As Tax Day approaches, you might be looking for a way to get a bit more back from the government, or to reduce the size of your tax bill. Commit to a calendar Here are a few last-minute actions you can take to … Tax Day is quickly approaching, but there is still time to take advantage of strategies that may help minimize your tax liability. Last-Minute Taxes. A Traditional IRA is just one way to fund your retirement. IRA contributions, HSA contributions, & the Saver's Credit are … Doing your taxes might seem like the financial equivalent of a root canal, but there are many reasons why you shouldn’t wait to the last minute to file taxes. 7 Last-Minute Tax Tips to Lower Your 2018 Bill If you haven't filed your taxes yet, don't overlook these money-saving strategies. Daniel Epstein. This article was fact-checked by our editors and reviewed by Christina Taylor, MBA, senior manager of tax operations for Credit Karma Tax®.. CPA, MBA. Most of the last-minute opportunities to reduce your tax liabilities for 2018 have come and gone. Fewer taxpayers than last year had filed by late March. Last Minute Tips for 2019 Taxes. That may be because of the new tax law. This is why you shouldn't wait until the last minute to file your taxes. Mar 18, 2020. By CBSNews.com staff CBSNews.com staff March 31, 2000 / 12:41 PM / CBS CBS Financial Adviser Ray Martin offers advice on … During the winter season, the April tax deadline can seem a long way off. Article Summary. If you’re looking for a last-minute deduction, make a contribution good for the preceding tax year, and reduce its taxable income up until Tax Day. December 21, 2015 | Quicken Filing & Preparation. Keep in mind you'll be reporting the previous tax year, which ends while you're sipping Champagne and humming "Auld Lang Syne." said. Even so, experts say, the majority of taxpayers can still submit on time. There are a number of last minute tax moves you can make after the calendar & tax year has ended, right up to the tax deadline, that can result in additional tax savings in the form of tax deductions & credits. While rare for Hutner, this experience isn't so unusual in America. We encourage you to reach out to your advisor with any questions. These last-minute tax tips can help get you ready to file your federal income tax return — and make the most of any refund you may be due. In a Nutshell Tax Day will be here before you know it. One of the truly last-minute tax deductions you can claim as a small business owner is your Traditional IRA contribution. Tax Day is right around the corner, with just a few days to go until 2018 returns are due.