5 Last-Minute Tax Tips You Shouldn’t Forget

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5. Don’t forget that IRA!
If you’re still hunting for deductions, the easiest way to cut your tax bill is to open a traditional IRA. If you qualify, you can deduct up to $5,000 from your 2012 taxes — $6,000 if you’re 50 or older. But don’t wait until the absolute last minute to open an account, as it will take time to get an account set up. Learn more about the benefits of IRAs here.

The article 5 Last-Minute Tax Tips You Shouldn’t Forget originally appeared on Fool.com.

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