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Erin Huffstetler

Still Time to Reduce Your 2007 Tax Bill

By , About.com GuideJanuary 11, 2008

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2007 may be over, but there's still time to reduce your 2007 tax bill. Sock away some money in a Traditional IRA, and deduct the contribution from your taxable income--up to $4,000 if you're 49 or younger and up to $4,500 if you're 50 or older. After all, it just isn't frugal to pay someone else when you could be paying yourself instead. Invest in your future, and enjoy the tax savings.

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