You can save money on your 2007 taxes by taking advantage of these opportunities throughout the year. By Kevin McCormally, Chief Content Officer April 18, 2007 Editor's note: This is the transcript of Kiplinger Editorial Director Kevin McCormally's commentary on the April 17 broadcast of Nightly Business Report.With the 2006 tax deadline just a few hours away, it's time to start working on 2007. I want to quickly tick off a few of the many opportunities you may have in the months ahead to cut our own taxes: Take full advantage of your retirement plan at work and fund an IRA if you can. If you're 70#189; or older, remember that this is the last year you can take your required minimum distribution from an IRA tax-free ... if you give it directly to charity. If you buy a home in 2007, there's a one-time-only chance to deduct the cost of private mortgage insurance. Advertisement If you plan a significant charitable contribution, be sure you understand how giving appreciated securities instead of cash can be a win/win situation for both you and the charity. If you're a landlord looking to upgrade, consider whether a tax-free swap makes more sense than a taxable sale and a subsequent purchase. Congress has crammed the tax law with opportunities to save money. It's up to you take advantage of them. And, one last point: If like most taxpayers you got a fat refund this spring, march into your company's payroll office tomorrow and fill out a new W-4 form. Reducing the amount that's withheld from your paychecks will let you get next year's refund in installments ... starting next pay day. See Kevin's previous tip.