A client called to ask whether she should invest in a water heater now (December 2008) or wait until 2009. I really like that she is strategically integrating her taxes with other parts of her life. As I told her, the federal tax credits for energy-efficient windows, doors and water heaters, which were enacted for 2006-2007 were renewed in the fall of 2008 -- but for 2009 only. The credits skip over 2008!! By waiting three short weeks until January 1, 2009, she will reduce her tax bill. Who knows, she might also find a lower price during after-Christmas sales!
The time is now to strategically plan to stop wasting money on taxes you are not required to pay.
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