Avoid penalty, take RMDs by Dec. 31

After you reach age 70½, you must take annual required minimum distributions (RMDs) from your IRAs (except Roth IRAs) and, generally, from your defined contribution plans (such as 401(k) plans). You also could be required to take RMDs if you inherited a retirement...

Reduce taxes on your investments with these year-end strategies

While tax consequences should never drive investment decisions, it’s critical that they be considered — especially by higher-income taxpayers, who may be facing the 39.6% short-term capital gains rate, the 20% long-term capital gains rate and the 3.8% net investment...

Miscellaneous Deductions – Things to know

There are certain miscellaneous costs that you pay during the year you may be able to deduct. Some examples include employee expenses and fees that you pay for tax advice. These deductions could lower your tax bill if you itemize. Below are facts the IRS wants you to...