NJ accountant offers end-of-year tax tips
Taxes aren't due until April, but there are some steps that can still be taken this week to save money.
CPA Jack Tinari says that if you pay your estimated state income taxes before the end of the year instead of waiting until Jan. 16, you can take that write-off in 2011 and get a deduction on your 2011 tax return.
Tinari also suggests paying off medical bills and pre-paying real estate taxes for residents who don't have mortgages.
The CPA says that it would be a good idea to take a close look at your portfolio and consider selling some stocks as the year winds down.
However, Tinari says that there are some exceptions to these rules, so it's a good idea to consult with your tax advisor.