Taxes: 5 Things to do Now

I know--it's only February, but what better time than the dead of winter to get busy with your tax preparations? On CBS3 this morning, I discussed the five things you need to do right now to before for your date with Uncle Sam and highlighted the new IRS tax deadlines that you need to know. Watch the segment until the end, to find out one extra piece of advice.

Here are the 5 things to do RIGHT NOW to help with your tax prep:

1. Pay attention & open your mail
2. Gather credit card summaries/review checking account for potential deduction (charitable, job search costs, miscellaneous)
3. Expect revisions from investment or brokerage accounts
4. Review your 2009 return as guide to what's missing
5. Determine whether you will hire a CPA or do it yourself

Jill Schlesinger

Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.

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