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Tax moves to make in December 2010

December 1, 2010

It's the most wonderful time of the year! The time when you can make some last-minute tax moves to reduce your upcoming tax bill.

December_tax_moves_160 I know, I know. You've got a lot to take care of right now.

Family's probably coming to town, or you're going there for the holidays. Either way, you've got to wrap up work so you can enjoy your time together.

Then there's gift shopping. Even if you purchased most of your presents on Black Friday and Small Business Saturday or ordered them on Cyber Monday, there always seems to be a few things you have to pick up before Dec. 25.

But you also need to make time for tax moves that could save you enough in taxes to cover all your holiday costs.

You'll find plenty of tax-cutting options in the December Tax Moves over there in the left column. Just scroll down a bit and look for the red lettering under the tax filing deadline countdown clock.

Maybe only a few of the tax moves will apply to your personal tax situation. And some will bite into your precious holiday time.

But spending a few, or more, minutes making these tax moves by Dec. 31 could make a substantial difference in your final 2010 tax bill.

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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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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.)

Credits/Deductions
Disasters
Family
Filing and Paying Taxes
Politics/Laws
Refunds
State Taxes
Tax Brackets/Inflation
Tax Tips
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