You’ve just finished your year-end planning for your 2008 tax return. Now it’s time to give some thought to the 12 months ahead. What are the most important steps you can take in 2009 to improve your financial health and shed unwanted tax liabilities? H&R Block has created a Top 10 list of New “Tax” Year Resolutions to help you get in shape financially – and stay that way.

1. I will take charge of my finances. Take control of your financial future by developing a detailed understanding of your income and expenses and by establishing clear financial goals.
2. I will keep better records. When receipts get lost, it’s easy to miss out on deductions for charitable contributions, medical and educational expenses and business costs. This year, take a minute to develop a simple, fail-safe method for hanging onto to those annoying little slips of paper, or use H&R Block’s DeductionPro to take care of and track this nasty little chore.
3. I will save for retirement. Start now. It gets here sooner than you think. Not only will you be protecting your future, but you’ll enjoy tax benefits today.
4. I will review my W-4 withholding. Fine-tuning your payroll deduction gives you the opportunity to increase cash flow, reduce year-end tax liability or boost your refund. Think about your financial requirements and objectives and take command of your paycheck.
5. I will file my taxes electronically. Whether you do it yourself or rely on H&R Block’s experienced tax professionals, filing electronically speeds your refund and lessens the likelihood of an error. With do-it-yourself options like TaxCut software and TaxCut Online programs, you can take advantage of built-in questions, checklists and safeguards, and some programs even allow you to have your return reviewed by a tax professional.
6. I will know my tax rights. Because the IRS will allow taxpayers to amend returns filed in any of the prior three years, consider taking a Second Look. With Second Look, an H&R Block tax professional will check your past three tax returns to ensure that no deductions or credits were overlooked, the right filing status was claimed and the tax calculated correctly.
7. I will purchase a home. Buying a home can be one of the most positive and far-reaching financial decisions you will make. Not only are you building equity in an asset that typically increases in value, but you’ll reap a number of benefits and deductions at tax time.
8. I will start saving for my child's education. In 15 to 20 years, it will take an estimated $170,000 to $230,000 to finance your child’s college tuition and living expenses, depending on the type of school your child chooses to attend. So get started now. There are a wide range of college savings plans out there, and even a small regular contribution will grow and compound dramatically over time.
9. I will claim my education credits for classes. The federal government has created several important credits and deductions designed to help defray the cost of higher education. Talk to a tax or financial professional about how these options might help you.
10. I will deduct my student loan interest. Provided you fall within certain income guidelines, the IRS allows you to deduct the interest paid on any loan used exclusively to pay for education expenses (including room and board) for yourself, your spouse or a dependent.