Return to Virginia Business - January 2003

Planning Ahead

The holidays are over, the new year begun and you may be feeling a bit of the post-holidays slump. Cheer up: There is another special day just ‘round the corner that many people have highlighted on their calendars — April 15.

Sure April may seem like a long way off now, but it’s not a bad idea to start thinking about the tax season. According to IHateFinancialPlanning.com, you’ll be glad you did. The financial planning Web site, tailored to those who perpetually procrastinate their personal financial planning, points out that many folks are eligible for deductions that they don’t even know about, including:

• Interest on college loans
• License tags for your car
• Accounting fees for tax preparation
• Losses from casualty or theft
• Costs associated with looking for a new job in your present occupation, including fees for resume preparation and employment outplacement
agencies
• Educational expenses to the extent required by law or your employer, or needed to maintain or improve your skills
• Dues for labor unions
• Protective clothing required at work
• Subscriptions to profes- sional journals

Data: ©1996-2002, ARA Content

Return to Virginia Business - January 2003