B4-U-BUY(tm) FYI - By April 15th it will be too late to save on your taxes

By April 15th it will be too late to save on your taxes

Tax planning is a year round task that can be made easier with the proper information. The following tips from The Ernst & Young Tax Saver's Guide 1997 (John Wiley & Sons, $10.95) are just some ways you can save money on taxes.

Replace personal debt with mortgage debt to the extent possible. Interest expense on mortgage loans is-subject to some limitations-deductible; personal or consumer interest is not.
If you are self-employed you can deduct 30 percent of your health insurance premiums directly from self-employment income rather than as a medical deduction.
Fund your IRA or Keogh plan early in the year. Compounding will make your money grow faster than if you wait until the last minute. Also, contribute the maximum to your 401(k) and start early. If you wait too long, you may not be able to contribute the full amount because of limitations.

Keep these tips in mind and you may reduce your tax bite. The Guide is available at bookstores or by calling 800-225-5945.(NAPSI)

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