Last Minute Tax Tips

by Kirby Gibbs

LUFKIN, TX (KTRE) - It's that time again... Time to start thinking about getting your taxes done.

Tax preparers say that your tax planning for 2008 should have started last December, but it's not too late. There are still things you can do before December 31st to trim your tax bill. Including giving charitable donations to your church or other organizations, and collecting those recipts.

"Some things you may consider this time is save the taxes, property taxes that you paid, that can be used this year to increase your standard deduction up to $500 if you are single, tax payer, and of course, up to $1,000 if you file jointly" says Gloria Toran, CTI Tax Specialist of Compro-Tax.

Another tip for last minute taxes is to make your January 1st mortgage payment by December 31st adding the extra interest paid to what your bank reports. This way you'll get your payment credit in 2009.