3 Tax-Planning Tips to Start 2021 Off Right
Many of us don't think much about taxes until April rolls around and we realize we only have a couple of weeks to submit our returns by the filing deadline. But the sooner you begin focusing on your taxes, the more savings you stand to reap. Here are a few tips you can start incorporating this year to lower your IRS burden and keep more of your hard-earned money for yourself.
If you typically itemize on your tax return rather than claim the standard deduction, you have many opportunities to write off legitimate expenses, whether it's medical costs, charitable donations, or business purchases. But you can't claim those deductions without the right documentation to back them up. Guessing at tax deductions is a good way to get your return audited. Rather than run that risk, implement a record-keeping system from the start.
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Source Fool.com
