A thought - Prepay state and local income taxes now while you can

[Ms. Toad]

2. That's a risky move.

Assuming there still is a schedule A, If you deduct state and local taxes on schedule A to lower your federal taxes, then don't itemize the next year, you must include the state and local tax refund as income next year.

It is possible that Schedule A will be entirely eliminated (although I don't think so). If it isn't it will likely be treated the same way as choosing to go from itemizing to not (i.e you're just shifting income form this year to the next).

Property taxes and contributions should work - since they don't get included in next year's income if they create a refund this year.