Is Your Birthday between 7-1-46 and 6-30-47? If so you have an important decision! RMD – Required Minimum Distribution – Delay or Not?

According to current law, the IRS mandates RMD’s (Required Minimum Distributions) from your qualified account by April 1 of the year following age 70.5.

RMD Delay First YearUncle Sam

Given the above IRS requirement, it is possible to delay your first RMD until April 1 of the following year, once you reach the 70.5 threshold.

If your Birthday as of the year 2017 is between 7-1-46 and 6-30-47 YOU CAN delay your initial mandated RMD, however by doing this, you will have two RMD’s in 2018 tax year.

  • Higher/Lower Income
  • Bigger/Smaller Expenses
  • More/Less Donations

These are a few items to consider when delaying or taking that initial RMD.

Feel free to reach out to us if you have any questions!

After this decision … the IRS makes it easy, each year take your RMD and pay the taxes, only on the first RMD, is the delay allowed!

Have a great “Smart Tax Delay” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

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