Harvey Realty, Inc.

Here's a few changes for 2008:

1. You can contribute $5,000 ($6,000 if you're over 50) to your IRA in 2008 vs $4,000 ($5,000 if over 50) for 2007. For 2007 you have until April 15th to add money to your traditional or Roth IRA.

2. Married taxpayers with joint income up to $85,000 will be able to deduct IRA contributions if they file jointly - individuals up to $53,000 in income.

3. If you don't itemize, you're standard deducttion will be $10,900 as married filing jointly and $5,450 if single.

4. Joint filers whose taxible income doesn't exceed $65,100 don't have to pay capital gains they realilze in 2008 - for single filers with income not exceeding $32,550 the same applies.

5. Some hybrid cars can still save you taxes but many popular models have been phased out.

6. The maximum amount of earnings subject to Social Security tax increases to $102,000 in 2008.