Reported 1 day ago
As retirees assess their financial situations post-2024 tax year, it’s crucial to focus on strategic money moves to optimize their tax obligations for next year. Key considerations include managing retirement account distributions, such as required minimum distributions (RMDs), and exploring Roth conversions before the end of the year to lock in lower tax rates. Retirees are encouraged to plan ahead, make informed withdrawals, and possibly take advantage of charitable contributions without incurring additional tax liabilities. Maintaining proactive tax strategies can help maximize future financial well-being.
Source: YAHOO