And you thought that tax season was officially over?

 Well, both yes and no. It's over for 2007, but is on for 2008.The following are some 2008 tax law changes that knowing about now could save you money next year.  (1) The standard mileage deduction for businesses increases to 50.5 cents per mile, but the mileage for moving or medical falls to 19 cents per mile. (2) Top contribution to an IRA is $6,000, if you're over 50 years old, or $5,000.00 if you're younger. (3)No tax on some capital gains in 2008, if you make less than $65,000 as a couple or $32,550 as a single filer.  Everyone else will pay 15%. I think this break is due to expire in 2010, so be sure to check with your tax advisor to find out exclusions. (I think real estate is excluded from this, but please check). (4) Sage advice upon the death of a spouse is not to make major decisions for at least a year, which includes selling your home. However, a new law takes effect this year which allows you to take an exclusion of $500,000.00 in gain on the sale of your principal residence, previously allowed only to couples, for up to two years after the death of your spouse. (5) If you're thinking of purchasing a hybrid car to cut down on gas and your "carbon footprint" and think you'll catch a tax break, as in previous years, you need to  check out the 2008 Model Year Hybrid List at www.irs.gov before you buy, since some cars, including the Prius have lost their tax credits. (As always, if you need clarification, please talk to your tax advisor.)