IRA Required Minimum Distribution...
 

....calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

IRA Required Minimum Distribution...
 

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.

IRA Required Minimum Distribution...
 

Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's
your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do
your taxes for you.

My brokerage sends me a notice with what I have to withdraw. Even simpler
than IRS. The scary part is what is the tax rate going to be in 5 years
with the gross overspending by the government.

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.

That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS’s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner’s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 13:43:27 -0500, wrote:

On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.

This appears top start around 3.7% at 70 and keeps increasing every
year to over 50% when you are 115

Table makes it easy. No percents to mess with.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 12:46:21 -0600, Califbill wrote:

Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's
your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do
your taxes for you.

My brokerage sends me a notice with what I have to withdraw. Even simpler
than IRS. The scary part is what is the tax rate going to be in 5 years
with the gross overspending by the government.

That works well if all your IRA funds are in one account.

IRA Required Minimum Distribution...
 

On 2/13/2014 2:01 PM, Poco Loco wrote:
On Thu, 13 Feb 2014 13:43:27 -0500, wrote:

On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.

This appears top start around 3.7% at 70 and keeps increasing every
year to over 50% when you are 115

Table makes it easy. No percents to mess with.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf


Muchus gracius

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 15:11:00 -0500, wrote:

On Thu, 13 Feb 2014 14:01:25 -0500, Poco Loco
wrote:

On Thu, 13 Feb 2014 13:43:27 -0500, wrote:

On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.

This appears top start around 3.7% at 70 and keeps increasing every
year to over 50% when you are 115

Table makes it easy. No percents to mess with.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

I just took the reciprocal of that number in the table to get the
percent so it made more sense.

When I get to 115, I'm gonna be really ****ed at that 53% bull****.

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 14:19:09 -0500, HanK wrote:

On 2/13/2014 2:01 PM, Poco Loco wrote:
On Thu, 13 Feb 2014 13:43:27 -0500, wrote:

On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.

This appears top start around 3.7% at 70 and keeps increasing every
year to over 50% when you are 115

Table makes it easy. No percents to mess with.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf


Muchus gracius


Cheonmaneyo chingu.

IRA Required Minimum Distribution...
 

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS’s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner’s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 20:26:28 -0500, Earl__ wrote:

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS’s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner’s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.

Pentagon Federal is paying 3% on 5 year CDs. But I'm going to give it to the kids. Let them pay the
taxes on the interest from now on.

IRA Required Minimum Distribution...
 

On 2/13/14, 11:02 AM, Poco Loco wrote:
On Thu, 13 Feb 2014 12:46:21 -0600, Califbill wrote:

Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's
your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do
your taxes for you.

My brokerage sends me a notice with what I have to withdraw. Even simpler
than IRS. The scary part is what is the tax rate going to be in 5 years
with the gross overspending by the government.

That works well if all your IRA funds are in one account.

I have 9 accounts counting the wifes. And the RMD is per account.

IRA Required Minimum Distribution...
 

On Thu, 13 Feb 2014 18:57:10 -0800, Bill McKee wrote:

On 2/13/14, 11:02 AM, Poco Loco wrote:
On Thu, 13 Feb 2014 12:46:21 -0600, Califbill wrote:

Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's
your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do
your taxes for you.

My brokerage sends me a notice with what I have to withdraw. Even simpler
than IRS. The scary part is what is the tax rate going to be in 5 years
with the gross overspending by the government.

That works well if all your IRA funds are in one account.

I have 9 accounts counting the wifes. And the RMD is per account.

It is 'per account' in that all 9 accounts must be included to determine the total RMD for the year.
But the distribution itself can be taken from only one of the accounts. In my case (four IRA
accounts), I'm taking the total distribution from the one IRA certificate which is drawing the least
interest. Becausea it is a RMD, I'm not penalized for the early withdrawal.

IRA Required Minimum Distribution...
 

In article , __ says...

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS?s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner?s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.

I hope you don't have all of your money invested in corporate bonds.

IRA Required Minimum Distribution...
 

On 2/14/14, 6:52 AM, BAR wrote:
In article , __ says...

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS?s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner?s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.

I hope you don't have all of your money invested in corporate bonds.

You are supposed to take from each, not just one. Easier for IRS to
keep track. What I was told.

IRA Required Minimum Distribution...
 

On Fri, 14 Feb 2014 11:45:11 -0800, Bill McKee wrote:

On 2/14/14, 6:52 AM, BAR wrote:
In article , __ says...

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS?s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner?s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.

I hope you don't have all of your money invested in corporate bonds.

You are supposed to take from each, not just one. Easier for IRS to
keep track. What I was told.

You were told improperly. The IRS has these big computers that do all the work. It's OK to have
several accounts and just take from one.

"Can an account owner just take a RMD from one account instead of separately from each account?

An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw
the total amount from one or more of the IRAs. Similarly, a 403(b) contract owner must calculate the
RMD separately for each 403(b) contract that he or she owns, but can take the total amount from one
or more of the 403(b) contracts.

However, RMDs required from other types of retirement plans, such as 401(k) and 457(b) plans have to
be taken separately from each of those plan accounts."

http://www.irs.gov/Retirement-Plans/...istributions#5

IRA Required Minimum Distribution...
 

Poco Loco wrote:
On Thu, 13 Feb 2014 20:26:28 -0500, Earl__ wrote:

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS’s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner’s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.
Pentagon Federal is paying 3% on 5 year CDs. But I'm going to give it to the kids. Let them pay the
taxes on the interest from now on.

GE offers similar, fixed rate, term deposits but not at 3%! I like this
plan because it keeps my cash available without penalty on a few day's
notice.

IRA Required Minimum Distribution...
 

BAR wrote:
In article , __ says...
Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS?s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner?s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.
I hope you don't have all of your money invested in corporate bonds.
They aren't corporate bonds and no, I have less than $100K in there. I
don't see GE defaulting anytime soon. This program is a smart way for a
large cap company to "borrow" money at below market rates. Interest
compounds daily, too!

IRA Required Minimum Distribution...
 

On Fri, 14 Feb 2014 22:26:21 -0500, Earl__ wrote:

Poco Loco wrote:
On Thu, 13 Feb 2014 20:26:28 -0500, Earl__ wrote:

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS’s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner’s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.
Pentagon Federal is paying 3% on 5 year CDs. But I'm going to give it to the kids. Let them pay the
taxes on the interest from now on.

GE offers similar, fixed rate, term deposits but not at 3%! I like this
plan because it keeps my cash available without penalty on a few day's
notice.

Well, Pentagon Fed lowered theirs to 2%. Now I feel badly.

IRA Required Minimum Distribution...
 

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they worried we will die with all that money in an IRA and they won't get their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA Required Minimum Distribution...
 

On 6/18/15 10:04 AM, wrote:
On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they worried we will die with all that money in an IRA and they won't get their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.


If the government had stayed out of the lives of several posters here,
they would have been in the ranks of the chronically unemployed.

IRA Required Minimum Distribution...
 

In article ,
says...

On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they worried we will die with all that money in an IRA and they won't get their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.


Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...

IRA Required Minimum Distribution...
 

In article ,
says...

On Thu, 18 Jun 2015 11:47:13 -0500, Boating All Out
wrote:

In article ,
says...

On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they worried we will die with all that money in an IRA and they won't get their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.


Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...

I am making virtually the same money in retirement with my pension and
SS as I was when I worked (20 years ago) and I haven't even started
drawing down my 401k and other investments.

So what? My income is about 36% of what is was when I was working.
And I'm living comfortably without drawing on my IRA lately.
But when I draw from it my tax rate is lower than when I was working.

I agree the tax cuts may have made rates lower than when you retired
but for how long?
When Listen to the democrats, there is no reason to assume these lower
tax rates will survive.

Doubt they'll be be raising my taxes. I'm low income.

IRA Required Minimum Distribution...
 

On Thu, 18 Jun 2015 13:30:24 -0400, wrote:

I am making virtually the same money in retirement with my pension and
SS as I was when I worked (20 years ago) and I haven't even started
drawing down my 401k and other investments.
I agree the tax cuts may have made rates lower than when you retired
but for how long?
When Listen to the democrats, there is no reason to assume these lower
tax rates will survive.

===

Absolutely. Since we actually worked for a living, have pensions,
benefits and modest investments, we clearly must be among the
"wealthy" that the democrats love to talk about.

On the other hand, those who have weaseled their way through life by
defaulting on loans, refusing to pay taxes and concealing assets, have
nothing to worry about. If they couldn't tax them then, how are they
going to tax them now?

IRA Required Minimum Distribution...
 

In article ,
says...

On Thu, 18 Jun 2015 13:43:45 -0500, Boating All Out
wrote:


Doubt they'll be be raising my taxes. I'm low income.

Sorry to hear that.


Don't be. My net worth is fine. I just don't "need" it.

If you factor in the fact that I am not paying FICA, I am doing better
than I was when I was working, before you adjust for inflation ... but
the tax tables don't do that either.

So you're doing better. Yet still complaining about taxes. Okee dokee.

IRA Required Minimum Distribution...
 

Boating All Out wrote:
In article ,
says...
On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.
Why can't the Gov't just stay the hell out of our lives? Are they worried we will die with all that money in an IRA and they won't get their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.
IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.

Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...


When did you retire, Kevin?

IRA Required Minimum Distribution...
 

On Thursday, February 13, 2014 at 8:51:25 PM UTC-5, John H. wrote:

Pentagon Federal is paying 3% on 5 year CDs. But I'm going to give it to the kids. Let them pay the
taxes on the interest from now on.

You would do tat, you JACKOFF.

IRA Required Minimum Distribution...
 

Boating All Out wrote:
In article ,
says...

On Thu, 18 Jun 2015 11:47:13 -0500, Boating All Out
wrote:

In article ,
says...

On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's
(not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and
that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns,
or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy
to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they
worried we will die with all that money in an IRA and they won't get
their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.


Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...

I am making virtually the same money in retirement with my pension and
SS as I was when I worked (20 years ago) and I haven't even started
drawing down my 401k and other investments.

So what? My income is about 36% of what is was when I was working.
And I'm living comfortably without drawing on my IRA lately.
But when I draw from it my tax rate is lower than when I was working.

I agree the tax cuts may have made rates lower than when you retired
but for how long?
When Listen to the democrats, there is no reason to assume these lower
tax rates will survive.

Doubt they'll be be raising my taxes. I'm low income.

You should have saved more and invested better. Less borrowing for boats
and cars.

IRA Required Minimum Distribution...
 

wrote:
On Thu, 18 Jun 2015 11:47:13 -0500, Boating All Out
wrote:

In article ,
says...

On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and
that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or
maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy
to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they
worried we will die with all that money in an IRA and they won't get
their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.


Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...

I am making virtually the same money in retirement with my pension and
SS as I was when I worked (20 years ago) and I haven't even started
drawing down my 401k and other investments.
I agree the tax cuts may have made rates lower than when you retired
but for how long?
When Listen to the democrats, there is no reason to assume these lower
tax rates will survive.

I have a higher income than when I retired. I am in to the RMD of my
retirement accounts. When you figure the tax on dividends, it is an
atrocious rate. I pay 20% now because the Dem's figured I needed to pay
more. But that money was already taxed at 39% corporate rate. So
basically, near 55% rate. Would be 59% but dividend was lowered because of
that corporate tax payment.

IRA Required Minimum Distribution...
 

wrote:
On Fri, 19 Jun 2015 01:58:04 -0500, Califbill
wrote:

wrote:
On Thu, 18 Jun 2015 11:47:13 -0500, Boating All Out
wrote:

In article ,
says...

On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and
that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or
maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy
to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they
worried we will die with all that money in an IRA and they won't get
their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.


Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...

I am making virtually the same money in retirement with my pension and
SS as I was when I worked (20 years ago) and I haven't even started
drawing down my 401k and other investments.
I agree the tax cuts may have made rates lower than when you retired
but for how long?
When Listen to the democrats, there is no reason to assume these lower
tax rates will survive.

I have a higher income than when I retired. I am in to the RMD of my
retirement accounts. When you figure the tax on dividends, it is an
atrocious rate. I pay 20% now because the Dem's figured I needed to pay
more. But that money was already taxed at 39% corporate rate. So
basically, near 55% rate. Would be 59% but dividend was lowered because of
that corporate tax payment.

Qualified dividends should be 15%. It is hard to figure that out for
most people because it is buried in the schedule D work sheet that is
unnecessarily cumbersome ... like the SS work sheet.
On the SS sheet, they might as well say "are you poor enough to eat
cat food? No, then add 85% of your SS to taxable income"

I was thinking the qualified dividends were same as long term Capitol gains
now. Tax program figures out the correct amount. Only one I have problem
with is LINN K1.

Bill

IRA Required Minimum Distribution...
 

On 6/19/2015 12:52 PM, wrote:
the democrats never saw a tax they didn't like.
I guess that is because most of them never invest or plan for the
future. They are counting on the rest of us to carry them.

You said a mouthful there buddy. If anyone doubts you, just have them
look up Harry Krause to get a perfect example of how needy and greedy
democrats are.
--

Respectfully submitted by Justan

Laugh of the day from Krause

"I'm not to blame anymore for the atmosphere in here.
I've been "born again" as a nice guy."