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This Underutilized Account Could Help You Save Big on Taxes


If you paid more taxes in 2022 than you expected, you might want to explore strategies to reduce your bill in 2023. Retirement contributions and charitable donations might come to mind, but they're not the only ways you can lower your tax liability. Some might argue they're not even the best way to do so.

There's another account, available to many U.S. workers, that promises huge tax benefits you can enjoy now and in the future. But too often, people forget it even exists. Here's what you need to know about it.

Image source: Getty Images.

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Source Fool.com


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