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What's the Best Way to Lower RMD Taxes?

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If you have tax-deferred retirement accounts, you'll need to take required minimum distributions (RMDs) eventually. If not properly planned for, these distributions could take a tax toll on your retirement nest egg. So, how do you factor RMDs into your retirement plan? Check out these 6 strategies to help reduce distributions and potentially lower your tax bill. Learn more.

Consulting a financial advisor could help you determine a plan that factors RMDs and taxes into your overall retirement goals. SmartAsset developed a free quiz to match you with up to three vetted fiduciary advisors serving your area, each legally bound to act in your best interest. It only takes a few minutes, and in many cases you can be connected instantly with an advisor to consult. It's never too late to work towards a comfortable retirement.

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The information contained in this article is general and not specific to any individual's situation. The SmartAsset quiz matches you with up to 3 financial advisors to which you can compare and decide which to work with. You can consult a financial advisor about your finances and discuss RMDs and how they factor into your retirement. The SmartAsset quiz can't make a determination regarding your RMDs.

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SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire.SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user’s account by an Adviser or provide advice regarding specific investments.

We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.

SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.



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