The 2023 RMD Rules Have Changed: How to Keep Your Tax Bill Down – Episode 155
Just a few years ago, the rules regarding Required Minimum Distributions (RMDs) were fairly simple: you turned age 70 ½, you had an RMD. But since the passage of the SECURE Acts, you may – or may not – be required to take an RMD this year. How do you know? That answer isn’t necessarily an easy one, for both IRA owners and for those who are the beneficiaries of an IRA. Did you know that you can be subject to RMDs even if you’re nowhere near age 73? If you aren’t familiar with the rules, you may wind up paying a lot more in taxes than you thought. As usual, it’s all about strategy.