Dear WSP Family & Friends,
If you are 72 or older, don’t forget to take your 2022 required minimum distribution (RMD) from your Individual Retirement Arrangement (IRA) by December 31!
This month’s challenge is to take your 2022 required minimum distribution (RMD) from your IRA.
Remember, the distribution taken from your IRA is taxed as current income. If you don’t need the money, consider donating the RMD to a qualified charity. This would allow you to receive a deduction that can offset the RMD’s tax liability.
If you need assistance or would like to discuss your 2022 RMD, please reply to this email or call our office today.