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Tax moves to make in September 2012

September 5, 2012

Careful readers of the ol' blog already have noticed that I finally got out of my long Labor Day holiday stupor and turned the digital page on the monthly tax calendar.

So we're into September. Summer's over. Schools underway. Cooler temperatures will be here soon, we hope!

And there are tax moves to be made.


September_tax_moves_160Pennsylvanians got an early taste of taxes when on the first day of this month the state's new online sales tax collection kicked in. Californians also will see their online and catalog sales slips include the state and local taxes starting on Sept. 15.

The senior citizens we honor on Grandparents Day (it's the 9th in case you haven't picked up a card yet) need to look at whether they might owe tax on some of their Social Security benefits. And those who take care of older parents should explore whether they can claim a tax break for their familial and financial commitments.

Another date to mark on your calendar is Sept. 17. That's the deadline for your third estimated tax payment of 2012.

Did you move this summer? Gather up those receipts now so you can claim those costs on your tax return next year.

What about classes? If you or your kids are continuing your education or just starting college, don't forget about the education tax breaks, such as a 529 plan and education tax credits.

And not to harp on weather (although those same sharp-eyed long-time readers know I'm almost as big a weather nut as I am tax geek), but September is traditionally the peak of the Atlantic hurricane season. So if you haven't prepared yet, do so now.

You can check out these and other September Tax Moves at your leisure over there in the ol' blog's left column.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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