Chris Markowski

Below are a few tax planning strategies that you can take advantage of before 12/31/08 (please note that each taxpayer’s situation is unique and these strategies may or may not apply to you): 1. Making your January 2009 mortgage payment on your residence before the end of this year allows you to deduct the interest […]

Use holiday bonuses to max out annual retirement plan contributions first and for presents second. Avoid year-end capital gains by gifting appreciated securities rather than cash. Make charitable donations before the end of the year to obtain better deductions. Use the $11,000 annual gift-tax exclusion (increases to $12,000 in 2006), but do not exceed it. […]