There have been several major tax law changes over the past few years with staggered effective dates. These laws have significantly changed the way you may want to consider your financial situation, especially retirement planning. Here is some information that you will find helpful:

• The Income Tax Rates for 2008
• 2008 Standard Deduction for single and married filers
• Taxation of Dividends and Long Term Capital Gains
• Estate Taxes
• Regular IRA and Roth IRA Contribution Limits
• 401(k) Retirement Plan Contribution Limits
• and more.

The almost-annual changes to the income tax laws have created confusion about Individual Retirement Accounts (IRAs). This confusion has caused many people to ignore one of the most powerful tools available to help them secure a solid financial future -- the IRA.

Even with all the changes, IRAs can and should be a key part of the foundation of most people's retirement planning efforts. Read on for some of the facts you should know to make fully informed IRA decisions.

Your personal savings is one of the four building blocks of a financially secure retirement along with your company's retirement plan, your IRA and Social Security. The amounts you will receive from those last three sources are somewhat out of your control. Social Security benefits are based on your wages, your IRA contributions are limited, and your employer's retirement plan may limit what you can contribute. However, you have complete control over your personal savings

Determining exactly how much you need to save for retirement can be complicated. To do the perfect calculation, you need to know your level of expenses during retirement, your future tax rates, the future returns on your assets, and ultimately how long you are going to live. With all these uncertainties, the thought of doing the calculation can be daunting.

Check out the worksheet and calculator and a simple idea that may give you some motivation to do something you know you should be doing - saving more.

It pays to get out of the blocks early when you are saving for retirement. This year Americans will be permitted to contribute more than ever to their individual retirement accounts. In fact, the maximum contribution amount for some individuals will be three times more than it was just a few years ago.

This is a great opportunity for you whether you are just starting to save for retirement or the expenses of raising a family have sidetracked you from your original retirement savings goals. A $5,000 contribution could be just what you need to get your IRA back on track.

Come in early and contribute the maximum amount for the 2008 tax year! The earlier you put your contribution in, the longer your money has to work for you. There has never been a better time for you to pick up the pace and reach your financial goals.