With April 15th around the corner you may want to start working on your taxes as early as possible to avoid filing mistakes. According to an article from bankrate.com, the sooner the tax agency gets your return, the sooner it can process it and get your refund on its way. The following are several tax tips to keep in mind:

• Gather your records. Collect your W-2s, investment statements and other tax related documents.
• Collect social security numbers. For example, you will need your spouse’s, if you file jointly, and those of any dependents you claim.
• Consider electronic filing. If you use your computer to calculate taxes, you might want to file forms electronically.

An important tax tip is not to panic. When you start early you’ve got time to get answers and make sure you’re taking full advantage of every tax break for which you’re eligible.

And remember, April 15th is a great opportunity to contribute to your self-directed IRA for 2007. For more information about contributing to an IRA, please contact a self-directed Retirement Specialist at 1.888.ETC.IRAS (382.4727).

Filed under: Uncategorized on February 13th, 2008