By Jason Alderman

If someone told you there's a way for you to potentially save hundreds - if not thousands - of dollars on your income taxes by simply spending a few minutes reviewing your benefits and tax paperwork, would you think it sounds like a late-night TV marketing scam? It's not.

You've still got a couple of months to tweak your employer-provided benefits and line up a few tax deductions that'll have you smiling next April 15.

Here are a few strategies to consider:

401(k) plan. If you haven't already maxed out on contributions for 2013, ask your employer if you can increase contributions to your 401(k) plan for the remainder of the year. Most people can contribute up to $17,500 in 2013, plus an additional $5,500 if they're over 50.

If you contribute on a pretax basis, your taxable income is reduced, which in turn lowers your taxes. If you contribute using after-tax dollars, you'll pay tax on the amount now, but the entire account value, including interest earned over the years, will be non-taxable when you retire. Either way, if your employer offers matching contributions (essentially, free money), you should contribute at least enough to take full advantage of the match.

Flexible spending accounts (FSAs). If you participate in employer-sponsored health care or dependent care FSAs, which let you use pretax dollars to pay for eligible expenses, be sure to spend the full balance before the plan-year deadline (sometimes up to 75 days into the following year); otherwise, you'll forfeit the remaining balance. If it looks like you'll have a surplus, consider which 2014 expenses you could pay before December 31, 2013.

You can use your health care FSA for copayments, deductibles and medical devices (e.g., glasses, contact lenses and braces). Note: Except for insulin, over-the-counter medicines are only eligible with a doctor's prescription.

Charitable contributions. If you plan to itemize deductions this year, charitable contributions made to IRS-approved organizations by December 31, 2013, are generally tax-deductible. If you've got extra cash now and want to lower your 2013 taxes even further, consider moving up donations you would have made in 2014.

Gifts. Most people probably will never reach the $5.25 million lifetime gift tax exemption limit - beyond which you would have to pay the 40 percent gift tax. But, if you're feeling generous, remember that if you give someone gifts worth more than $14,000 this year, you'll need to file a Gift Tax Return along with your federal tax return, even though you won't necessarily owe any taxes on the amount. (Married couples filing jointly can give $28,000 per recipient.)

Roth IRA conversion. People at any income level can convert part or all of their existing traditional IRAs or 401(k) plans from previous employers into a Roth IRA. With a Roth, you pay taxes now, but future earnings will accumulate tax-free. If your retirement is a long way off or you believe your income tax rate at retirement will be higher than it is today, such a conversion might make sense.

Remember, however, that converted balances (for pretax savings and their earnings) get added to your taxable income, thereby increasing your taxes - and possibly boosting you into a higher tax bracket for the year. Just make sure you don't need to borrow money - especially from a retirement account - to pay for the additional tax burden today; otherwise you could undo the potential long-term tax advantage of converting to a Roth IRA.

Jason Alderman directs Visa's financial education programs. To Follow Jason Alderman on Twitter: www.twitter.com/PracticalMoney

Enjoy beer, food, fun, and art at our fundraiser Arts & Draughts!

Join us as we sample BIER from our friends at MUGZ. We will also be featuring art from local artists and delicious treats! Come support educational programs and exhibits by raising a glass at the German American Heritage Center!

For more information, call Kelly at 563-322-8844 or email kelly.lao@gahc.org

NOVEMBER 2nd 5-8pm

GET TICKETS BY CALLING 563.322.8844 OR DROPPING IN!

$730,000 in Investments Will Fund Environmental Projects Along Lake Michigan 

CHICAGO - Governor Pat Quinn today announced more than $730,000 in investments to support local environmental education projects along the Lake Michigan shoreline and in the Millennium Reserve-Calumet region. Today's announcement is part of Governor Quinn's agenda to protect our natural resources and ensure a clean and healthy environment for future generations.

"These important investments will protect and manage the incredible natural and cultural resources surrounding our beautiful Lake Michigan," Governor Quinn said. "They will also involve thousands of students and residents of nearby communities in creating a better environment for all."

The projects are part of the Illinois Coastal Management Program (ICMP), which was officially formed in 2012 at the direction of Governor Quinn to protect and manage the natural and cultural resources along the 63 miles of Illinois' Lake Michigan shoreline. The ICMP Coastal Grants announced today are investments of federal funds in environmental education projects that help achieve one or more of the environmental priorities within the Illinois Lake Michigan Coastal Zone. These priorities include habitat, ecosystems and natural area restoration; priority rivers, lakes and harbors; invasive species; public access and recreation; sustainable development; and economic development.

"These projects will help thousands of people to learn more and do more in support of protecting and restoring the natural resources of the Lake Michigan shoreline, and the waterways and natural areas within the Millennium Reserve Calumet Core on Chicago's south side," Illinois Department of Natural Resources Director Marc Miller said. The department administers the Illinois Coastal Management Program.

For more information on the Illinois Coastal Management Program, visit the IDNR website at www.dnr.illinois.gov/cmp. Applications for the next round of grants for spring 2014 will be accepted from November 1 through December 16, 2013.

The Coastal Grant Program projects announced today include :

Expanding Youth Conservation Action in the Millennium Reserve - The Field Museum; $67,337

Through the "Expanding Young Conservation Action in the Millennium Reserve" project, the Field Museum will sustain and expand the scope and geography of its youth conservation action programming in the Illinois Coast Zone on Chicago's South Side, with a special focus on the Millennium Reserve in the Calumet region. It is expected that 15 trained educators and 300 students will be working on year-long conservation projects.

Calumet is My Back Yard - Chicago Public Schools; $100,000

Calumet is My Backyard program participants are approximately 600 high school students from 13 Chicago Public Schools  - many with their first experience in natural areas - working to restore and protect 12 natural areas within the Calumet Region, providing over 6,000 hours of stewardship work and scientific investigation annually. The students focus on waterways in the Illinois Coastal Zone, including Lake Calumet, the Calumet River, the Little Calumet River, and the Grand Calumet River.

Think Beyond the Banks: Education and Outreach - Friends of the Chicago River; $30,806.67

"Think! Beyond the Banks" is a one-year, renewable outreach campaign that links river health and education with real world, everyday actions that improve the Chicago River. The campaign combines elements of Friends' highly successful Chicago River Schools Network (CRSN) with new marketing materials and techniques to empower students to become river ambassadors within their schools, families and communities.

Experience Calumet Water Trails Community Workshops - City of Blue Island; $30,000

The City of Blue Island will hold a series of five workshops to raise awareness of Calumet area water trails, how water trails uniquely connect people to the ecological values of Calumet and to inspire stewardship activity.

Coastal Ambassadors Program - Chicago Park District; $96,371

The Chicago Park District (CPD) will create a new Coastal Ambassadors program to provide environmental education on coastal resources to thousands of children and families. Based on the successful Nature Oasis program in place at CPD, the team of educators will work with day campers, after school groups, families and other park customers through after school programs, field trips for day campers and family festivals.

Youth Outdoor Ambassadors - Forest Preserve District of Cook County; $99,115

The Forest Preserve District of Cook County will launch Youth Outdoor Ambassadors for the Calumet Region to facilitate youth and young adults having an active voice and role in the Forest Preserves.  The Ambassadors will identify which programs resonate with teens and how young people can become inspired to become lifelong advocates for nature.

Stormwater: From the Ground Up - League of Women Voters of Illinois Education Fund; $31,771.95

This project was born out of the April 18, 2013 storm in northeastern Illinois that caused widespread, destructive flooding.  Observing that most people did not understand how the storm sewer system worked, the Lake Michigan League of Women Voters will jointly conduct a campaign to educate citizens about problems associated with storm water runoff, emphasizing actions that individuals, communities and regions may take to prevent and alleviate flooding after rain events, with an emphasis on green infrastructure.

Lake Forest Ravine Education and Outreach Program - Lake Forest Open Lands Association; $74,036.70

The ravines of southern Lake Michigan play a critical role in protecting the water quality of the lake, preventing sediment runoff, protecting beaches, offering migrating birds a much-needed safe haven and protecting rare habitats native to this area. The Ravine Restoration and Outreach Program will create a comprehensive initiative to protect Lake Forest beaches and ravines, with education efforts and on-the-ground restoration.

AIS Outreach to Coastal Constituents - Illinois Natural History Survey; $38,500

Several aquatic Invasive Species (AIS) have been introduced into Lake Michigan via pathways including recreational boating and fishing, and intentional and accidental releases of invasive organisms in trade. Because prevention of introductions of new AIS is more cost effective than control or management of already established populations, prevention efforts will be promoted to recreational water users and water gardening hobbyists.

The Ripple Effect: Building a Community that Cares About Our Great Lake - Park District of Highland Park; $48,393

The Park District of Highland Park will develop interpretive signage, outreach materials, and purchase specialized science equipment to be used at their new Lakefront Interpretive Center opening in the summer of 2014 on Lake Michigan. The effort will enhance visitor learning about near-shore, dune and ravine ecosystems.

Millennium Reserve Regional Atlas - Biodiversity Project; $98,900

The project includes researching, writing and designing a report that outlines the great biodiversity of the Millennium Reserve region, with the Millennium Reserve Regional Atlas providing a resource for community leaders, local residents and educators to better understand the geologic, natural and human history of this unique region.

William Tillman Maritime Education Program - Prologue, Inc.; $57,210

This new program offers environmental education, job training and service learning for low-income, at-risk young people ages 16-24. Located along the Little Calumet River in Chicago's Riverdale neighborhood and adjacent to Altgeld Gardens, it is a counterpart to Prologue's new Tillman Maritime Academy, an alternative high school scheduled to open in fall 2014 for students who have struggled in traditional academic settings. The program will involve youth in a coastal and riparian setting working to gain employable skills and develop career pathways in maritime technology, waterway safety and conservation stewardship.

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