One of the positive features of the SECURE Act, passed in 2019, was that it eliminated the restriction that if you had reached age 70 1/2, you could no longer make IRA contributions.
If you are the owner of an IRA account or a beneficiary, you need to understand the rules governing when to take required minimum distributions (RMDs). Regulations have changed regarding penalties for missed RMDs. Although the penalties starting in 2023 have been reduced, the amounts can still be very significant.
Receiving a tax refund is exciting as long as you don't dwell on the fact that it was your money to begin with! Jill Schlesinger of "Jill on Money" shares tips on reducing your withholding if possible and using your tax refund wisely.
Did you know there’s a way to support your favorite charities and save money on your taxes?
Many workers aren’t ready to retire at the traditional retirement age of 65 and instead continue working into their 70s. While they can postpone retirement, they can’t entirely delay taking required minimum distributions (RMDs) from tax-deferred retirement accounts. If you’re working into your 70s, here’s what you need…