Crucial tax deadline is approaching fast, are you ready?
An important deadline is approaching fast: December 31 is the last day to take your required minimum distributions (RMDs) from your traditional 401(k) or IRA. If you are age 70 ½, this is the amount you must withdraw annually from your tax-deferred retirement accounts and pay income tax on. According to Fidelity, only about half of their RMD-eligible IRA customers had withdrawn any amount towards their RMD for 2018. Read attached article to find out what the penalty is for missing this important deadline and ways of avoiding it. Read article here…
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