Required Minimum Distributions (RMDs) can be a surprise for many retirees, increasing their taxable income once withdrawals begin. Since these distributions are taxed at your ordinary income rate, they can push you into a higher tax bracket, reducing the amount of retirement savings you keep. Fortunately, there are ways to lower the tax impact while staying compliant with IRS regulations. Let’s walk through how RMDs work, why they matter, and the strategies you can use to keep more of your savings.

The IRS recently announced updates to retirement plan contribution limits for 2025, giving savers a chance to build their financial futures more effectively. Whether you're just starting your retirement journey or refining an existing plan, understanding these changes can help you take full advantage of tax benefits while maximizing your savings potential.Here's what you need to know about these updates and how they can support your financial goals.

Capital gains can significantly impact your taxes, whether you’ve realized gains or losses from investments in real estate, partnerships, estates, trusts, or S-Corporations. Accurate reporting is critical when it comes to complying with IRS regulations and optimizing your tax strategy. Schedule D and Form 8949 play a central role in reporting these gains and losses. Let’s break it down to help you navigate this important part of your tax return.