PlantTo Save Money On Taxes (NAPS)—Speakin public, go to the dentist, balance a checkbook, clean the house and go on a job interview: all of these traditionally stressful undertakings are what many Americans would rather do than pay taxes, according to the WingspanBank.com Financial Index. In addition, the survey found that 15 million Americans will procrastinate until the last day to file tax returns and that they plan on spending over seven anda half hours preparing their returns— that’s an entire night’s sleep for most people. Accordingto financial expert Dr. Judith Briles, the information superhighway may help speed up the entire tax process. Briles rec- ommends joining the 59 million taxpayers who plan to use the Internet help them with their taxes, many of whom are choosing Memorable moments. i you have any lifestyle changes this year? A wedding, divorce, new baby, new home purchase? These events could change your filing and offer new options such as joint filing or dependent deductions. Do the math. Take a min- ute to double check your math, re-check tax charts and, if you're filing electronically, do a trial run with your tax software program. Get a receipt. If you file online, keep a copy of your electronic confirmation number. If you are not using a computer to file, send your completed tax forms via certified or registered mail. Planning For Your Finances In 2001 Tap in, click on. Many online banking sites are compati- to use online tax programs and software such as Quicken TurboTax for the Web. The program can makeit easy to file both state and ble with financial software and WingspanBank.com. For more information on this special offer visit www. WingspanBank.com/ your withholdings. If you have federal income taxes andis offered free to customersof the online bank freeturbotax. “IT used the service to file my taxes online,” says Ayishah Williams, customer of the virtual bank and memberof the iBoard of Directors. “I saved a lot of money by not having to pay an accountant and it was quick and easy.” In addition to using the Internet to file taxes, WingspanBank.com offers the following tips for the can makeit easy to keep finances organized. The sites can makeit simple to track expenses and income sources. Dollars and sense. Review been receiving large returns or owing significant amounts, change your exemptions andredirect your funds. IRA’s the way. Consider contributing to an Individual Retirement Account (IRA). You may be able to deduct the contribution from yourtax bill. In addi- tion, the money kept in an IRA will grow tax-free until with- drawals are made. Flex your dollars. Consider 2000 and 2001 tax seasons: Filing This Season Account (FSA) at work. With an cancelled checks. Three’s a charm. Check the ing costs. The FSA amount withheld is not taxed as income and Get it together. Start organizing by gathering your paperwork—W-2s, 1099s, receipts and past three years returns for the deductions you claimed. You may be able to take similar deductions this year. opening a Flexible Spending FSA, you can have a portion of your salary withheld for things like medical, childcare or commutyou can use it to pay for designated expenses. For more information visit www.WingspanBank.com.
