Even though your mind may be focused on holiday shopping this time of year, don’t forget that 2011 is almost over. With the year ending, there are many tasks that need finishing for tax reasons and also just to be ready for next year. Here are some to consider:
Make your house energy-efficient: Purchase energy efficient qualifying products and 10 percent of the cost up to $500 can be claimed. To learn about the qualifications and rules, search IRS.gov for Form 5695 and view its instructions.
If you are in the market for the products still, you can add a bonus by purchasing them from Home Depot using a Home Depot gift card that you can buy at Kroger. By purchasing the gift card at Kroger, you’ll get four times the typical number of points for the grocery’s gas rewards program.
Contribute to an IRA: The maximum tax-deductible contribution to an Individual Retirement Account for 2011 is $5,000 if you are younger than 50 or $6,000 if you are 50 or older. You can contribute to your IRA for the 2011 tax year until the tax filing deadline of April 17, 2012.
Spend your Flexible Spending Account: If you have money set aside in a flexible spending account, you should be spending it, though some plans offer grace periods.
Check out your medical expenses for the year: You can deduct medical expenses on your federal tax returns, but they need to exceed 7.5 percent of your adjusted gross income. Be sure to add up all of your expenses from eyeglasses, over-the-counter medical supplies, insurance premiums and long-term care insurance.
Make charitable contributions: Find a qualified non-profit and make tax-deductible contributions. You need to receive a letter of acknowledgment from the organization specifying your donation amount. You can go through your house for donations, but you can only deduct the fair market value of the property.
Change your important passwords once a year: Many of us do most of our banking, bill paying and more online. Changing your passwords at least once a year will give an extra layer of protection.
Check your credit history: Visit Annualcreditreport.com for your free annual credit report as provided for under federal law. Your credit history doesn’t include your credit score, but use this information to check it for accuracy.
Look over your budget: Now is the time to see how you have done all year with your budget. If you haven’t done a budget, 2012 is the time to start.
Freebies
■ Victoria’s Secret is giving away 100,000 Secret Rewards Cards on Facebook worth anywhere from $10 to $500 until Thursday, starting every day at 9 a.m. Eastern Time.
■ Coupon for buy one breakfast at Bob Evans and get another one free Monday thru Saturday.
■ Free Christmas Tree Fire Safety Hang Tag from FEMA.
■ Create a free MiMedia account and get 7GB to back up your online digital photos, music, documents and more.
■ Create a personalized video from Santa Claus for your children, friends or family members.
■ Are you traveling for the holidays? Pringles has games for the kids to print out and travel tips for the parents.
■ Shop at Walgreens until December 17 and you can earn Jingle Cash to spend in stores the following week. Purchase qualifying items of $30 or more and receive up to $20 in Jingle Cash.
