MAIL CHECKS FOR DEDUCTIBLE ITEMS BEFORE YEAR-END TO ENSURE A 2012 WRITE-OFF

You are able to claim the deduction this year even if the checks do not clear until January. And make sure you know the tax rules if you are charging deductible items. For charges that you make with a retail store credit card, you are allowed to claim the deduction for the item only in the tax year in which you pay the bill. For transactions made with a bank credit card, you take the write-off in the tax year that you charged the goods, even if you pay the bill next year.