Last Minute Tax Tips

Yes, I do taxes for a living. Here’s a few last minute tips for you procrastinators out there.

• Deadline is April 17 not April 16. Quirk in law gives you one extra day.
  
• Request an extension if you still need one. You can get an automatic six month extension to October 15 by filing Form 4868. Do it by the April 17 deadline.
  

Deductions

• You can still do an IRA for last year. You need to do it by the deadline, though. The limit is $4,000. If you own a company you have more options, like a profit sharing plan.
  
• Don’t forget your auto mileage deduction. For 2006 the rate is 44.5 cents per mile for business. This can really add up.
  
• If you owe money, try to pay as much of it as possible. If you can’t, you may call the IRS and request a payment plan.
  

And if you still need help, get hold of me through my business web site.

Okay, that last sentence was a blatant advertisement. (Grin!)

Happy taxes!