Monday December 29, 2008 - Last Week of the Year: Tax Planning

[0:00] ..." On WBZ news radio 1030 with certified financial planner Dee -- here we are the last week of the line and Anthony and you know we have three days left so this kind to do a little tax planning -- right you have time but the clock is -- what you be doing. -- you pay estimated taxes they're doing January 15. But you can pre pay your Massachusetts estimated taxes this week you get the deduction for 2008. But if you got caught in the AMT last year the Alternative Minimum Tax. You like -- with your accountant before paying him because in May not do you any good if you've made imperiling not okay now it's not too late to make a donation to your favorite charity you probably have a stack of solicitations. Everybody's asking for money nowadays yes they are but now it's time to do what you can get the tax deduction right you can write them -- check. Send it off. Or give -- your credit card. And either way you get the"...

[1:44] ..." of course I have is this receipt -- the I don't releasing New York a move on it don't -- Are at a small businesses take the time under review your profit loss statement it -- their early year. You can still do some planning consider doing -- retirement plan except the simplified employee pension plan those are steps. You can probably do that today with the you know Fidelity vanguard. T. Rowe Price and but if you are going to need to send in a contribution you gonna have to include your employees as well in this kind of retirement plan so there are things you can do even fueling at three days left okay and check the website for all of these"...

[0:00]" On WBZ news radio 1030 with certified financial planner Dee -- here we are the last week of the line and Anthony and you know we have three days left so this kind to do a little tax planning -- right you have time but the clock is -- what you be doing. -- you pay estimated taxes they're doing January 15. But you can pre pay your Massachusetts estimated taxes this week you get the deduction for 2008. But if you got caught in the AMT last year the Alternative Minimum Tax. You like -- with your accountant before paying him because in May not do you any good if you've made imperiling not okay now it's not too late to make a donation to your favorite charity you probably have a stack of solicitations. Everybody's asking for money nowadays yes they are but now it's time to do what you can get the tax deduction right you can write them -- check. Send it off. Or give -- your credit card. And either way you get the deduction for this year use your credit card that has frequent flier miles or rebate program. And this way you're gonna be rewarded by doing good time nice okay now get a week off think about cleaning up closets of the attic I now I know you but you know the kids. Because -- drive you crazy they need something constructive to do after eating all those toys. It's a good packing boxes and start getting rid of the stuff that is cluttering up your thoughts boxing day Iraq. On his foxy boxing days the day after Christmas right -- but the you know here's a boxer not exact right. So make a trip to the drop off center in good Willis salvation army in -- there before Thursday get a receipts yes and be reasonable. -- He can no longer claim deductions for use clothing and household goods that are not in good condition according to the IRS I want deduction of 500 dolls my old suit. Right we you know I don't know -- the irises going to send out to police. You know what would you were right down mean you know has no longer can you find in the system of the Goodwill of course I have is this receipt -- the I don't releasing New York a move on it don't -- Are at a small businesses take the time under review your profit loss statement it -- their early year. You can still do some planning consider doing -- retirement plan except the simplified employee pension plan those are steps. You can probably do that today with the you know Fidelity vanguard. T. Rowe Price and but if you are going to need to send in a contribution you gonna have to include your employees as well in this kind of retirement plan so there are things you can do even fueling at three days left okay and check the website for all of these good tax planning ideas at wbz1030.com. Will have more tomorrow here on WBZ news radio 1030."