Greetings,

Don't forget that if you turned 70-1/2 last year, April 1st is the last day to take a required minimum distribution from your retirement account without penalty.

Also, there is a great new health savings account available to those who have high-deductible medical insurance plans. It works similar to an IRA account. Contributions are tax-deductible whether you itemize or not.

For more info on both of these check out the tax tips at http://www.llhcpa.com

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Do you need more time to file your 2003 tax return?

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Thursday, April 15 is the deadline for filing your 2003 income tax return. If it looks as though you can't file on time, don't forget that a Form 4868 must be filed with the IRS to give you until August 16 to file.

Even if you have no problem filing by April 15, getting an extension can be a smart tax move in certain situations. An extension will give you more time to make certain pension contributions for 2003. Also, the confusion over the new dividend tax rules may make waiting to file your return an ultimate time-saver. Many financial firms have made it clear that they could be sending investors revised Form 1099s as late as April.

For more information or assistance, please contact my office.

Till next time,

Linda