CLEVELAND - The end of the year is near and it’s time to think about those last minute purchases that will save you money before 2014 rolls around.
We teamed up with Money Talks to find the 5 On Your Side things you should get between now and December 31st to help your wallet.
"I bought a car," said Nancy Kazik. After searching earlier in the year at Liberty Ford in Maple Heights, she didn't find what she was looking for. "So, I said the next best time to buy on is at the end of the year. So, I came in and cut a deal yesterday," she added.
Money Talks says buy that car now while the rebates are good.
"The incentives are incredible right now,” said Peter Syntax who’s the General Sales Manager at Liberty. “So, 2013s, we've got up to $10,000 off specific vehicles," he explained.
Plus, the sales tax deduction for your federal income tax form could be driving into the sunset and going away in 2014 unless Congress extends it again. And keep in mind if you're looking for a plug-in car like the electric version of the Ford Focus, tax incentives of up to $7,500 go away come Dec. 31.
Another area of savings is windows for your home. "I just changed the windows in my house and the difference is unbelievable," said Stanley Bernath. He’s the VP of Stanley Home Improvement, Inc. and he sells Nationwide Windows.
You still have time to open up energy efficient upgrades all around your home and take advantage of up to $500 in tax credits. However, you have to buy the building supplies and close the deal by the 31st.
Third on the list: health insurance. Money Talks says this is the best time to evaluate your plan and even check healthcare.gov for options.
SMALL BUSINESS EQUIPMENT
Number four: small businesses should stock up on equipment. In 2013, small businesses can deduct up to $500,000 on things like software and assets. Next year, it drops to just $25,000.
And number five, Money Talks says get yourself a budgeting tool. It will help you track your money and stay on target with your goals in 2014.