Tip 24. Tax efficient savings - Frugal Is Fabulous Tips And Ideas

If it makes sense, bunch your deductions into one year.


If you have done some tax estimates and it looks like standard deduction this year is going to be bigger the itemized deduction, then consider postponing until after New Year all charitable contributions, office-related purchases and other expenses that could go into itemized deduction. This way you will have more to itemize next year and get much bigger deduction.
 
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