Store your return in a safe place

Put your 2012 tax return and supporting documents somewhere safe, so you’ll know where to find it in the future. You may need a copy of your return when applying for a home loan or financial aid. It can also be a helpful guide for completing next year's return.

Organize your records

Establish one location where everyone in your household can put tax-related records during the year. This will avoid a scramble for misplaced mileage logs or charity receipts during tax time.

Consider itemizing deductions

If you usually claim a standard deduction, you may be able to reduce your taxes if you itemize deductions instead. If your itemized deductions typically fall just below your standard deduction, you can bundle your deductions. For example, an early or extra mortgage payment or property tax payment or a planned donation to charity could mean tax savings for you. Check the instructions for Schedule A (Form 1040), Itemized Deductions, for the list of items you can deduct.

Start planning an approach now that will pay off at tax time next year. If you need an appointment with your CPA, this is a great time of year to do so while they are not extremely busy.