Are you sitting on a tax-deferred time bomb?

If you have money in a tax-deferred retirement account such as a 401(k), IRA or 403(b), you’re sitting on a tax time bomb. Here’s why… Conventional wisdom says, “Maximize your contributions to tax-deferred plans. Your money compounds without being reduced by taxes and you’ll end up with more money during retirement.” But like much conventional wisdom about personal finance, it’s baloney. The Society of Actuaries says if tax rates remain the same, “It doesn’t make any

Qualified Charitable Deduction requirements

Take advantage of the Qualified Charitable Deduction (QCD) with your Required Minimum Distribution (RMD). The requirements for the Qualified Charitable deduction are as follows: The IRA owner must be at least age 70 ½ The maximum dollar amount is limited to $100,000 Only distributions from an individual IRA (including a rollover IRA) are eligible The distribution must go directly by check made specifically to a public charity. It cannot go to a private foundation, nor