Best tax breaks

These four strategies can save you some serious cash when Uncle Sam comes knocking.

1 of 4
For: Seniors
Strategy: Stop making retirement-plan withdrawals.

The IRS used to require retirees age 701/2 or older to take annual withdrawals from the money in their traditional IRAs or 401(k)s - and pay income tax on them. This rule forced a whole lot of people to sell at the worst possible time: when their investments had been mauled by the bear.

But a new law suspends those required minimum distributions for 2009. That lets your money keep growing tax-deferred if the market recovers, which could save you serious coin.

NEXT: For: Investors
Last updated April 17 2009: 8:38 AM ET
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