Reducing Your Taxes For Dummies

by Eric Tyson

Overview

Get year-round insight on reducing tax burdens

This book walks you through the best strategies for reducing your personal tax burden and keeping more dollars in your pocket. If you plan and manage your finances all year round, tax season can be a cakewalk. Reducing Your Taxes For Dummies offers tips on maximizing your deductions, minimizing your income tax, and hunting for breaks on investment, real estate, and business income tax. Written by Dummies financial guru Eric Tyson (Personal Finance For Dummies, Taxes For Dummies), this guide explains tax basics, savings plans, retirement accounts, and myriad ideas for reducing your personal tax burden.

• Understand filing status, child tax credits, alternative minimum tax, IRS audits, and beyond
• Avoid common tax mistakes and identify all your possible deductions
• Plan and invest in a tax-wise way throughout the year
• Make the most of your retirement accounts and savings plans

Keep your hard-earned cash with Reducing Your Taxes For Dummies. It's full of year-round opportunities for reducing your tax burden and paying less in taxes each year.

Product Details

ISBN-13:	9781394245727
Publisher:	Wiley
Publication date:	04/30/2024
Pages:	336
Sales rank:	1,049,425
Product dimensions:	6.00(w) x 8.90(h) x 0.80(d)

About the Author

Eric Tyson is coauthor of Taxes For Dummies, as well as bestselling titles like Personal Finance For Dummies, Investing For Dummies, Real Estate Investing For Dummies, and Small Business Taxes For Dummies.

Table of Contents

Introduction 1

Part 1: Tax Reduction Basics 5

Chapter 1: Understanding the Taxes You Pay 7

Chapter 2: Trimming Your Taxes 17

Part 2: Personal Finance and Taxes 33

Chapter 3: Making Tax-Wise Personal Finance Decisions 35

Chapter 4: Maximizing Your Retirement Account 49

Chapter 5: Children and Taxes 75

Chapter 6: Reducing Estate Taxes 93

Part 3: Your Investments and Taxes 107

Chapter 7: Minimizing Your Taxes When Investing 109

Chapter 8: Understanding Your Investment Choices 133

Chapter 9: Investing in Funds 151

Part 4: Small Business Tax Reduction 171

Chapter 10: Small Business Taxes 101 173

Chapter 11: Choosing Your Business Entity 185

Chapter 12: Trimming Small Business Taxes 201

Part 5: Tax Breaks in Real Estate 223

Chapter 13: Getting Tax Advantages from Your Home 225

Chapter 14: Evaluating Real Estate as an Investment 247

Chapter 15: Looking at Tax Considerations and Exit Strategies 263

Part 6: The Part of Tens 293

Chapter 16: Ten Overlooked Opportunities to Trim Your Taxes 295

Chapter 17: Ten (Plus One) Tax Tips for Military Families 303

Index 311