Some tax tips as tax season draws near

Becker Tax and Bookkeeping has some tips

The countdown is on for 2015, and that means time is running out for last minute tax deductions.

People have until December 31 to make any changes they want reflected in their tax forms.

A local tax preparer recommends things like making a tax deductible donation to a credible non-profit, adjusting your 401k, using flexible spending dollars, sell some losing stocks to balance out winners, and check to see if previous tax deductions are still allowed.

“We’ve got a lot of teachers in the area that will buy books or little prizes for the kids when they do good; that deduction has been extended, so we will get extra credit for that on the 2014 taxes,” said Tammy Becker, of Becker Tax and Bookkeeping.

Becker says the tax return season may have a late start because of a delay in this year’s tax laws. It’s up to the IRS to make that decision.

Comments

comments