Filed an Extension?

Now that you've filed an extension, let's break the tax preparation process into two parts: what must be done by 4/15 and what can be done after 4/15.

Are there any actions that a person can take by April 15th to reduce the amount of tax?Yes. Depending on what makes sense for your situation:

• Contribute savings to a traditional IRA and/or Roth IRA. Implication: figure out if you'll be able to deduct traditional IRA contributions or not; figure out if you're eligible to fund a Roth IRA or not; figure out if either of these makes sense for your situation.
• Contribute savings to a health savings account. Implication: figure out how much you can contribute and if this strategy makes sense for your situation.
• Donate to a charity providing relief to people impacted by Typhoon Haiyan. Donations made by 4/14 can be deducted on your 2013 return under a newly passed law.

Are there any actions that can wait until after 4/15 and before 10/15?

• Contributing savings to a SEP IRA or solo 401(k) if you're self-employed.
• Reviewing and finalizing your tax return.

Courtesy: William Perez, About.com