interest rates, have combined to drive share prices down in most sectors. It’s down nearly 20 percent year to date. And, Bonds haven’t done so well either... And the IRS doesn’t seem to care. If you’re 73 or older, you still have to take your annual RMD (Required Minimum Distribution) from your traditional IRA, SEP-IRA, or SIMPLE IRA by the end of the year. (RMDs are not required for Roth IRAs so long as the account holder is ...
If you become an executor of your loved one’s estate, you may have some important tax decisions to make. Here are some quick thoughts. The now-deceased loved one may have been single or married and may have been a relative or not.
During these challenging times dealing with COVID-19 and the additional challenges economic and otherwise it brings, if a loved one passes away and you serve as the executor or inherit assets, you need to consider your duties and so some tax planning.