Newman Asset Management Blog

As the year comes to a close, it is a good time to get with a quality CPA to review your tax situation to review any remaining steps to cover for 2009. One area that many may have forgotten about is that the required minimum distribution rules for IRA holders for 2009.

As reported and noted by many CPAs that we work with, the 2008 Worker Act provided for a one year suspension of the required minimum distribution rules, with the year being 2009. If you are one who is required to take a required minimum distribution, you need to check with your CPA to see if your can forgo the distribution this year if you do not need the money now.

There are of course certain rules and conditions to consider (…it is controlled by the government), so you need to make sure you work with a CPA familiar with retirement areas. For those needing a quality CPA contact, please drop Newman Asset Management a note at info@newmanassets.com and we will be happy to provide you some names of quality CPAs who work in this area.

Until next time…
Todd

Tags: 2008, CPA, IRA

This entry was posted on Tuesday, December 1st, 2009 at 11:10 am and is filed under IRA-LLC, Self-Directed IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.