END OF YEAR TAX TIPS

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The saver's credit is a way for low and moderate income citizens to save on taxes by saving for retirement. If you make voluntary contributions to an employer-sponsored plan or to an IRA, you may be able to take a tax credit.

Moving expenses may be tax deductible when related to a new job, or if your old job is now at a new location. A tax break may be coming your way.

For homeowners who lose homes:  The IRS offers a section on their website at IRS.gov for people who have lost their homes due to foreclosure.  It includes a worksheet designed to help borrowers determine whether any of the foreclosure-related relief provisions apply to them.

Save those forms that come in the mail. Save ALL Forms 1099, 1098 and W-2, and anything that is tax-related.

Organize your medical receipts, copies of checks or acknowledgements for donations, and anything else related to itemizing on Schedule A.

New address? Make sure your employers, financial institutions, insurance agencies, etc. have your new address.

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IRS INFORMATION