The golden years often conjure images of carefree days filled with leisure activities and well-deserved relaxation. But for many retirees, a financial reality called the Required Minimum Distribution (RMD) comes into play, impacting their income and tax obligations. So, what exactly is an RMD, and how does it work? Find out how you can navigate the intricacies of RMDs, clarifying who needs to take them, how they're calculated, and the potential consequences of ignoring them.
Posted by: Myrick CPA
Posted on: Jan 11 2024
Posted by: Myrick CPA
Posted on: Jan 04 2024
For many individual taxpayers and small business owners working to navigate the ever-shifting financial landscape, the term "capital gains" looms like a shadow. Fear not, though; unmasking this particular beast is simpler than you might think. Learn how to solve the mysteries of capital gains taxes, explore calculation methods, and uncover strategies to potentially minimize their bite.