I paid 07 property tax in Jan 08. Can i also pay 08 property tax in Dec 08 and then claim itemized deductions?

Yes you can take credit for both years on your 2008 return.

You stated that you are trying to itemize this year. Even if you don't make that limit this year you will be able to take a $500 deduction ($1000 MFJ) for property tax if you do not itemize (it is added to your standard deduction).

Since your state doesn't have a state income tax you should be using the sales tax option.

There are several ways to look at itemizing deductions. Personally I think it is better if you cannot itemize. That means you are not spending a dollar to save between 10 and 35 cents.

You are correct, if your very close to that limit stacking your real estate tax is usually a good idea. Another idea is if you give a certain amount to charity it will help to accelerate the donations to this year instead of waiting until January. However, it is not worth making a larger donation just to be able to itemize.

Hope this helps.

I paid taxes like you in 2007 and I just received my tax bill for 2008, but unfornuately they are paid thru my escrow account and that will not be till next month. I believe you will be able to claim if you pay in 2008. I have read the section on taxes you pay and it does say you can only clain taxes you paid for during the tax year.

It is easy to find out go the irs web site find the tax booklet and read.

good luck

Although it is best to check with accountant, I believe based on logic the answer is yes. You can deduct for the year it was paid and since you paid them both in the same calendar year, you should be able to deduct them both.

In tax lingo, it's called "bunching" deductions. (I itemize in even numbered years.) It's one of the reasons your tax bills tend to say November 1 to January 31st as the due date.

Yes but then you can't take the deduction on your 09 tax return.

Yes its when its paid not when its due. There are other deductions on that page that can be prepaid. I do not remember which ones.

Yes.