How to LEGALLY Reduce Taxes! A Beginner's Guide

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Reducing taxes is something that many people want to know how to do. However, a lot of people have absolutely no idea how to do this. People who fail to reduce their taxes legally end up paying the maximum amount of taxes for their tax brackets. This prevents them from keeping a higher percentage of their income.

In this video, tax expert Karlton Dennis explains how you can legally reduce your taxes by implementing a wide variety of strategies. Some strategies for reducing tax bills are relatively simple, and others are a lot more complicated. However, implementing tax strategies is fully legal as long as the strategies are based on the provisions in the Internal Revenue Code.

Some people are able to reduce their taxes by 5 or 10 percent, and others are able to reduce them by up to 100 percent. The amount of money that you can save in taxes depends heavily on the particular tax strategies that you choose to implement. Some of the most powerful tax strategies involve real estate investing.

CHAPTERS:
0:00 Intro
0:11 Why It's So Important to Reduce Taxes
0:47 Contribute to Tax-Advantaged Retirement Accounts
1:57 Contribute to HSAs
2:57 Claim Key Tax Credits
4:04 Invest in Long-Term Rental Real Estate
5:35 Invest in Short-Term Rental Real Estate
6:52 Hold Your Investments for More Than One Year
7:58 Tax-Free Wealth Challenge! - August 2025 Promo
8:17 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.

#taxplanning #taxadvice #reducetaxforbeginners