Year End Tax Tips for Tax Year 2007
In March of 2008, Kevin McCormally will be back on the broadcast with more "Tax Tips for Tax Year 2007."
Also in March, Kevin will conduct his online "Q&A," answering tax questions you submit via the NBR website.
The year is nearing its end, which means it's time for an early taste of "Tax Tips." NBR's tax guru, Kevin McCormally, editorial director of Kiplinger's Personal Finance, offers some pointers that could help you lighten your tax load come April.
Watch Kevin's tips during the broadcast the week of November 12th through the 16th. Then come here to review what he said and to explore any additional tax resources he mentioned.
Tip #1: Make the Most of Your Flex Plan
November 12, 2007
Kevin McCormally says there are ways to make sure you don't leave money in your flexible spending account.
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Tip #2: Beware the Coming Tsunami of Mutual Fund Distribution
November 13, 2007
Kevin McCormally on the headaches and opportunities that come with year-end mutual fund payouts.
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Tip #3: Supercharge the Tax Saving Power of Year-end Charitable Gifts
November 14, 2007
Kevin McCormally explains how using some smarts when you give to others can really give back to you come tax season.
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Tip #4: Last Chance Moves to Dance Around the "Kiddie Tax" Crackdown
November 15, 2007
Kevin McCormally tells you how to take advantage of changes in taxes that impact a child's investment income.
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Tip #5: A Generous Way to Avoid Taxes on Required IRA Distributions
November 16, 2007
Kevin McCormally says you'd be a wise taxpayer if you consider directing some of your required IRA distributions to charities.
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A list of general tax resources as well as links to any websites Kevin McCormally mentions in his tips.
Internal Revenue Service (IRS)
The IRS is a division of the U.S. Department of Treasury. The IRS collects taxes and enforces tax law. Among other things, the IRS website contains tax forms and a system for filing taxes online.
Kiplinger's Personal Finance
Kevin McCormally is editorial director of Kiplinger's Personal Finance. He specializes in covering federal and state income taxes and retirement and estate planning.
*If you click these links, you will be taken off the NBR website on PBS.org. NBR has no affiliation with these sites.
