9 Simple Tax Strategies ANYONE Can Use!

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The more write-offs you can qualify for, the lower that your tax bill will ultimately be. However, even though write-offs can be extremely beneficial for reducing tax liability, many people still do not know all of the write-offs that they can potentially use. As a result, a lot of people do not save as much money as they could if they were more informed.

In this video, tax expert Karlton Dennis breaks down nine huge tax write-offs for individuals that almost everyone can use. Karlton’s goal for this video is to give people a better understanding of the types of deductions that people can use to lower their tax bills. Tax deductions reduce taxable income, which in turn reduces tax liability.

Keep in mind that these write-offs are for individuals, not businesses. These write-offs will be claimed on a personal tax return. Some of the tax deductions that Karlton breaks down in this video include HSA deductions, charitable contribution deductions, and more. If you want to see the full list, watch the video!

CHAPTERS:
0:00 Intro
0:29 #1: The Standard Deduction
1:17 #2: Retirement Contributions
2:05 #3: Charitable Donations
3:20 #4: Health Savings Accounts
4:20 #5: Medical Expenses
5:16 #6: Mortgage Interest
5:49 #7: State and Local Taxes (SALT)
6:38 #8: Student Loan Interest
7:51 #9: Capital Losses
8:35 Subscriber Question!
9:43 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#taxstrategies #taxpreparation #karltondennis