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Tax moves to make in February 2013

The year's shortest month is here. But there's no shortage of tax moves to make in February.

February_tax_moves_160Since we've only got 28 days, it's important to focus. You don't want to turn into a tax-time Bill Murray in Groundhog Day, doing the same tax tasks over and over. Get your 2012 return right the first time by being prepared. This checklist should help.

If you're not quite ready to file your 1040, a filing system will help you keep all the tax statements that are arriving right about now in good order until you are ready to tackle your taxes.

When you do get around to plugging in your tax data, take note of whether you owed the Internal Revenue Service more money or whether you got a refund. Either way, you might want to think about adjusting your withholding.

And while February is a short month, it's got two big holidays that have tax implications.

Romantic tax geeks know that Valentine's Day is a great time for married couples to examine whether they want to file a joint return. (Special things like that are why the hubby and I have been together for so long!)

Or maybe this is the year that you go your separate ways, at least for tax filing purposes.

If, however, Cupid has indeed left your house, take note of the many divorce-related tax matters you need to consider.

And savvy shoppers know that all those President's Day sales mean that you can pad your deductible state and local sales tax totals.

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

Just scroll down a bit and make this shortest month come up big for you at tax time.


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