By LouAnn Schulfer, AWMA®, AIF®
Accredited Wealth Management Advisor®
Accredited Investment Fiduciary®
We get all sorts of questions regarding Required Minimum Distributions. We put a substantial amount of effort into planning for and effecting the mandatory withdrawals that must occur from certain retirement accounts. If you are an IRA (Individual Retirement Account) owner, here are five RMD facts to be mindful of.
Required Distributions can be complicated and there are many rules surrounding the different types of accounts they apply to. If you are subject to RMD’s, it is worth your while to know the rules or to consult with a qualified professional, because the IRS penalty for not taking an RMD is 50% of what you should have taken.
LouAnn Schulfer is co-owner of Schulfer & Associates, LLC Wealth Management and can be reached at (715) 343-9600 or email@example.com. www.SchulferAndAssociates.com
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.