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The Latest News from Robert
Good Morning Friends,
December 2021...
If you are 72 years old or older in 2021, you are REQUIRED to withdraw a certain percentage from your IRA, 401k, 403b, and KEOH plans. I am sure you know this if you are a veteran of these withdrawals.
This is just a friendly reminder to take a second look to see if the right amount has been withdrawn and sent to you.
If you need help with figuring the right amount to withdraw (it varies every year) please call me or call the company that is the custodian of your qualified plan.
The simplest idea is to have your plan set up an automatic withdrawal for the correct amount and send it every November. Then if they mess up, the penalty will be on them.
Remember, the penalty for under withdrawal is 50%. That could really hurt.
I hope all of you had a great “turkey day.” We sure did. If you have a friend or relative who is 72+ and they need some help along those lines or needs some help with end-or-the-year tax planning, please have them call me. The consultation is absolutely free. My 800 number is (800) 466-5899. I welcome your or their call.
Have A Great Day!
