Tips

Tax Tips 2021

Posted on by John Weeks

6 Ways to Lower Your Taxable Income

  • Buy tax-exempt bonds.

  • Utilize Flexible Spending Plans.

  • Use Business Deductions.

  • Give to Charity.

  • Pay Your Property Tax Early.

  • Defer Some Income Until Next Year.

    • Additional Tax Tips

    • Claim credits for any dependent, no matter what their age.
    • Claim a deduction for business, farm, and rental income (QBI).
    • The standard deduction has increased for 2021!
    • Reduce your taxes by contributing to a qualified retirement plan.
    • E-File is the safest and fastest way to file your taxes.
    • Save for Retirement. Retirement savings are tax-deductible.