Planning now however can make investing while paying lower taxes next year much easier.
For instance, many of the tax breaks given to investors in previous years expire on December 31st 2012.
This means a possible increase in dividend taxes and also Capital Gains taxes.
Planning now to invest the maximum in tax efficient products will pay off in the long run.
You should put as much money as you can into an IRA or ROTH IRA these vehicles shelter your investmentsfrom taxation both State and Federal.
Anyone under 50 can add $5,000 in the current tax year, over 50 and you can invest $6,000.
If you add $600 per month to your IRA you will find at the end of the year you will have filled up your savings and not have a struggle topping up your allowable sum.
Also look towards tax efficient products such as Municipal Bond offerings. I personally invest in A municipal bond fund, (Ticker MUB) it trades at about $109.00 at the moment, but it pays a reasonable yield about 3% and it is free of state and federal tax on its dividends. A nice little earner if you top out your IRA and need to save more money on dividends.
These products are available at a wide number of retailers such as banks and brokers.
One tip, don't waste time putting a product like MUB into your IRA you waste your tax allowance on a product which at present pays no taxes at all. Save your IRA for taxable resources.