Reindeer Year-end Tax Tip Games 2012

December 15, 2012

Santa Claus’ trusty reindeer don’t have to report for work until Christmas Eve. So with time on their hands hooves, they graciously volunteered to offer year-end tax tips as we count down 2012.

Each of the nine Christmas transportation specialists provided a tip, starting with Dasher on Dec. 13 and wrapping up (bow optional) with Rudolph on Friday, Dec. 21.

The timing is perfect. The sleigh pulling crew then gets the weekend before Christmas off and we get tax tips in time to put them to use by Dec. 31.

  1. Dasher says use up your FSA funds
  2. Dancer says do a mock tax return
  3. Prancer says sell appreciated assets
  4. Vixen recommends giving estate tax gifts
  5. Comet says give to your favorite charity
  6. Cupid says note your year-end marital status
  7. Donder says harvest investment losses
  8. Blitzen says convert to a Roth IRA
  9. Rudolph says bunch your deductions

Thanks to all the reindeer, and to all a Merry Christmas and many tax savings!

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Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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