QCDs are a good deal for everyone. The charity of your choice gets your contribution. And you get to deduct the amount of the contribution,even if you do not itemize deductions. That deduction reduces your taxes. My wife and I obtained a checkbook from Schwab for the specific ...
When you convert money in a traditional IRA to a Roth, you must pay taxes on the amount you convert (although part of the conversion won’t be taxed if you’ve made nondeductible contributions to your IRA). But after the conversion, all withdrawals are tax-free, as long as yo...
Required Minimum Distributions, Tax Planning How Do I Take an RMD from an Illiquid Asset? by Courtney Fraser Regan on January 9, 2018 The tax penalty for failing to take an RMD is steep at 50% of the amount you fail to take, so it is essential that you make the effort to take ...