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Financial Perspectives – Spring 2008

Your 2007 Tax Return: Time’s Running Out

If you haven’t filed your taxes yet, you can probably feel the deadline looming. But you can also benefit from the last minute scramble: You have until you file to make your 2007 IRA contribution.

For 2007, the maximum contribution is $4,000, with those 50 and over able to add an extra $1,000 to that amount. And remember, you don’t have to wait to make your 2008 contribution ... the earlier you do so, the more you can benefit from compounding returns.

TAX DEADLINES FOR 2008

April 15

Extension filing – which delays the paperwork, but not taxes owed – until October 15.

First 2008 estimated payment for quarterly taxpayers.

Reporting 2007 cash wage payments of $1,500 or more to a household employee.

June 16

Filing deadline for citizens or resident aliens living, working or on military duty outside the United States and puerto Rico.

Second quarter estimated taxes.

September 17

Third quarter estimated taxes.

October 15

Filing deadline for those who received extensions.

Raymond James & Associates and Raymond James Financial Services are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF).

The information contained in this newsletter has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. We may, from time to time, have a position in the securities mentioned and may buy or sell such securities in the course of regular business.

Before making an investment decision, always consult with your financial advisor. Articles in this publication are presented to help broaden your perspective on investment opportunities and the investment process. Whether a particular subject is applicable to your situation or not should be determined by you and your financial advisor based on your financial objectives, time horizon, risk tolerance and current portfolio structure. There is no assurance that the trends mentioned will continue in the future. For additional information about topics in this edition of Financial Perspectives, please contact your financial advisor today. Thank you.

 

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Raymond James & Associates, Inc. member New York Stock Exchange / SIPC and Raymond James Financial Services, Inc. member FINRA / SIPC are subsidiaries of Raymond James Financial, Inc.