Kane & Company, Certified Public Accountants And Advisors

As a follow-up to last week's podcast on tax tips for 2010, this podcast highlights a few important tax changes that go into effect in 2010. These changes result from various laws that were enacted and other guidance issued over the past few years. The required minimum distributions (RMDs) return. Required minimum distributions are annual distributions from traditional individual retirement accounts and qualified plans that must begin by the year you reach age 70 1/2. These required distributions for calendar year 2009 were waived. However, you must begin these minimum distributions again in 2010.