Tax-law changes can help retirees
March 16th, 2009
Retirees reeling from the impact of the stock market’s slide can take some solace from recent tax-law changes to help minimize their losses.
Taking advantage of the new options offers the chance to save on taxes in 2009.
"Even with the market having gone down, you have the ability to cut some of your losses by using tax breaks," said Mitch Franklin, assistant professor of accounting at Syracuse University. "That can make your investment losses maybe a little less painful."
The biggest break for seniors is the one-year suspension of the required minimum distribution (RMD) rule. The rule mandates that those age 70
Filed under: economics by Wolf