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(535 words)LITTLE ROCK – The new year brings a new challenge for consumers: tax filing season.
Laura Connerly, assistant professor for the University of Arkansas System Division
of Agriculture, said “there are steps you can take now to start preparing for tax
season, and maybe even save a little more on taxes.”
Connerly has a few tips to consider before tax season arrives.
Maximize retirement contributions:
Give to charities. Many people give to charities throughout the year. “You have until Dec. 31, 2014,
for your charitable contributions to be counted as an itemized deduction for the 2014
tax year,” she said. “To take the deduction, you must itemize your deductions using
IRS form 1040A.”
Organize for tax filing. “If you haven’t already done so, now is a good time to start organizing your tax documents
so you won’t have to scramble at the last minute,” Connerly said. ”If you’re planning
to itemize, this will include amounts paid for childcare, charitable donation receipts,
medical and dental expenses and other deductible expenses.”
For more information about managing your finances, contact your county extension office
or visit www.uaex.uada.edu.
The Arkansas Cooperative Extension Service offers its programs to all eligible persons
regardless of race, color, sex, gender identity, sexual orientation, national origin,
religion, age, disability, marital or veteran status, genetic information, or any
other legally protected status, and is an Affirmative Action/Equal Opportunity Employer.
By The Cooperative Extension ServiceU of A System Division of Agriculture
Media Contact: Mary HightowerDir. of Communication ServicesU of A Division of AgricultureCooperative Extension Service(501) email@example.com