Well, tomorrow starts December 2022…it is hard to believe!!! The end of the year is close which means Tax Time is coming sooner than you think!! Do you know what RMD stands for? It is a Required Minimum Distribution, which states you are required to take a withdraw from your employer-sponsored retirement plan or Traditional IRA. If you are over 72 and choose not to take your RMD, you can be penalized by the IRS. This link will take you to more information regarding your RMD.
https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions
Once you read, if you still have questions, call us at 606-585-0131 …we are here for you!!
The Darlings