10 last-minute 2016 tax tips to save you money in 2017

When to deduct what to get the maximum return
  • If you anticipate that your 2017 will not be as good as your 2016, add as many deductions to this year's bill as you can by December 31, 2016.
  • If you anticipate 2017 will be better than 2016, push your deductions into the New Year.

Are you staring at a big income tax bill for 2016 because you had a great year, or are you looking at a refund because this year was lousy? Depending on the year you had, here are some savvy ways to get the most out of your taxes — provided you take action at the right time.