Retirement Plans: Taxing Distributions!

[KarenL]

Is it time to retire? You’ve worked your whole life - setting aside some of your hard-earned dollars to ensure a comfortable retirement. Now it’s time to reap the benefits of your savings!  Know your options and gather the knowledge to reduce taxes, eliminate surprises, and plan for the many enjoyable years ahead!  

Of course, please feel free to ask any questions about your unique retirement planning in our Community Retirement forum. There’s always a Champ, Expert, or other Community member happy to help!

Check out some of our most popular retirement help articles:

• Retirement Tax Tips - Want it all? Start here with an even greater list of resources!
• How does a retirement plan withdrawal affect my taxes? - Brief overview of taxing distributions.
• What is the required minimum distribution (RMD) once I reach age 72? - Important info here!
• An Early Withdrawal From Your 401(k): Understanding the Consequences - Which is better - a distribution or loan?
• What are the exceptions to the penalty for an early withdrawal from my 401(k)? Don’t pay a penalty if you don’t have to!
• When Does a Senior Citizen on Social Security Stop Filing Taxes? - A myth, some facts, and a tax-reducing strategy.
• Tax Strategies for an Early Retirement - If you’re not quite there yet, this one's for you.
• Tax Tips for Retirement - RMDs, Social Security, pensions, annuities, tax breaks & more!

BONUS:
If you have an immediate financial need and must dip into your retirement and investments earlier than planned, this article on Managing Your Retirement Account and Taxes During Economic Uncertainty can be a helpful guide for you.

If you need specific tax advice or have questions that aren't answered in the links above, please ask in our Taxes forum that best fits your needs!