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90-Second Financial Fix

Save money on taxes in 90 seconds

About the author

Kelsey Hubbard is a freelance broadcast journalist based in Connecticut. She is a former host of ABC News’ Money Matters and was a longtime host and reporter for The Wall Street Journal’s daily video business news shows.

Are you paying too much for 2013 taxes? If so, you might not even realise it. US tax preparation service H&R Block claims Americans overpaid taxes by $1bn in 2012.

To keep your hard-earned cash in your pocket, take note of a few recent tax code changes that will cut what you owe Uncle Sam before the April 15 filing deadline. For one, a new law opens the door for last-minute charitable donations that could reduce what you owe — even if you donate now.

Other changes will benefit those who work at home, and property owners who have made “green” improvements. 

Click “play” to learn how to save on taxes — in 90 seconds.

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