13 Ways to Maximize Your Tax Deductions Before the End of the Year

13 tax moves you should take by the end of the year to increase your deductions
13 tax moves you should take by the end of the year to increase your deductions

One of the most fundamental decisions to make when filing a tax return is whether to itemize deductions or to use the standard deduction. The decision tends to be a financial one: You should generally itemize your deductions on your federal form 1040, Schedule A, if your itemized deductions are more than your standard deduction. For 2010, the standard deduction for married couples filing a joint return is $11,400. The standard deduction for individual taxpayers and married couples filing separate returns is $5,700. The standard deduction for heads of household is $8,400.

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Tax season is here! Check out the Tax Center on AOL Finance for all the tips and tools you need to maximize your return.
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