Respuesta :

sharmapanisha018

Answer:

7 Best Tips to Lower Your Tax Bill from TurboTax Tax Experts

Take advantage of tax credits.

Save for retirement.

Contribute to your HSA.

Setup a college savings fund for your kids.

Make charitable contributions.

Harvest investment losses.

Maximize your business expenses.

Estimated tax payments must be equivalent to either 100% of your total tax from the previous tax year or 90% of the income tax you estimate to owe for the current year. Divide the total by four to calculate your quarterly payments. Prior to submitting an offer, all expected tax payments should be made.

What are the methods for reducing taxes?

The following tax-cutting strategies are available:

  • Contributing to a retirement account, whether through an employer-sponsored plan or an individual retirement account, is an efficient approach to minimizing taxable income (IRA).
  • Both health spending accounts and flexible spending accounts assist to minimize taxable income during the years in which they are funded.
  • For full- or part-time self-employed individuals, a long number of deductions are available to reduce taxable income.
  • You may reduce your taxable income by saving for retirement.
  • Some workplaces have flexible spending plans, so inquire about them.

To learn more about taxes, click

https://brainly.com/question/23347326

#SPJ4

Otras preguntas