Did you hear the recent story about the guy who thought it would be funny to pretend to fall off a bridge . and then actually fell off the bridge? It's sad, but true. As the old saying goes, "combining alcohol, lack of sleep, and pretend stunts from tall structures is definitely not smart".

What has that got to do with your taxes? Well, check out this new tax break for 2009. Normally, once an individual turns 70 ½, they must make minimum IRS-required withdrawals from an IRA or 401(k). But this year, the required minimum distributions have been waived. For those who can afford it, it is smart to forego the distribution, give the account a chance to rebound, and reduce taxable income.

And, for those who have questions about the tax ramifications of retirement account distributions, it is smart to call your CPA today!