Call us on
15108257563

55 Things You Can Do This Year To Save Taxes

55 Things You Can Do This Year To Save Taxes

Here are 55 things you can do to save on taxes:


  1. Contribute to a retirement account, such as a 401(k) or traditional IRA.
  2. Donate to charity.
  3. Look into tax credits that you may be eligible for.
  4. Review your tax withholding.
  5. Keep track of your tax-deductible expenses.
  6. Consider switching to a tax-advantaged health insurance plan, such as a Health Savings Account (HSA) or a Flexible Spending Account (FSA).
  7. Save receipts for business meals, entertainment, and travel expenses.
  8. Keep track of mileage for business travel.
  9. Claim the home office deduction if you work from home.
  10. Claim the Child and Dependent Care Credit if you pay for childcare.
  11. Claim the Earned Income Tax Credit if you have low to moderate income.
  12. Claim the American Opportunity Tax Credit if you are paying for college.
  13. Claim the Lifetime Learning Credit if you are paying for continuing education.
  14. Claim the Adoption Credit if you adopt a child.
  15. Claim the Student Loan Interest Deduction if you are paying off student loans.
  16. Claim the Self-Employment Health Insurance Deduction if you are self-employed and pay for your own health insurance.
  17. Claim the Self-Employment Tax Deduction if you are self-employed.
  18. Claim the Retirement Savings Contributions Credit if you make contributions to a retirement account.
  19. Claim the Educator Expense Deduction if you are a teacher or educator.
  20. Claim the Moving Expense Deduction if you move for a new job.
  21. Claim the Health Savings Account (HSA) Contribution Credit if you contribute to an HSA.
  22. Claim the Savers Credit if you make contributions to a retirement account.
  23. Claim the Foreign Tax Credit if you paid taxes to a foreign country.
  24. Claim the Credit for the Elderly or the Disabled if you are 65 or older or are permanently and totally disabled.
  25. Claim the Credit for Federal Tax on Fuels if you are a business owner and pay federal taxes on fuels.
  26. Claim the Credit for Alternative Fuel Vehicle Refueling Property if you own or operate a business that sells alternative fuels.
  27. Claim the Credit for Plug-in Electric Drive Motor Vehicles if you purchased a qualifying electric vehicle.
  28. Claim the Credit for Nonbusiness Energy Property if you made energy-efficient improvements to your home.
  29. Claim the Credit for Business Energy Property if you made energy-efficient improvements to your business.
  30. Claim the Credit for Carbon Dioxide Sequestration if you are a business owner and engage in carbon dioxide sequestration activities.
  31. Claim the Credit for Renewable Electricity, Refined Coal, and Indian Coal Production if you produce electricity from certain renewable sources or refined coal.
  32. Claim the Credit for Small Employer Pension Plan Startup Costs if you are a small business owner and set up a pension plan for your employees.
  33. Claim the Credit for Employee Retention if you are a business owner and retain your employees during the COVID-19 pandemic.
  34. Claim the Credit for Increasing Research Activities if you are a business owner and increase your research activities.
  35. Claim the Credit for the Prior Year's Minimum Tax Liability if you have a minimum tax liability from a prior year.
  36. Claim the Credit for Small Employer Health Insurance Premiums if you are a small business owner and provide health insurance for your employees.
  37. Claim the Credit for Disability Access Expenditures if you are a business owner and make your
  1. Claim the Credit for the Rehabilitation of Historic Structures if you rehabilitate a historic structure.
  2. Claim the Credit for Renewable Electricity Production if you produce electricity from certain renewable sources.
  3. Claim the Credit for Alcohol Used as a Fuel if you produce or use alcohol as a fuel.
  4. Claim the Credit for Low-Sulfur Diesel Fuel Production if you produce low-sulfur diesel fuel.
  5. Claim the Credit for Biodiesel and Renewable Diesel Fuels if you produce biodiesel or renewable diesel fuels.
  6. Claim the Credit for Energy-Efficient New Homes if you build energy-efficient new homes.
  7. Claim the Credit for Energy-Efficient Appliances if you manufacture energy-efficient appliances.
  8. Claim the Credit for Energy-Efficient Commercial Buildings if you make energy-efficient improvements to a commercial building.
  9. Claim the Credit for Nonbusiness Energy Property if you make energy-efficient improvements to your home.
  10. Claim the Credit for Alternative Motor Vehicle Credit if you purchase a qualifying alternative fuel vehicle.
  11. Claim the Credit for Alternative Fuel and Alternative Fuel Mixtures if you produce or use alternative fuels or mixtures.
  12. Claim the Credit for Empowerment Zones if your business is located in an Empowerment Zone.
  13. Claim the Credit for Indian Employment if you employ Native Americans living on or near an Indian reservation.
  14. Claim the Credit for Investment in Qualified New York Liberty Zone Property if you invest in qualified property located in the Liberty Zone in New York City.
  15. Claim the Credit for Investment in Qualified Gulf Opportunity Zone Property if you invest in qualified property located in the Gulf Opportunity Zone.
  16. Claim the Credit for Investment in Qualified Zone Academy Bonds if you invest in qualified Zone Academy Bonds.
  17. Claim the Credit for Investment in Qualified Energy Conservation Bonds if you invest in qualified energy conservation bonds.
  18. Claim the Credit for Investment in Qualified Small Employer Pension Plan Startup Costs if you invest in a small employer pension plan.