Time is running out for anyone looking for certain 2008 tax deductions.
One of the most popular deductions this time of year comes in the form of charitable contributions. These contributions can be in the form of clothing, cars, real estate, and even cash or check.
Michael Devine with the Internal Revenue Service in St. Louis says it is imperative that people making contributions get receipts for those contributions to prove that donations have been made. Next on the importance list is making sure the contributions are made before midnight December 31st.
Not all 2008 deductions have a December 31st deadline. You will still have until April 15th of 2009 to make an Individual Retirement Account contribution for 2008. For most Missourians the maximum IRA contribution for 2008 is $5,000. But the maximum is higher for those 50 years old and older.
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