Ways to lower taxable income,
In this course we will learn about Ways to Lower Taxable Income course, designed to help individuals and small business owners understand proven strategies to reduce taxable income legally and efficiently. The course explores key methods such as maximizing retirement contributions through 401(k) and IRA accounts, using Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), and claiming deductions for mortgage interest, education expenses, and charitable contributions. You will also learn how to utilize business expense write-offs, home office deductions, and tax credits for education and energy-efficient upgrades. Additionally, the course covers advanced techniques like tax-loss harvesting, depreciation, and timing income or expenses to optimize tax outcomes. Through real-life examples and step-by-step guidance, this course will give you the confidence to apply these strategies, minimize tax liability, and keep more of your earnings while staying compliant with tax laws. TruePrep
