During your working years, contributing to tax-deferred retirement accounts (401(k), 403(b), traditional IRA, SEP IRA, SIMPLE IRA) provided the benefit of not paying income taxes. This allowed for more of your money to grow through compounding. But you cannot indefinitely defer paying taxes, which is where required minimum distributions (RMDs) come into ... Read more. The post How can I reduce my taxes when taking required minimum distributions? appeared first on Grand Life Financial.
