14 Legal Secrets for Reducing Your Taxes

Consider these credits and deductions to help you save at tax time.

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Know the tax laws.

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By spending a few hours each year keeping abreast of the tax law, you can save thousands of dollars on taxes over the years. Keeping a tax-reduction mindset in your everyday life will serve your finances well. If you owe $1,000 in taxes and receive a $150 tax credit, your taxes owed decrease to $850. That’s an extra $150 in your pocket. Here are 14 ways to reduce what you owe Uncle Sam.

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