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Do this New Year's Eve to get bigger tax refund

Don't Waste Your Money
Posted at 6:39 PM, Dec 30, 2015
and last updated 2016-12-29 11:00:43-05

Three generations of Cincinnati's Meyer family -- from all parts of town -- gather at the Freestore Foodbank every year on New Year's Eve.

It's a 20 year family tradition: Donating canned and boxed goods for  needy families.

This year the scale tipped in at over 600 pounds of donations.

Current patriarch Jeff Meyer said "we're trying to teach them that Christmas is not just about getting presents and Santa Claus, it's about giving back to people that might need a little more than we do."

Sarah Cook, Freestore Foodbank spokesperson, said it's donors like the Meyers who make this a great time of hear.
    
"We greatly appreciate the support of the community, and actually 50% of donations to the Freestore Foodbank come during the holiday season at the end of of the year," cook said.

How to Lower Your Tax Bill

New Year's Eve is a great time to stop by the Freestore, or a Goodwill, Salvation Army, or St Vincent de Paul location and donate canned goods.... clothing....even a car you no longer need.

Donating is a great way to help others and cut your tax bill at the same time.  But there are other ways you can cut your tax load in 2017.

Three things you can do before the ball drops on Times Square...

  • Donate money or clothing to charity.
  • Sell losing stocks or mutual funds for a tax deduction..
  • Consider pre-paying January's mortgage payment, property taxes, or local income taxes early.

The Meyer family likes the tax deduction, but more importantly, they just like helping those in need.

As always, don't waste your money.

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