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.