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Contribute the maximum allowable amount to retirement accounts like 401(k)s
and IRAs. These contributions can reduce your taxable income and help you
Take advantage of tax credits, such as the Earned Income Tax Credit (EITC)
and the Child Tax Credit, if you qualify. These can provide substantial
Consider itemizing deductions if they exceed the standard deduction. Common
deductions include mortgage interest, medical expenses, and charitable
Invest in tax-advantaged accounts and assets. For instance, capital gains
from investments held longer than one year are often taxed at a lower rate.
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