So assuming that the tax changes pass I’m looking at what I can do (in my personal situation) to try to maximize my savings this year. For instance, if the standard deduction is doubling then I will no longer be able to itemize so I’ll want to give any charitable donations before the end of the year.
Additionally, I’m looking at possibly paying my march property tax payment (or perhaps any next year). Is this possible either from my escrow account or just writing a check. My county has taxes due 4x per year in Aug, Oct, Jan and March. Thoughts on this?
Obviously, I’ll want to pay my Jan 2018 mortgage payment in December. Unless I’m missing something there is no other way to “prepay” mortgage interest so that it will show up on this years return.
Any other thoughts? Mine mostly revolve around the fact that I can no longer itemize so MI, PT, sales tax, etc won’t be able to be taken as a deduction for me anymore.