Understanding RMDs
Required minimum distributions (RMDs) come into play at age 72 for most retirement accounts, serving as a way for the government to reclaim tax benefits previously granted. While 2020 saw a pause on RMDs, it's crucial to plan ahead, especially for inherited IRAs, which may involve new rules and potential tax implications. Seeking professional guidance can be beneficial for anyone anticipating a sizable inheritance in retirement accounts.In this clip
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274 | Tax Planning 2020 | Sean Mullaney
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