So, 2009 has come to an end, but have you gathered your paperwork for your taxes?
Did you make contributions that can be deducted?
What taxes have you paid?
Did you have business travel that can be deducted?
Did you know that you can make contributions now for 2009 IRA to reduce taxes?
There are a lot of questions to ask yourself, but the following link had some helpful ideas for reducing taxes including the property tax deduction below!
http://www.kiplinger.com/features/archives/the-mostoverlooked-tax-deductions.html
Property-tax deduction for nonitemizers. This break, new in 2008, also works in 2009, but millions of taxpayers who claim the standard deduction may miss it. Normally, to write off property taxes, you must itemize deductions. But this new rule lets homeowners who don’t itemize boost their standard-deduction amount — by up to $500 if they’re single and up to $1,000 if they’re married and file a joint return — to account for property taxes paid during 2009. You’ll need to include extra paperwork — a Schedule L — with your 2009 tax return to get this break.
