LI accountant shares end-of-year tax tips

As Long Islanders climb out from under all that holiday stress, there's a new worry just around the corner: tax time. Accountant Tom Dufek says

CENTEREACH - As Long Islanders climb out from under all that holiday stress, there's a new worry just around the corner: tax time. Accountant Tom Dufek says there are still lots of ways Long Islanders can reduce their 2011 taxes before it's too late. He recommends making a charitable donation for a tax write-off that helps the needy. Save any documentation for proof of a donation, he says. Also, making an extra mortgage payment this week would give taxpayers the benefit of having an additional interest payment for their 2011 tax returns, he says. Dufek says it's advisable to max out 401k contributions or even open a Roth IRA by the end of the year. He also says that homeowners who pay their real estate taxes now can rack up big savings in deductions.Still, one of the easiest and most satisfying ways to lower tax payments is to make a documented charitable donation, Dufek says.

advertisement | advertise on News 12

Top 5 Must See

A new report suggests that a rubber teething 1 Report: 'Sophie the Giraffe' toy prone to interior mold growth
The Melville Mall, located off of Route 110 2 Residents oppose possible expansion of Melville Mall
Nassau Fire Officials say 2 people had to 3 2 hospitalized after car hit brick pillar in Port Washington
Brian Conners, 25, was killed Saturday while snowboarding 4 Smithtown H.S. East mourns loss of assistant football coach
President-elect Donald Trump and Vice President-elect Mike Pence 5 Trump heads to Washington to kickoff inaugural festivities

advertisement | advertise on News 12

Features

Each week, News 12's Doug Geed explores the Check out fun things to do on the East End!

Explore the Twin Forks with News 12's Doug Geed.

Each week a different shelter visits News 12 Dog Day Fridays Series

Each week a different shelter visits News 12 Long Island with pets up for adoption.

News 12 digs deep to find Long Island's Discover Long Island's Hidden Past

News 12's Danielle Campbell digs into Long Island's roots.

News 12's Lily Stolzberg sees how much Long On The Spot

News 12's Lily Stolzberg sees how much Long Islanders know about everything and anything.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE