Ways to maximize your tax return

The time to file for taxes is upon us for 2017, and that means you not only need to know how you'll be affected, you also need to know how to maximize your return.

Experts tell 47ABC there may be some opportunities to reduce taxes and save money even now before the end of the year.  That is good new for many who need that little extra help this holiday season.

With chaos in Washington surrounding tax reform, taxpayers are being given a simple piece of advice.

"In general we're recommending to accelerate deductions and defer income into next year if that's an opportunity," says investment advisor Mark Engberg with CFP.

He adds uncertainty regarding what is and is not in the tax plan has made filing this year different from any other.

"A lot of deductions may be going away for the average person, much larger standard deduction, so we're telling people to accelerate deductions and if they can to defer income into next year."

By paying those taxes now instead of pushing them off, you get your money now, money you can make work for you.

And though you can wait until January 15 to pay property taxes, get them in now to count for 2017.  You can accelerate them to December 31 to get the deduction against your 2017 income.

Engberg adds that you can make a charitable contribution, or invest money in your retirement plan before the clock strikes midnight on 2017.

If you are self-employed, experts say you should try and push income into 2018.

And, as always, go through your entire portfolio to sell off any 'losers' you may have to either take the deduction against ordinary income or to offset gains in other assets that may have taxable events throughout the year.