Last Minute Tax Tips

By Scott Aber

If you are feeling as though it is too late for you to file your 2012 Local, State or Federal tax returns, you are not alone.  But, fortunately, you are also not correct.  Tax returns are due on Monday April 15, 2013 so you still have three full days to file.  Also, anyone has the option to file for a six month extension until October 15, 2013.  The point is, however, that you are not alone if you are behind on your tax filings because Scott M. Aber, CPA, a tax specialist focusing primarily on New York Metropolitan area clients is here to help.  Scott M. Aber, CPA is also here to help you save money.

Scott has some last minute tips for those of you who are feeling like it is crunch time for tax filing….and some of these will certainly help you save money:

  • Make That Last Minute Deductible IRA Contribution – the regulations surrounding legal amounts and methods of IRA contributions are complicated but they can be done.  Scott M. Aber, CPA is an expert in this area.

  • Think of Some Major Purchases You Made Last Year – deduct the sales tax associated with these purchases and have Scott M. Aber, CPA assist you.

  • Casualty Losses from Hurricane Sandy – where you a victim of Hurricane Sandy or another natural disaster?  The government is allowing you to claim these losses on your 2012 tax returns so take advantage of this and let Scott M. Aber, CPA guide you through the process.

  • Itemize Your Deductions – you would be surprised what qualifies for an itemized deduction.  You can even deduct job search expenses, among other items, and Scott M. Aber, CPA has a full list of what can help you identify these tax breaks.

  • Know Your Extended Tax Breaks – the looming fiscal cliff gave government officials the impetus to extend family-friendly tax cuts.  This extends to tuition deductions and energy efficient deductions.

  • Tuition Fees – Lower your taxable income by close to $4,000 for 2012 higher education fees.

  • Energy Efficient Home Improvements – Individuals or families can use a tax credit, which is somewhere in the 10% range, for any improvements they made to their residence during 2012.  This even applies to the installation of new windows or solar panels.

Scott M. Aber, CPA is well aware that every person’s or business owner’s tax situation is different. Scott prepares   over 600 individual clients tax submissions each year and his firm has the essential expert knowledge to help all his clients.  Call Scott M. Aber, CPA at (845) 215-5969  to speak to a certified public accountant or simply fill out his contact form.

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