Thursday,  November 29, 2012 • Vol. 13--No. 134 • 6 of 38 •  Other Editions

By Jason Alderman

Last-minute ways to trim your taxes
By Jason Alderman

• From now until New Year's is probably when you have the least amount of time to spare on mundane financial bookkeeping tasks. But if you can dedicate a few minutes to review your benefits and tax paperwork, you might be able to shave hundreds - or even thousands - of dollars off your 2012 taxes.
• Here are a few suggestions:
• If you haven't already maxed out on contributions, ask your employer if you can make a catch-up contribution to your 401(k), 403(b) or 457 plan before year's end. Most people can contribute up to $17,000 in 2012 (a $500 increase over 2011), plus an additional $5,500 if they're over 50.
• If you contribute on a pretax basis, your taxable income is reduced, which in turn lowers your taxes. At a minimum, if your employer offers matching contributions

(essentially, free money), be sure to contribute at least enough to take full advantage of the match.
• If you participate in employer-sponsored flexible spending accounts (FSAs), which let you use pretax dollars to pay for eligible healthcare and dependent care expenses, an important change is coming next year: Beginning January 1, 2013, the maximum annual contribution for

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