Make a Final Push With These Tax Strategies

Make a Final Push With These Tax Strategies
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Anne Johnson
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It’s never too late to save money. There are ways to cut down on next year’s tax bill, even if you haven’t planned all along. If you’ve earned most of your income, there are still strategies you can implement.

Start with reviewing your financial life. What are the obvious deductions? Then you should dig deeper. There are moves you can make to bring your tax liability down.

Open an IRA

If you have an individual retirement account (IRA), you can deduct your contribution from your taxes. But there are limits. In 2023 and 2024, the annual limit is $6,500 for those under 50. The contribution limit for those individuals over 50 is $7,500.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.
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