NEW for 2007 ... PMI Deduction - You may be able to deduct your Private Mortgage Insurance on your Schedule A along with your mortgage interest.

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RESIDENTIAL ENERGY Credits - You may be able to take the two new residential energy credits if you made energy saving improvements to your home in 2006.

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ALTERNATIVE MOTOR Vehicle credit - Includes fuel cell, advanced lean-burn, hybrid and alternative fuel vehicles placed in service after 2005.

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ALTERNATIVE FUEL Vehicle refueling property credit - 30% of cost of property placed in service after 2005. Maximum credit is $1,000 for each property.

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IRA CONTRIBUTION limits raised to $4,000 and raised to $5,000 for taxpayers age 50 or older at the end of the year.

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SPLIT REFUND Option - Refunds can be split among up to 3 deposit accounts. This is a great tool for those taxpayers funding their IRA's with a tax refund.

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• FASTAX is always willing to answer your tax questions providing they do not involve a great deal of research. You can reach us at:

(252) 633-6430

(252) 633-9330

or

(252) 633-4289 fax

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