human
What are some tax-saving strategies I can use?
assistant
Some tax-saving strategies you can use include:
1. Contributing to a retirement plan like a 401(k) to get a tax break on your contributions.
2. Making sure to take advantage of all available tax credits and deductions.
3. Maximizing your deductions by tracking expenses and receipts throughout the year.
4. Taking a look at your withholding and making sure you’re taking the right deductions up front.
5. Investing in a Health Savings Account to reduce your taxable income.
6. Deferring income or investments into a 529 plan where the growth is tax-free.
7. Lowering your income by making contributions to a Traditional IRA or Roth IRA.
8. Maximizing your use of pre-tax dollars to pay for medical/dental expenses.