Deadlines for Year End Tax Planning

We want to make you aware of several approaching year-end deadlines with potential tax implications for 2015.

Deadlines for Required Minimum Distributions (RMDs)

Investors who are 70½ or older must take an RMD from their IRA and/or their QRP (Qualified Retirement Plan) for the 2015 tax year. All RMDs must be withdrawn by December 31, 2015, with the exception of RMDs for clients who turned or will turn 70½ during this calendar year; these investors may defer their first distribution until April 1, 2016.

Deadlines for Roth IRA Conversions

Investors wishing to process a Roth IRA conversion have until December 31, 2015 to do so for the 2015 tax year.

Establishing a 2015 QRP

Qualified Retirement Plans for 2015 must be established by December 31, 2015.

Apex offers tax advice, including income tax planning and projection. Feel free to reach out to us if we can help you in any way.