McCullough & Associates Blog


Aug 24, 2017

A QCD can remedy your RMD tax burden

Year-end is a critical time for retirees over age 70 ½ with qualified retirement accounts who are subject to required minimum distributions (RMDs). To avoid a hefty penalty (50 percent of the amount that should have been withdrawn), your RMD must be taken from your retirement account on an annual basis, by calendar year-end. (This differs from the deadline governing your first RMD, which must be…