I'm sure that by now all y'all have followed my first piece of year-end tax advice: Do a draft tax return.
What? You haven't yet done a dry run to see what you're 2011 tax bill (or refund) might be? I'm as shocked, shocked as Capt. Renault.
Well, this time your procrastination seems to have paid off.
My tax-blogging colleague William Perez today previews the three major tax preparation software programs' abilities to provide you with an advance look of your 2011 taxes.
"Yesterday I sat down to figure out what my taxes might look like for 2011," says William. "Drafting out a tax return for me had two purposes: figuring out if I need to make any additional tax payments, and also figuring out whether engaging in any year-end moves would be worthwhile."
And if you can make some time between shopping and attending holiday events, not to mention that pesky work that gets in the way every year about this time, do run a draft tax return.
You might find that you'll have enough coming back to pay for that special Christmas gift.
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