window.document.getElementById(’post-129′).parentNode.className += ‘ adhesive_post’;It’s true, you can lower your taxable income, you just have to know how to do it the most effective way. You might be thinking that you will simply work less house next year, but there are easy ways to keep your income the same and lower your taxable income.
The answer is through itemized deductions. Now, if you are not big into taxes and how they work, you are probably saying, “through what?” and that’s okay. Everything will be explained, even for the least tax-savvy person.
Before we talk about expenses that are tax deductible, let’s figure out why we want to collect this information for our accountant. When you file you taxes, you will either owe additional taxes or you will qualify for a tax refund, determined by the government’s standards and ratios of how many taxes you paid in comparison to your taxable income.
Your taxable income is any income that can be taxed. When you itemize your deductions, you are lowering the amount that is taxable income. Thus you will either end up paying fewer taxes than you would have, or you will receive a bigger refund from Uncle Sam.
There are many different categories to […]

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