Martin Schamis | Source | Head of Wealth Planning at Janney Montgomery Scott
Martin Schamis
Head of Wealth Planning at Janney Montgomery Scott
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Janney Montgomery Scott
Head of Wealth Planning
started Oct 2015
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Turned 70½ last year? Don't miss this key April 1 deadline
If you put off taking a required minimum distribution from your IRA or your 401(k) in 2018, you have just a few days to get your act together. Miss this deadline and you'll face a 50 percent tax. Here's what you should know.
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Once those RMDs begin, you don’t really have much control over whether you take them or not. There isn’t a lot you can do to lessen the tax hit that might be associated.
