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Year end tax considerations

CPA David Young discussed year end tax considerations Monday morning on News 8 at Sunrise.
CPA David Young discussed year end tax considerations Monday morning on News 8 at Sunrise.

Young said there are many way you can act before December 31 to increase your tax breaks.

He said couples in same-sex marriages can take advantage of federal tax breaks as a result of the Supreme Court's DOMA ruling.

In addition, all filers can consider deferring income to 2014, which may or may not make sense depending upon your tax bracket in each year.  You can also use charitable donations to lock in last minute tax deductions.

Young said selling off losing investments can offset market gains and lighten the tax load as well.

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