PEORIA, Ill. — Only five days left until the new year and not much time left to get your 2019 tax breaks. There are a few ways you can reduce the tax bill you will receive in April.
You can get 30% credit for buying and installing solar panels before the end of the year. That credit goes down to 26% next year.
Also, if you are looking for a new car, now is the time to trade in your old one. You will have to pay more in 2020 than you would right now.
William Sharpe, president of Total Income Tax, recommends taxpayers analyze and look over withholdings before the end of the year.
“Sometimes their withholdings are not what they expected them to be especially this day in age with everything being digital a lot of people do not physically see or view their paystub,” Sharpe said.
Sharpe said this is something he recommends you do at least once a year.