What Are Required Minimum Distributions (RMD’s)? When you reach the age of 70 & 1/2, Uncle Sugar (The IRS) mandates that you take a minimum withdrawal from your tax-deferred retirement accounts. Why? So he can potentially tax that money! In the year you turn 70 & 1/2 years old, you must withdraw the specified amount by…

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The Tax Cuts and Jobs Act of 2017 The Tax Cuts and Jobs Act of 2017 reduced federal income tax liability for some, but not all Americans. Wealthy residents of California, New York and other high-tax states could face a higher tax bill, when they file their 2018 return.1 Effects on 2018 Tax Filings: Cuts…

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