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Tax moves to make in January 2012

January 1, 2012

HAPPY NEW YEAR!

Oh, sorry. I didn't mean to blast in on you as you're recovering from last night's celebrations.

Let me start over, more softly. Happy New Year.

Are you ready for 2012?

January_tax_moves_160Well, are you at least ready to complete your 2011 tax return that's due this April?

That's OK. Me neither. We've got time. In fact, we've got even more time this year.

Uncle Sam doesn't expect our 1040 forms until Tuesday, April 17. Why the extra days? April 15 is on Sunday and the following Monday is, as it was last year, the Emancipation Day holiday in the District of Columbia. And D.C.'s day off gives us more time to file.

Plus, 2012 is a Leap Year, so there's no excuse for not getting your taxes done by the April deadline this year.

Of course, that old proverb wisely notes that every journey begins with one step. That's particularly true of taxes. So to get going on your 2011 return trip, you need to soon start thinking about things like:

  • Picking the proper tax form to file,
  • Whether to hire a tax pro this year or do your taxes yourself, and
  • Getting ready for the onslaught of 1099s and other tax documents that will be arriving in January.

Those are just a few tax tasks awaiting you in this first month of the New Year. You can find more in in the January Tax Moves listed in the ol' blog's left column.

There's also a fun countdown clock to the tax filing deadline.

Just scroll down a bit and you're set, with plenty to do tax-wise for the rest of this month … as soon as the hangover from ringing in the New Year subsides!

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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