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| Name | How Can I Lower My Taxes? 4 Easy Steps! |
| Video Uploader | Video From Greg Acton, CPA |
| Upload Date | This Video Uploaded At 11-08-2020 13:00:51 |
| Video Discription | So You Want To Pay Less In Taxes? Here are 4 easy strategies that anyone can use to lower the amount of money they pay in taxes! Get 2 Free Stocks ($2-$1,400) by depositing with WeBull https://act.webull.com/i/bWsBLV3B9T6t/j05/recommend_316_push Get A Free Stock when Signing up with Robinhoods: http://join.robinhood.com/gregora22 Videos to Watch Next: Tax Brackets Explained: https://youtu.be/99NIQAcdz6s 15 Or 30 yr Mortgage: https://youtu.be/5c8IM_8btcw Should You Refinance?: https://youtu.be/qeII1h39Z6E There are 4 really easy ways to save money on taxes. 1. Contributed to a 401K plan. If your employer offers a 401K plan you should take advantage of it and contribute money to it. Contributing money to a 401K play reduces your taxable income. At a minimum, contribute enough to get all of your employer match. You can contribute a maximum of $19,500 to your 401K. 2. Contribute to an IRA (Individual Retirement Account): An IRA is very similar to a 401K. Any contribution reduces your taxable income. You can contribute a maximum of $6,000 for an individual and $12,000 for a Married Couple. 3. Contribute to an HSA (Health Savings Account) This is a wonderful tool to help reduce your taxes. Money contributed to a HSA can be used for qualified medical expenses with no penalty. It can also be pulled at retirement just like a 401K or IRA. 4. Start A Business Having a business allows you to write off many expenses. These can include depreciating assets, office supplies, meals, etc. You can reduce your taxable income by taking advantage of tax write offs. I personally love real estate. I am able to make money on rent but also depreciate an asset to reduce my income! If you want to reduce the amount of money you are paying in taxes, implement these 4 strategies. qu5Y7C1ZgJg |
| Category | Education |
| Tags | How To Pay Less In Taxes | How to Reduce My Taxes | How to Save on Taxes | Tax Strategies | Personal Tax Strategies | How To Lower My Taxes | Tax Brackets | 401K Plan | IRA | Individual Retirement Account | Health Savings Account | HSA | Reducing Your Taxable Income | How To Reduce My Taxes | How To Lower Taxable Income | Taxable Income | Taxation | Taxes | Lower Taxes | Tax Deductions | Tax Credits | 401K | Reducing Taxable Income | Investing | Personal Finance | Saving Money | Self Reliance |
