Quick, there are only a few days left – have you made sure
you can save as much as you can on your 2012 taxes? With less than a week left,
you need to prioritize how to save money before time runs out. The experts at
the Equifax Finance Blog have a great guide for making the most out of these
last few days before 2013 starts with the following actions:
·
Make sure your home is clear of donation-worthy
items – Do a quick winter house-clearing and empty out closets full of clothes
you haven’t worn or never intend to wear. You can also donate items that have
never come in useful or outlived their use to you. You can donate these items
that are in good condition or give some of them to people who would love them.
Itemize what you donate, especially if they were expensive at any time. While
itemizing, take photos for your tax file, and make sure to take advantage of
tools charities offer to prove and make the most of your donation (but make
sure to be careful about all the information you supply to charities to keep
yourself safe from some kinds of identity theft).
·
Pay ahead – while you have extra money from
gifts and the like, you can pay the 2013 installment of your property taxes to
get the deduction in 2012. You can also prepay other costs, like your vehicle
registration and the January installment of your state estimated taxes in
December, to get ahead and enjoy additional savings.
For more action items for saving while we are still in 2012,
see the full article “FourTax Checks to Perform Before the End of the Year.”
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