Tag Archive for: retirement contributions

Tax Deductions 2024: What Can I Deduct and How Do They Work?

The Internal Revenue Service offers scores of deductions to help you keep more of your earnings in your pocket. With a filing deadline of April 15, 2025, here's what you need to know about deductions for tax year 2024.

Seven Ways To Reduce Taxable Income

Due to tiered tax brackets and a progressive tax system—the more you make, the more you might end up paying. But there are many ways to lower your taxable income—and ultimately—the amount of taxes you pay.

Tax Credit vs. Deduction: What’s The Difference And Which Is Better?

Which is better, a tax credit or a tax deduction? The secret is in leveraging both to ease your tax burden. Before you start stumbling through your tax return, clear up any misconceptions about the differences and how both work to lower your tax liability and your tax rate in different ways.

How You Can Avoid A Tax Refund Shock Next Year

One way Americans can avoid being caught off guard next tax season is by conducting a thorough review of their tax return alongside a mid-year review of their income so far in 2023. Undergoing a mid-year assessment can help taxpayers estimate how much they will receive in tax refunds or what sort of balance they will owe next tax season.
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Key Takeaways From Your 2022 Taxes

It can be tempting to put those tax documents away and not think about them again until next year. Before doing that, however, consider checking your returns one more time to see if there's anything that might save you money and make tax filing season easier next year. Here are five questions to ask yourself before you close the books on last year’s taxes.
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Five Last-Minute Moves To Save On Taxes

if you're really savvy about your finances, you'll make moves that take into account your future tax liabilities and to boost your refund from Uncle Sam next spring as well as years to come. CLICK ON THE HEADLINE FOR MORE