Year-End Tax Planning: RMD Rules, Charitable Strategies & Estate Planning

Missing your Required Minimum Distribution (RMD) can cost you a 25% penalty—plus you still owe taxes on the amount. In this episode, Bill Kearney and John Foard, CFP® break down critical year-end tax planning strategies including RMD rules, charitable giving options, old 401(k) cleanup, and estate planning updates.

Key Timestamps:

00:29 - The #1 RMD mistake: Don't miss your distribution (25% penalty)
01:22 - Can the IRS reduce the penalty? (The 10% relief option)
04:13 - How to reduce RMDs before they start (Roth conversions)
09:44 - Cleaning up old 401(k) accounts for year-end
11:57 - Charitable giving strategies: QCDs and donor-advised funds
16:35 - Why your advisor isn't responsible for taking your RMD
17:46 - Year-end estate planning audit: Wills, trusts, beneficiaries
21:14 - The 10-year rule for inherited IRAs explained
22:55 - Real example: $350K life insurance policy with minor children

📞 Need help with year-end tax planning? Call us at 704-469-0200 or visit https://crownadvisorgroup.com/

Crown Advisors helps retirees navigate complex tax planning, RMD strategies, and estate planning to minimize tax burdens and maximize retirement success.

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