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Tax moves to make in February 2012

February 1, 2012

Ah, February. Such a short month, but so many tax moves to make in these 29 days.

That's right, 2012 is a Leap Year, providing us with an extra day to go along with the already extended filing deadline of April 17.

February_tax_moves_160If you're prepared, you should be able to make each of February's days count toward cutting your 2011 tax bill.

There are the perennial tax tasks of making sure you get all the statements you need to complete your Form 1040.

And don't forget about adjusting your withholding if you discover you had too much or too little payroll tax taken out of your paychecks last year.

But also note the other tax considerations prompted by the many February holidays.

Valentine's Day, for example, should remind you not only to get your sweetheart a nice gift, but also to look at how you file your taxes if you're married.

Or if Cupid's holiday is not so happy in your house, don't forget about the tax implications of divorce.

Those are just a few tax tasks you can take care of this month. You can find more in in the February Tax Moves listed over in the ol' blog's left column.

Just scroll down a bit and make this shortest section of the calendar come up big for you at tax time.

You also might find these items of interest:

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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.)

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