Description

About to retire? Over 72 and facing mandatory withdrawal rules? Just inherited money from a retirement plan?

Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important, it will show you how to avoid the stiff taxes and penalties that lurk in the fine print. It covers:

• tax strategies before and after retirement
• required distributions and how much you need to take
• penalties for taking money out early and how to avoid them
• how to divide a plan at divorce
• what happens to your retirement plan after your death, and
• different rules for taking money out of an inherited plan.

The 15th edition covers all of the latest changes, including:

• new start age for required distributions
• big changes to distribution rules for inherited retirement plans and IRAs
• new rules regarding the taxation and repayment of Covid-related distributions, and
• new life expectancy tables for mandatory distributions.