With a twenty-year horizon until retirement, she could invest in a rental property with a 15-year mortgage, which provides deductions. She would own the rental property outright around the time of her retirement. Then she would have two properties at retirement, giving her rental income without mortgage payment obligations.

David R. Bergmann

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If Progressive Nursing is a nurse-staffing service, she might be able to do this. If it is a bona fide employer-employee relationship that cannot be structured as a self-employment relationship and it has no employer-sponsored retirement plan, then she is stuck using IRAs and savings vehicles.

— David R. Bergmann

Believe it or not, failure to include W-2s is another big one.

— David R. Bergmann

She should make the highest allowable contribution. This year, the federal limit is $11,000, and it increases annually until it reaches $15,000 in 2005.

— David R. Bergmann

If you got a fat severance check at the end of the year, take a look and make sure you are in the same tax bracket.

— David R. Bergmann

Failure to sign the return is a big one.

— David R. Bergmann