Inconsistent chatter from a Sacramento-based 'Sconi attorney.

Friday, November 30, 2007

7 End-of-the-Year Tax Planning Tips from Tax Lady Roni Deutch

Roni Deutch, the Tax Lady, gathered her top seven end-of-the-year tax planning tips to help taxpayers lower their taxable income and avoid incurring an unpaid tax liability this coming tax season. Here is the list:

1) Thoroughly review your income, expenses, deductions, and financial portfolio
2) Use your credit card for year-end deductible expenses
3) Prepay any state and/or local taxes you might owe
4) Make your next mortgage payment before December ends
5) Make "catch-up" 401(k) payments
6) Gather all charitable contribution receipts
7) Defer income until next year

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