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6 midyear tax moves to make

Be aware of possible tax changes
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Some popular tax breaks are up in the air, such as the state and local sales tax deduction, the tax break for educators who buy classroom supplies with their own money and the ability to deduct some property taxes without itemizing.

These, along with countless other tax benefits, are part of what is known as the tax extenders bill. As Congress struggles with ways to pay for the continuation of these tax benefits, it's not unusual to see the bill's passage postponed until the very end of the year.

This uncertainty could affect some of your tax and financial moves. For example, if you're unsure about buying a new car or boat or mobile home, you might want to hold off to see if you can include the vehicle's sales tax on your 2010 tax return.

Meanwhile, keep an eye on Congress and check in on Bankrate's Tax page, where we'll let you know as soon as your federal lawmakers make a decision on these tax matters.


 

 

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