At the end of the year, careful taxpayers double-check that they have all of the proper documentation for the tax deductions they plan to claim in January. A number of deductions are expiring in 2013 and will not be available to lower your 2014 tax bill.
Higher education expenses for a dependent
Home loan modifications will be counted as income starting in 2014
Qualified charitable distributions from an IRA
Consult your tax professional about what deductions you can take with you into the new year.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
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Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: