If you have several IRAs, you’ll need to calculate the RMD for each account. However, you can take your total RMD from only one IRA or a combination of IRAs. If you own multiple 401(k)s, you must calculate and take the RMD for each separately. ...
Our calculators will show you RMD and Stretch concepts using both the Pre-Secure Act rules, as well as the new rules under the Secure Act. Consulting Our Attorney who specializes in compliance and tax changes will consult with you on the new changes in the law and how your firm can best...
Basically, if an RMD is missed, there’s a 25% excise tax on the missed amount. “If you add that to the top 37% ordinary income tax rate, you get a combined tax of 62%. Most people won’t be in the 37%...