Don't forget about your RMD Older adults who reach age 70 1/2 and are no longer working need to start drawing funds from their retirement savings accounts, making sure they meet their required minimum distribution (RMD) for the year. RMDs apply to … [Read more...] about Turning 70 1/2?
A tax-free way to help your favorite cause Normally, money distributed from an Individual Retirement Account (IRA) is taxable. However, if the funds are donated directly to charity, the distribution is completely tax-free. This is a significant … [Read more...] about Using an IRA to Make Charitable Contributions
Donate via your IRA With the larger standard deduction amounts beginning this year, many people could lose the tax benefit of making charitable contributions. To reduce tax liability, certain taxpayers could use a qualified charitable distribution … [Read more...] about Charitable Contributions
Tips for Record Keeping We always get the following questions from our clients: “How long do I need to keep important records?” We believe the problem is people often look at their filing cabinets, drawers and file boxes filled to capacity around … [Read more...] about Record Keeping