Here Are the Last-Minute Tax Breaks and Deductions You're Overlooking

Mainstreet.com

It's not too late to find some extra savings in your 2014 tax return. In fact, while you're checking under the cushions for loose change in 2014, it's actually a good time to make sure cash doesn't fall out of your pockets in the first place. Scott Stavin, a certified public accountant and tax principal at Friedman LLC in New York, notes that finding savings typically requires a little bit of foresight. “We're preparing people's 2014 tax returns, but we're also setting the foundation for 2015, and that's very important,” he says. “There are things you can do with taxpayers at this stage of the year to get them set up for the rest of the year.” With the tax deadline looming, we pressed Stavin and Criscuolo for some last-minute tips for keeping the IRS at bay. The following suggestions should not only keep you covered for this year, but help you prepare for 2015 as well.