Don't ignore the impact of taxes on your investments. While taxes should not drive your investment strategy, understanding how taxes affect your earnings will help you minimize taxes and maximize your return. Some things to consider:
If you are age 70½ or older, and you have an IRA, 401(k) or other tax-deferred retirement account, government regulations require you to take out a minimum amount of that account each year.
ALL OF THE REQUIRED DISTRIBUTION IS TAXABLE, BUT HERE IS HOW YOU CAN AVOID PAYING TAXES ON ALL OR PART OF IT.
Following are the BASICS of capital gains as they pertain to the investments we typically encounter. You should consult with your tax professional for your personal situation.
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