It’s time to organize your documents for tax preparation. Look at last year’s tax return to see which tax deductions you took (Form 1040 Lines 23 -37 and Schedule A). Better yet, fill out the tax organizer so that you don’t miss a single one! Gather the tax forms you’ve received in the mail, but also be sure to your round up your real estate bills, childcare expense, excise tax, and charitable contributions.
Click here to check out an article from Fidelity Investments which discusses the “three types of tax reducers.”