While many retirement accounts offer tax-sheltered ways to save and invest, the IRS mandates accountholders start withdrawing money at a certain point. This takes the form of required minimum distributions (RMDs). Required minimum distributions currently start at age 73 for many retirement accounts. It’s not uncommon to reach an age when the IRS requires you […] The post I Have to Take RMDs, But Don’t Need the Money Yet. What Can I Do With It? appeared first on SmartReads by SmartAsset.
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How should you prepare for proposed tax changes? Congress and President Joe Biden are coming up with all sorts of tax changes.
By Ross Levin Text size Copy shortlink:
Eighth-grade chemistry was not very memorable except for two things: our teacher said worsh instead of wash and we had a project called sludge where we had to determine what was in a glob we were given by heating it, cooling it and filtering it. Things weren t going particularly well even before my lab partner handed me the sludge and I dropped it.
The new tax proposals remind me of our sludge experiment. Congress and President Joe Biden are coming up with all sorts of tax changes, so let s look at what s heating up, cooling down and what we filter.