14 Tax Changes Your Tax Preparer May Not Know About

FOR IMMEDIATE RELEASE

March 5, 2008

14 Tax Changes Your Tax Preparer May Not Know About

Dolans.com spotlights this tax season's new money-saving opportunities that even professional tax preparers might overlook

WASHINGTON (March 5, 2008) – People who trust professional tax preparers to make the most of this year’s tax changes are in for a rude awakening, according to money experts Ken and Daria Dolan. In fact, it could cost them dearly.

In their Special Report, "14 Powerful New Tax Changes You Must Know About Before Filing This Year!," the Dolans offer compelling evidence to back a simple piece of tax advice: expecting tax preparers to flag every tax-cutting opportunity is a surefire recipe for missed deductions, overlooked credits, and  even unallowable deductions that could lead to costly tax penalties.

“Most tax preparers attend tax class to learn how to fill out the forms, not how to save you money,” says Daria Dolan. “That’s up to you. And that’s why we prepared this Report for our readers at Dolans.com. The significant 2007 tax changes this year can save individuals and business owners hundreds if not thousands of dollars, if only they know about them. And needless to say, the IRS won’t pipe up on your behalf.”

Among the federal income tax changes explained in the Special Report are:

• A new private mortgage insurance (PMI) deduction for homeowners
• Higher personal and dependency exemptions
• Higher income limits for deductible IRAs and Roth IRAs
• Increased Section 179 expense deduction for business owners
• Bigger health care deductions
• Increased contribution limits for 401(k) plans
• Tax relief for foreclosures

The Report highlights frequently overlooked tax deductions involving student loan deduction, moving expenses, investment tax deductions, and charitable tax deductions, among others. It previews 10 important 2008 tax changes and also offers tips for audit-proofing a return.

Adds Ken Dolan, “The IRS will get its pound of flesh no matter what, but there’s no reason why anyone should pay the government a dime more than they legally owe. We want our readers to take advantage of every legitimate loophole, deduction, and tax credit they’re entitled to, so they can pay the bare-bones minimum with confidence.”

The Dolans’ "14 Powerful New Tax Changes You Must Know Before Filing This Year!" can be downloaded at http://www.dolans.com/freereport/14taxchanges/. Additional reports at the Dolans.com Tax Center include "Frequently Overlooked Deductions," "Six Tax Tips Every Homeowner Will Love," "Seven Simple Tax Moves for 2008" and "Making Your Deductions Airtight." These and others can be viewed at http://www.dolans.com/taxes/.

About Dolans.com: Launched in October 2007 by nationally syndicated radio hosts Ken and Daria Dolan and InvestorPlace Media, www.dolans.com offers expert practical advice on every personal finance matter imaginable. The Dolans bring a combined 40 years of proven expertise to the internet, and are known and trusted by millions of people thanks to their award-winning 20-year radio career. The Dolans have also hosted their own CNN television show and authored five personal finance books.

Contact: Dave Gilbert
dgilbert@phillips.com
301.279.4201 ext. 2090