|
|
Newsletter
| Volume XXIV Number 2 |
February 2008 |
|
TAXPAYER REBATES COMING!.........................................
Congress has passed the Economic Stimulus Act of 2008, which will give millions of taxpayers an advance credit payment toward their 2008 income tax. In order to be eligible to receive this rebate, you must file a 2007 income tax return. This is true even if you are not normally required to file, due to low income. The IRS will calculate the amount of your rebate after your 2007 tax return is filed and processed. Certain higher income taxpayers won't be eligible for this payment.
ANNUAL CHECK-UP..........................................................
Buy and hold strategies, or long-term investing, do not mean simply ignoring your investments. Remember to give your portfolio regular checkups, since your investment needs or life situation will definitely change over time. Even in retirement, portfolios should contain investments that permit earnings to keep pace with inflation. Take advantage of this year’s tax time, when all of your documents are readily available, to consult your advisor and give your portfolio a check-up.
IRA CONTRIBUTIONS.................................................
Your 2007 traditional or Roth IRA retirement contributions can actually be made until April 15, 2008. If you are under the age of 50, you may contribute $4,000. Taxpayers over the age of 50 may contribute $5,000 to their IRA accounts. To confirm your eligibility to contribute to your IRA account, always consult your tax advisor prior to making your contribution. Remember to let your financial advisor know if it is a prior year contribution, and mark it as such on your check.
Conover Securities
Certified Financial Planners, registered with the International Board of Certified Financial Planners
Investment Adviser, registered with
the Securities and Exchange Commission
Member of the National Association
of Securities Dealers and SIPC | |
