Tax Tips 2021

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.