The Dog Days of Summer have definitely arrived. The heat across so much of the country has drained many of us of the will to do anything … except deal with taxes, of course!
Maybe the rising temperatures contributed to the rising tempers on Capitol Hill that slowed the finally completed debt ceiling deal. But I urge you not to follow Congress' bad example and put off your tax tasks until the very last minute.
There are plenty of tax moves you can make in August that could help you face a smaller Internal Revenue Service bill when you file next year.
You can, for example, make energy-efficient home improvements to make your house cooler and your utility and tax bills smaller. If you've delayed your 2010 filing until the extended Oct. 17 filing deadline and you qualify for this tax credit, it could make a $1,500 difference in what you owe. If your upgrades are for 2011, you still might be able to claim a $500 credit next filing season.
The energy upgrade is just the first of many August Tax Moves detailed over in the ol' blog's left column. Just scroll down a bit and you'll find the other tax-savings suggestions.
I know that you're busy, what with the summer winding down and getting the kids ready to head back to school. But try to make some time for your taxes, too.
A little tax attention in this sweltering month could help you be a cool customer when you file your returns next year.
- Weekly Tax Tips for 2011
- Heat wave strains utility assistance programs, charities
- Summer time is tax pro time
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