Required Minimum Distributions (RMDs)

You are mandated by the IRS to withdraw money from your IRA, 401K, 403b and other tax qualified plans at age 70 ½. Failure to withdraw the proper amount will result in a 50% tax penalty and income tax on the full amount you should have taken.

Some of the questions we explore to ensure a productive and tax efficient RMD strategy include:

  • How can you make sure to withdraw the right amount, from the right account, at the right time?
  • Do you know which accounts it would be best to take the required amount from?
  • What will be the effects of RMDs on other retirement benefits such as Social Security and Medicare premiums?

There are many issues in addition to the above that should be considered.

We will help you sort through the many implications and make sure you take enough from the right accounts without having unnecessary taxes or being subject to IRS penalties.

Let’s Have a Call.(502) 326-0000. You talk. We’ll listen. And together we’ll collaborate.