* 5 Tax Savin g m oves t o m ak e bef or e Decem ber 31st :* 1) Make your donations now. Discuss required record keeping. Clean your closets and make some $! 2) Max out your 401k for a federal and state deduction. You?ll like the bigger refund you get, for saving money so you can eat later in life! 3) Don?t wait until the new year to start getting your books and records together if you are self-employed. You should be working on this all year. Trying to get a year ?s worth of bookkeeping and organizing will make you very unhappy, and you will miss deductions when you are sloppy and rushing. 4) Company doesn?t offer a 401k? You have until 4/15 to fund a traditional IRA and receive a tax deduction. Start saving now so you can put away $5500. What a great tax break!
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