by mariettacp | Jan 5, 2011 | Money Tips, Tax Planning, Tax Tips
Facing a penalty for underpayment of estimated taxes and the increased withholding option is unavailable or won’t sufficiently address the problem? Take an eligible rollover distribution from a qualified retirement plan before the end of 2010. Income tax will be...
by mariettacp | Dec 2, 2010 | Money Tips, Tax Planning, Tax Tips
If you have reached age 70 1/2, , another way to reduce your federal tax bill is to take required minimum distributions (RMD) from your IRA or 401(k) plan (or other employer-sponsored retired plan). Failure to take a required withdrawal can result in a penalty of 50%...