Problem: Is there anything to do now to ease the tax headache in 11 months?

        Strategy: Yes: Check your withholding, keep good records and make retirement plan contributions.

        The National Association of Enrolled Agents, a group of tax practitioner specialists, says that now is the perfect time to start planning for tax season 2002.

        • Check withholding. If you had a balance due, increase your withholding amount. If you received a large refund, you gave Uncle Sam an interest-free loan, so consider decreasing your withholding. Changes in withholding are done by completing a new W-4 form to give to your employer.

        • Keep good records. This will allow you to take deductions that you deserve, and if you are ever audited, you will have them to prove your case. The IRS recommends keeping documents that prove an item of income or deduction on your return at least until the statute of limitations expires for that return. Usually, this is three years from the date the return was due or filed, or two years from the date the tax was paid, whichever is later. If you are an employer, you must keep all your employment tax records for at least four years after the tax is due or paid, whichever is later.

        • Make contributions. Make your traditional or Roth IRA contributions as early in the year as you can since all the earnings are tax deferred. If you are required to make a withdrawal, plan it for late in the year, rather than withdrawing it early and putting it into a taxable account for the remainder of the year. If you are eligible to participate in a salary reduction plan such as a 401(k), 403(b), 457 or SIMPLE IRA, maximize your contributions as much as possible to the current deferral limits.

Union cautions pilots about 'no' vote
DHL has big plans for hub
Building will automate air-freight operation
P&G nurtures pharmaceuticals
Hendricks quits Baldwin board
Portman bill won't help many
Prepare now for tax day
Stock of the week
The Week Ahead
Consumers spend; but how long?
Fewer saving for retirement
Tristate Summary
What's the Buzz?
Get ready to play on cell phone
Some healthy livestock killed