12 ways to cut your taxes

The bright spot of the dreary 2009 economy: savings for everyone.

9 of 12

9. You own property but don't itemize

Those who itemize their deductions typically get credit for their property taxes. But those who didn't itemize missed out on this break in the past. For the 2009 tax year (as in 2008), joint filers who don't itemize are allowed to deduct as much as $1,000 of those taxes. This is especially valuable to anyone who's paid off a mortgage, or come close, and doesn't have enough mortgage interest to justify itemizing. Use the new Schedule L to nail down this deduction.

Potential savings: $280 for $1,000 in taxes

NEXT: 10. You picked up a second job

Last updated March 26 2010: 7:15 PM ET

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Savings assumed a couple filing jointly in the 28% bracket, unless otherwise noted.

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