How would you like to save hundreds or even thousands on your 2011 federal tax return?
Some year-end moves might allow you to do just that.
The fourth quarter of 2011 is passing by quickly and taxpayers now find themselves in the “stretch drive”, with just a few weeks left to make those moves that could help them address tax issues this year and next.
Here is a list of some year-end tax moves to consider, and a few items you might want to review before 2011 ends.
Of course, you should consult a qualified tax or financial professional before taking any action.
Part 1 … some ideas for everyone.
1 Think about estimating your 2011 taxes.
Have you ever tried to estimate the tax you will pay next April? It does take time, and very often it is time well spent. Estimating your taxes will give you some clues about where you can potentially save some tax dollars before 2011 ends.
If you know roughly how much you will owe or receive from the IRS for 2011, then you can act on that information. If hundreds or thousands of dollars might be coming your way, you can start thinking about the destiny of that money – how it might be invested or used to accomplish a goal. If you’re going to be writing a check next April, you can make a payment before the end of 2011 or adjust your withholding to bring you tax bill down.
Download the 12 page guide below:
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