Nevada Business in Business Services

Seniors can skip IRA withdrawals this year — or roll one back
Every year around this time, millions of seniors take money out of their individual retirement accounts, even if they don't need it to pay the bills. They do this because IRA owners who are 70½ or older are ordinarily required to withdraw a minimum amount from their IRAs every year or face stiff penalties. Many seniors who don't rely on their IRAs to pay living expenses use the money to buy holiday gifts. But if your kids insist they don't need another sweater, cross "IRA withdrawal" off your to-do list.
[ source ] http://www.usatoday.com : November 9, 2009 |  Comments: (0)

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