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Tax Tip: Consider the Future, Not Just 2010

Comstock Images/Thinkstock(NEW YORK) -- When you're doing your taxes, it's a good idea to look at the big picture.

"Tax planning really should be a year round event," says Mary Beth Franklin of Kiplinger's Personal Finance magazine, but it usually doesn't work out that way. "Unfortunately most of us only think about it when we're panicking to pull together our existing tax forms."

"When you...hit the send button or pop that return in the mail it's a great time to sit down and review what you've done. Do you see any patterns there, how you're spending your money?"

Tax accountant Janice Hayman advises taking a look what's being taken from your current pay check.

"During the year people should just keep track of all of their sources of income. They should keep track of their deductions as they're incurring them."

Copyright 2011 ABC News Radio

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