Thursday, March 27, 2014

Many Retirees Face April 1 Deadline To Take Required Retirement Plan Distributions

WASHINGTON — The Internal Revenue Service today reminded taxpayers who turned 70½ during 2013 that in most cases they must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Tuesday, April 1, 2014.

The April 1 deadline applies to owners of traditional IRAs but not Roth IRAs. Normally, it also applies to participants in various workplace retirement plans, including 401(k), 403(b) and 457 plans.

The April 1 deadline only applies to the required distribution for the first year. For all subsequent years, the RMD must be made by Dec. 31. So, for example, a taxpayer who turned 70½ in 2013 and receives the first required payment on April 1, 2014 must still receive the second RMD by Dec. 31, 2014.

Affected taxpayers who turned 70½ during 2013 must figure the RMD for the first year using their life expectancy on Dec. 31, 2013 and their account balance on Dec. 31, 2012. The trustee reports the year-end account value to the IRA owner on Form 5498 in Box 5. Worksheets and life expectancy tables for making this computation can be found in the Appendices to Publication 590.

Saturday, March 8, 2014

Find NFS on Thumbtack!

Ever use Thumbtack to find services in your area? Well, now you can find us!

Check it out here

Wednesday, March 5, 2014

NFS Sponsors Mr. Dooley's Olde Irish Pub 5k/10k Run

Mr. Dooley's Olde Irish Pub 5k/10k Run
Olde Irish Pub Run Facebook Page
Saturday, March 29th, 2014
9:00 am start
  • WRENTHAM -- The 2nd annual Olde Irish Pub Run will be held on Saturday, March 29, at 9 a.m. from Mr. Dooley's Olde Irish Country Pub, 303 Shears St., Wrentham.
    The USATF-certified course loops around scenic country roads, and participants can choose a flat single loop (5K) or double loop (10K).
    Prizes will be awarded to the top three male and female finishers in various age categories. The first 100 participants who register by March 16 will receive free T-shirts. The post-race buffet will be provided by Mr. Dooley’s Olde Irish Country Pub.
    The registration fee is $35 or $40 the day of the race. Sign up online at Proceeds benefit King Philip Regional High School Track & Cross Country. Sponsored by NFS - Northeast Financial Strategies IncAnswer Is Fitness & Mr. Dooley's Olde Irish Pub.