How can I lower my tax bill?
You can lower your tax bill by paying attention to retirement contributions, your charitable contributions, and more. Financial expert Jean Chatzky explains all the ways you can start lowering your tax bill.
Transcript
[BLANK_AUDIO] Lowering your tax bill is one of those things that people spend
a lot of time planning in order to make happen, but there are some quick and easy ways that you can make sure that you're capturing
all of the credits and deductions that you're eligible for which will lower your annual bill. So pay attention to things like retirement
contributions. The more money you contribute to retirement the lower your adjusted gross income, the less you pay on taxes. Pay
attention to your charitable contributions, you've given things away, you gotta make sure that you're getting receipts for those
donations and that you're keeping track of all those donations. And there are slew of credits and deductions that are available for
everything from children, your dependents, to education and so
on and so on and so on. And the easiest way to make sure that you're getting all of the ones that you're eligible for
it's either to work with a tax professional, an accountant or an enrolled agent or to use tax software. Because tax software will
run you through a list of questions in plain English about your life, that makes sure that you get those credits and deductions
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