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Time is
shorter than you think to
get your tax return in
for 2007. This
year, your tax return has
a lot to do with your
economic stimulus check
so you should not delay.
Here
are some hints from the
Harris Financial
Corporation.
Always remember to check
with a qualified tax
professional when filling
out your tax return to
make sure you have taken
the proper steps.
Harris
Helpful Hints
 Taking
Time to Tackle your Taxes
CHICAGO,
March 25
/PRNewswire/
-- As April 15, 2008,
draws near, there is
still time to take some
simple steps to help
alleviate the stress of
tax season and ensure you
are taking advantage of
the resources available
to you.
1. A win-win
situation. Visit your
financial institution and
ask about the Traditional
IRA. It is an excellent
method to save for
retirement and possibly
reduce current taxes. You
have until April 15,
2008, to begin
contributing, and
whatever you contribute
toward your IRA is
subtracted from your
yearly income, thereby
lowering your taxable
income.
2. Take a trip down
memory lane. While 2007
may seem like a long time
ago, now is the time to
look back because that
spring cleaning project
that ended with three
trips to the local
donation center or the
unexpected need for a new
furnace could pay off as
you file your tax
returns.
-- Charitable
Donations: Clothing and
household goods in good
used condition that were
donated in 2007 may be
eligible to qualify for a
deduction.
-- Energy Credits:
If you made
energy-efficient home
improvements in 2007,
such as new doors,
windows or certain
furnaces, you may be
eligible for an energy
credit.
-- Education
Credits: If you or your
children are higher
education students, you
may qualify for the Hope
Credit or the Lifetime
Learning Credit.
Visit the
IRS
website
for more 2008 tax tips on
various deductions and
credits that may apply to
you and your family.
3. Help is on the way.
There are many tools,
resources and tips out
there to help make tax
time less stressful and
more rewarding. Whether
you look to your
financial planner,
accountant, local tax
preparation company or
the IRS, help is
available.
Harris
has been helping its
customers and the
communities it serves for
over 125 years and has
more than 230
full-service locations
throughout Chicagoland
and Indiana, and more
than 580 ATMs.
About
Harris
Harris is
an integrated financial
service organization
providing more than 1
million personal,
business and corporate
clients with banking,
lending, investing and
wealth management
solutions. The
organization is a member
of the BMO Financial
Group (NYSE, TSX: BMO),
which also provides
corporate and investment
banking services in the
U.S. under the
BMO
Capital Markets
name.
Disclaimer
This
press release is for
informational purposes
only and is not presented
as advice or
recommendation of any
particular strategy.
Opinions expressed
reflect judgment current
as of publication and are
subject to change.
United States
Department of Treasury
Regulation Circular 230
requires that we notify
you that with respect to
any statements regarding
tax matters made herein,
including any
attachments, (1) nothing
herein was intended or
written to be used, and
cannot be used by you, to
avoid tax penalties; and
(2) this document is
written to support the
promotion or marketing of
the transaction(s) or
matter(s) addressed
herein. Further, to the
extent any tax statement
or tax advice is made
herein, Harris N.A. and
its affiliates,
including, but not
limited, to Harris myCFO
Inc. (collectively,
"Harris") do not and will
not impose any limitation
on disclosure of the tax
treatment or tax
structure of any
transactions to which
such tax statement or tax
advice relates. Harris
does not provide legal
advice to clients. You
should review your
particular circumstances
with your independent
legal and tax advisors.
Source:
Harris Bank
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