IRS End of Year Tax Tips
January 1st, 2012
Six tax tips from the IRS to help you with your 2011 tax return savings.
You have till the 31st to make your donations to charity. Make sure you save all receipts and you have copies of statements to prove what you donated and the information on the receiver.
Making energy improvements in your home with the Residential Energy Efficient Property Credit not only will save you money on your taxes, but also on your utility bill.
Examine your financial portfolio and look for profit and losses to see if you can make some deductions there.
Contribute the maximum possible to your retirement accounts.
There are some qualified charitable distributions if you are over 70 1/2.
There is a health care tax credit for small business owners if the business pays into employee health benefits.
A Certified Public Accountant can help you optimize these tips for 2011 as well as design a plan for you to start the new year off on the right foot.
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