2. Have your records in order for tax time
An effective organization may not help you cut some taxes. However, it might help you get some financial rewards. Get all of your documentation in place, including receipts, last year’s tax return, this year’s W-2, and the 1099s.
3. A last-minute estimated tax payment
In case you missed paying some taxes or didn’t pay the IRS enough during this, then you may be facing a HUGE tax bill, adding some penalties and interests as well.
If by January 15, you make an estimated payment you can erase the fourth quarter penalties, but if you didn’t send any estimated for the early quarters you still have to pay for those penalties.
4. Itemize
If you are self-employed, you own a home or you live in a high-tax area then you should consider itemizing your tax deductions.
