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Tax tips

‘Fiscal cliff’ a game-changer for tax man’s year-end advice

Andrew Overby, of Amsterdam, dressed as Lady Liberty, yells to passers-by along Market Street in front of Liberty Tax Service back in April.
Photographer: Marc Schultz
Andrew Overby, of Amsterdam, dressed as Lady Liberty, yells to passers-by along Market Street in front of Liberty Tax Service back in April.
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In the last remaining days of 2012 it’s prudent to take a few moments from the snowy festivities and drafting of New Year’s resolutions to think about taxes. “Normally the thing to do would be to make any charitable donations and sell any losing stock to cut down on your taxable income,” said Jim Daniels, a tax partner at UHY Advisers in Albany. But the fast-approaching “fiscal cliff” is tossing a wrench into normalcy at ...

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