How To Lower Your Taxes - 7 Legal Ways To Reduce Your Tax Bill
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No matter your age, income level, or tax bracket, you'd probably love to see your IRS burden shrink. While paying taxes is unavoidable, there are some things you can do to lower your IRS bill. Here are several perfectly legal options to look at.
If you're self-employed, you may incur certain expenses in the course of earning a living. For example, if you have to drive to visit clients, you can write off mileage on your vehicle. If you need to buy equipment or supplies, those costs are deductible, too. Keep detailed records so you know exactly what expenses to claim. If you own a business, you may want to apply for a small business credit card so you can put all of your work-related expenses on it and have an easy way to differentiate between those and personal expenses. If you're self-employed but don't own a business, you can instead designate one credit card for work-related expenses to make tracking easier.