pull down to refresh
:) How to not pay them lol
The most common ways to reduce tax bills:
- Max out retirement accounts if cash flow allows (bitcoiners dont usually like this one unless they have access to the bitcoin ETFs)
- Use tax advantaged accounts like HSAs (same critique as above)
- Itemize taxes if possible - the standard deduction is high now so this may not work for everyone
- Tax loss harvest in down markets
- Manage business deductions
- Defer income to next tax year (business owner, or defer a bonus if possible)
- Income shifting to kids, as possible
- Donate to charity
reply
What's the answer to the most common question you get about taxes? :)