This may not make much sense now, but following some new regulation, the framework of how we may be able to so some tax planning for Required Minimum Distributions for their IRA accounts has how changed. This new tax strategy is strictly for those who DO NOT need income and have hit the Required Minimum Distribution age of 70 1/2. Essentially, we have been hoping this new tax reduction strategy would find it’s way into law, and it did! I’ll have more on this, and will explain it in more details to the clients I feel will be able to benefit from this new found strategy. If you are taking RMDs from your IRA which is causing you to pay tax on additional income you don’t need, than this strategy apply’s to you! It may allow you to save on your current income tax in a very BIG way right NOW!
There will be more on this soon…