We have a few more days in 2010 so you can still reduce your taxes and now is also the time if you haven't already done this to set up a tax plan. With tax laws changing so often you need to see if this is the year you take advantage of stock sales or selling some collectables. Also when we set up tax plans it is the little things that can save you tax dollars. Most taxpayers remember energy credits because they received documents from the installers or educational credits again you would no if you have a child at the university or you are attending. But how about charitable deductions again most of my client will have a slip from the charity but they don't have a detail on what the value on what they gave and they do not have the milage from their home to the charity drop off location and at 14 cents a mile that can be a good tax deduction. This same information goes for medical deductions you can deduct medical miles at 16.5 cents a mile that can add up.
Another good tax plan would have to do with donating appreciated capital gain property to charity, your deduction amount is equivalent to the value of the property, rather than it's cost. Here is the really good part you never pay tax on the amount of appreciation.
So use these last few days to save tax dollars
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