Tips for decreasing your tax bill
Here are some tips to help whittle down your tax bill:
-Keep track of gifts to charity. Donated money, household items or clothing, art, etc. All these could be a tax deductable item.
-Protect cash in an I.R.A. An individual retirement account or health savings account can be a place to shelter tax refunds.
-In place of an I.R.A, simplified employee pension plan.
-Family opportunities. If you have a child in college - they could still be claimed as a dependent.
-Don't forget to scan the deductions list! self-employed people can especially find areas to deduct, such as health insurance costs.