Tax Strategies Before 2010 Is Over - KATV - Breaking News, Weather and Razorback Sports

Tax Strategies Before 2010 Is Over

Posted: Updated:

There's just over a month to go in 2010.  So now's the time to think ahead about filing your taxes.

There's a lot you can do from now until the end of the year that will have a big impact on your 2010 tax return.  Here are a few tax deductions to keep in mind.

  • We'll start with the obvious and well known deductions, like giving and donating.  If your donation is worth more than $250, get the receipt from the organization you're donating to.
  • If you're a homeowner, consider making your January mortgage payment in December.  That'll give you one more month of interest to deduct from your 2010 taxes.  Just check first with your mortgage company to see if an early payment is possible.
  • If you have large and predictable medical bills that need to be paid, consider making all the payments before the year is over, especially if your medical bills are close to going over 7.5% of your adjusted gross income.
  • And while it won't impact your 2010 taxes, don't forget to use up the rest of your Flexible Spending Account money if you're in danger of losing them in the new year.
  • Most Popular StoriesMost Popular StoriesMore>>

  • $30,000 worth of stolen sculptures from LR Riverfront Park are returned

    $30,000 worth of stolen sculptures from LR Riverfront Park are returned

    Sunday, August 31 2014 11:38 PM EDT2014-09-01 03:38:48 GMT
    $30,000 worth of sculptures stolen from downtown was mysteriously returned Sunday morning. A couple found the sculptures in a black garbage bag inside of the Little Rock Vogel Schwartz Sculpture Garden at Riverfront Park. The Sizzling sisters, First Glance, and Conversation with Myself were all donated to the sculpture garden.More >>
    $30,000 worth of sculptures stolen from downtown was mysteriously returned Sunday morning. A couple found the sculptures in a black garbage bag inside of the Little Rock Vogel Schwartz Sculpture Garden at Riverfront Park. The Sizzling sisters, First Glance, and Conversation with Myself were all donated to the sculpture garden.More >>
  • Metro Radar

    Metro Radar

  • "Lost Seal" from Civil War era returns to Saline County

    "Lost Seal" from Civil War era returns to Saline County

    Sunday, August 31 2014 11:39 PM EDT2014-09-01 03:39:19 GMT
    Saline County celebrated the return of it's “Lost Seal” by installing a historical civil war marker. The county hasn't had the seal since 1863 but it is now back in the counties possession.In 1996 Gary smith of Pine Bluff found discovered the seal with his metal detector in Grant County.More >>
    Saline County celebrated the return of it's “Lost Seal” by installing a historical civil war marker. The county hasn't had the seal since 1863 but it is now back in the counties possession.In 1996 Gary smith of Pine Bluff found discovered the seal with his metal detector in Grant County.More >>