There is another list you should be checking in addition to your holiday shopping list. But this list will enable you to save money rather than spend it, so letâ€™s definitely get excited about attacking the end of the year tax to-do list.
1.) Make an extra mortgage payment
Go ahead and pay your January 1st mortgage payment in December and you will get an additional deduction for the interest paid. Make sure you get the payment in in plenty of time for it to arrive at your lender by yearâ€™s end. That way, the added interest will show up on the annual statement you will get from your lender in lateÂ January detailing your deductible mortgage activity.