Tax experts give tips on how to save money on your tax returns - KTTC Rochester, Austin, Mason City News, Weather and Sports

Tax experts give tips on how to save money on your tax returns


LA CROSSE, Wisconsin (WXOW) - The holidays are a busy time of year for everybody so thinking about your tax returns may be last on your list but experts say by taking advantage of reviewing your taxes now might save you a few bucks on your tax returns.

If you want most out of your tax returns, you have until December 31st to take care of potential deductions on your taxes, including health care bills, adding money to investment accounts, or giving to charities.

"If you think you might be close on itemizing your deductions, so for instance, the standard deduction for 2013 is $12,200 so if you add up all your deductions and you get close to $12,200, by giving a little bit more to charity, paying your state taxes, you're gonna get that extra little deduction," says Greg Kenworthy, a tax manager at Hawkins's Ash in La Crosse.

Other ways to increase deductions to lower taxable income include paying your real estate bill, paying state taxes and mortgage interest.  Also, selling some stock is a good way to increase deductions.

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