President George W. Bush signed the Energy Independence and Security Act of 2007 into law on December 19, 2007. It is designed to improve vehicle fuel economy, reduce harmful emissions and lessen U.S. dependence on oil. It also contains two tax provisions. A variety of businesses are likely to benefit, including certain auto makers, farmers, appliance manufacturers and construction companies. For the basics of the new law, click "Full Article."

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Here are some important tax figures for the upcoming year, including the Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and more. Copy this chart and keep it handy to assist you in planning for 2008.

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Who has access to the information on your tax return? In two developments, the IRS began an initiative to share more information with state governments, and announced new rules that limit what tax preparers can do with the facts and figures that appear on tax returns. Click "Full Article" for the details and what they might mean to you.
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  Business Tax

Like to exercise? Click "Full Article" to learn about a healthy tax-free fringe benefit your company can provide to all employees — or just a chosen few.
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  Personal Tax

Do your children or grandchildren work part-time after school and during the summer? Click "Full Article" for a smart family plan that can help industrious kids save money for the future -- and save a bundle on taxes.
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