Thursday, December 16, 2010

From the Tax God: Last-Minute Moves to Reduce Your Taxes

From MSN Money.

"Your tax planning for your 2010 return should have started last December. It's more complicated this year because tax laws have changed again. They always do.

Still, there are moves you can and should make before Dec. 31 to trim your 2010 tax bill.

Let's start with the simple things:

FSA spending

mortgage interest

real estate taxes

homebuyer credits

pension or IRA contributions

medical or miscellaneous deductions

capital gains/losses

Now, the not-so-simple things:


buy stuff (such as energy-efficient appliances)

Please refer to the original article link above for details on each. For year-round advice, check out Jeff Schnepper's "Pay Zero Taxes" books, and find out why I call him my tax god.


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