Maximizing Deductions and Tax Credits

Maximizing Deductions and Tax Credits



The tax filing period is coming up and it’s time to look back over the year 2014.

With an eye toward maximizing deductions and tax credits, here are 3 tips which will help reduce your tax bill.

1.   Make charitable contributions (In Cash or non-cash)

2.   Save more money for retirement (any plan such as a 401K or an IRA is beneficial)

3.   Launch a business (something you are passionate about or don’t mind doing to help lower your tax burdens for years)