We interrupt this festive holiday season for an important bulletin: There might be ways to minimize your tax bill for this year, but you must act before Jan. 1.
That leaves less than two weeks to fiddle with your finances, play with your portfolio, and dig up some deductions. Exactly how should you do that? Review the tips in these selections from our Tax Strategies Area:
- Year-End Tax-Planning Tips: The Basics
- Year-End Tax-Planning Tips: Income Planning
- Year-End Tax-Planning Tips: Portfolio Pruning
- Tax Form Changes for 2002
The number of options available to each person varies, but anyone who itemizes their deductions can take advantage of a world-bettering, people-enhancing tax reducer: Make tax-deductible contributions to your favorite charity.
If you don't have a particular cause in mind, or are interested in learning about some outstanding organizations, visit our Foolanthropy page. The featured charities have found many successful ways to mix the entrepreneurial zeal and the giving spirit.
So take time to see if you can save some taxes and support worthy causes. Then you can get back to your festive holiday season, knowing you've reduced your tax bill and improved the world.