Chapter 6
Taxes: Reduce Them When You Can!
IN THIS CHAPTER
Figuring out taxable income and marginal tax rates
Decreasing your taxable employment income
Boosting your deductions
Making tax-wise investment decisions
Writing off your educational costs
Surveying your options for tax help
Taxes are likely one of your largest expenses along with your housing costs. So you should be highly motivated to reduce your taxes within the boundaries of the law. And you need to understand enough of the tax laws and rules so you don’t get whacked with penalties and interest charges. This chapter can help you stay on the right side of the law and understand what strategies you can use to reduce your income taxes legally and permanently.
Understanding Taxable Income
Your taxable income is income on which you actually pay income taxes. For example, your employment income and the interest you earn on ...
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