Yesterday, Congress inched closer to instituting major retirement reforms. The U.S. House of Representatives passed a bill that aims to encourage retirement savings among Americans and strengthen their long-term financial stability…..
A Reminder for First-time RMD Retirees
Even though the IRS is extending the April 15 deadline for filing your tax return to April 18 this year because of the weekend and a Washington, D.C., holiday, you don't get a similar extension for taking your first required minimum distribution (RMD). If you turned 70½ in 2016, you actually have until April 1, 2017 to take your first RMD...
Ins and Outs of In-Retirement Withdrawals
Yes, Taxes are Still Certain in Retirement
Tax season is in full swing, and by now your mail (or in) boxes have begun to be inundated with “IMPORTANT TAX DOCUMENTS ENCLOSED” correspondence. For the newly retired, their first tax season after leaving the workforce may catch them a bit by surprise. They are used to receiving a paycheck from their company, and their employer usually helped them when it came withholding taxes from their earnings...