CHICAGO (CBS) — With less than two days until 2015, there are still a couple ways you could maximize your deductions, and ease your income tax bill for 2014.READ MORE: Illinois State Trooper, Woman Found Shot Dead In Car On Southeast Side
Certified public accountant Linda Forman said you can do some early spring cleaning, and gather unwanted clothes and furniture to donate to charity. Be fair in how you value items, because the Internal Revenue Service can be picky.
“There’s actually apps to get value for them on the web, and also just take a walk through the thrift store once you’re donating them, and see what the prices are,” she said.READ MORE: Two Years Ago Today: First Confirmed Case Of COVID-19 Reported In Illinois
Contributions to a qualified 529 college savings account also will win you some tax breaks.
If you’re lucky enough to get a bonus on your salary, you can max out your 401(k) contributions.MORE NEWS: MAP: At Least 276 Kids 16 And Younger Have Been Shot In Chicago Since 2021
If you think you’re earning more income in 2014 than 2015, you can pay more towards your mortgage and property taxes for next year now, to lighten your upcoming tax bill.