Put some savings away for retirement
A great way to put money away for the future is with a deductible Individual Retirement Account (IRA).
A conventional IRA will defer taxes as your investments grow, while a Roth IRA is actually tax-free. You have until April 15 to open an IRA and make a deductible contribution for the previous year.
If your work offers a 401K with matching make sure you take full advantage of this. If your employer offers a matching, it is giving yourself a raise if you take full advantage of this. Plus with the first $15K or so before taxes you are helping yourself out even more.
Part of the End of Year Tax Saving Tips Tax Tip #2
Year End Tax Tips #2
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A 401K is always a good way to save taxes and build a retirement. Should be part of everyones plan.