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Tax Planning: What you need to be doing now, FA Playbook

It may seem that April 15th is a long way off but if you're hoping to escape a big tax hit, financial experts say you better start planning now.

There are big changes this year new rules, the expiration of the Bush-era tax cuts and new laws.

(Read more: Happy Holidays, now start tax planning)

Experts warn now is the time when you should be working with your financial advisors and accountants to look for ways to save the most money. Some steps you can start making now include deferring bonuses; accelerate deductions, paying alimony payments early, upping charity donations and getting rid of those looser stocks.

Sharon Epperson sat down with three highly regarded financial advisors to get their take in this FA Playbook.

(Read more: Your year-end financial checklist)

-Posted by Gloria McDonough-Taub

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