Tax tips for the New Year

corner. but there are still things you can do before january first – to get a better deal on your taxes. a certified financial planner from local accounting firm lauterbach told us: if you’re getting an end of the year bonus – have your employer direct it to your 401k – that way it’s not taxable income. plus donate to your favorite charities now. and if you can … donate stocks that have gone up or property rather than cash. because your tax break will be for the value of the stock not what you paid for it. and finally – sell stocks and mutual funds that have lost value. you can offset gains this way and capture losses. “many people have a portfolio that life has built for them. you probably have an employer and a 401k and an ira over here and something else over there. and everything is just by itselt. what you should do is put it all together and make sure you have a portfolio that is working for you. that is created for your life. instead of having a portfolio that was created by your life..” another tip: if you have a roth i-r-a. you can still make contributions until next april and deduct them for this year. el paso and las cruces… we’re