Understanding the Changing RMD Landscape in 2020
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Q. I understand that the rules for Required Minimum Distributions (RMDs) from workplace retirement plans and individual retirement accounts have changed this year due to the SECURE Act earlier in the year and the recently enacted CARES Act. This brings several questions to mind. For instance, should I take advantage of the 2020 RMD waiver? What happens if someone already
took an RMD in 2020? Would a 2021 RMD be based on Dec 31, 2020 balances? Thanks so much for clarifying these things for me.
Critter Corner: Charitable Giving During the 2020 Tax Season
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We want to support our favorite local charities and small businesses as much as we can while they are reviving themselves from all the changes in their business environments. We would like to give now, but are wondering if the CARES Act or the new landscape of Required Minimum Distributions change anything. Please let us know. Thanks so much for your
help!
Order Books by Evan Farr, 4-Time Best-Selling Author
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Certified Elder Law Attorney and Medicaid Asset Protection Expert, Evan H. Farr, CELA, has written four best-selling books in the field of elder law. For more information and to order, click here.
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