|
|
|
|
Slash your tax bill
New rules and a new President have changed the tax game. Use these strategies to save on your 2008 bill - and reap even bigger savings in the years to come.
7. 2009 and beyond: Don't tap retirement accounts
Normally, the year you turn 70 1/2, you must make the minimum IRS-required withdrawals from your traditional IRA and 401(k). (See IRS Publication 590 for details on how much you need to take.) But for this year only, the required minimum distributions for these accounts has been waived. If you can afford to defer your withdrawals, you'll give the account a chance to rebound while reducing your taxable income, says James Lange, a C.P.A. and author of Retire Secure!: Pay Taxes Later.
NEXT: 2009 and beyond: Maximize tax breaks
NEXT: 2009 and beyond: Maximize tax breaks
Last updated March 02 2009: 9:16 AM ET
RSSMore Galleries
In a stay-put real estate market, some of the best gifts are home-improvement tools. More
Looking for the perfect present for that tech-savvy someone in your life? Try one of these affordable gadgets. More
Anesthesiologists take home a median $292,000 salary annually. What other great careers from Money and PayScale.com's list of Best Jobs in America offer big paychecks? More
Special Offer
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Intraday data is at least 20-minutes delayed. All times are ET. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Morningstar, Inc.. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
