Tax deductions you should avoid
Tax moves to make in April 2011

Some retirement distributions due today

Just a quick reminder to the older readers of the ol' blog: Today is the required minimum distribution, or RMD, deadline for some IRA owners.

No, it's not a perverse April Fool's tax joke.

If you turned 70½ last year and didn't take out this required amount from your retirement funds by last Dec. 31, you must do so by the following April 1 or face a stiff penalty.

You have a couple of options, such as rolling your RMD directly to a charity, or even converting your traditional IRA to a Roth.

But if you opt for one of these choices, time's a-wasting. So you best get to it.

No fooling.

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