Top 10 Ways to Lower Your Taxes Story

Top 10 Ways to Lower Your Taxes

If you want to lower your taxes, it’s important to have more than a vague understanding of how our tax code works, what tax bracket you expect to be in, and what sort of activities are incentivized and disincentivized by the Internal Revue Service.

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Ways to Lower Your Taxes

Max Out ALL Tax-Deferred Contributions Available

This may sound obvious, but if you’re not already contributing to the maximum allowed by the IRS in the various accounts t hat let you deduct tax-deferred contributions, this is where you need to start. Read More

Something in the neighborhood of 90% of taxpayers do not itemize deductions, taking the standard deduction instead.

You can lower your taxes by selling the losers, and ideally replacing them with something similar but not identical.

If you are an independent contractor or any kind of small business owner, it’s imperative that you understand how this deduction applies to your situation specifically.

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