Here are 55 things you can do to save on taxes:
- Contribute to a retirement account, such as a 401(k) or traditional IRA.
- Donate to charity.
- Look into tax credits that you may be eligible for.
- Review your tax withholding.
- Keep track of your tax-deductible expenses.
- Consider switching to a tax-advantaged health insurance plan, such as a Health Savings Account (HSA) or a Flexible Spending Account (FSA).
- Save receipts for business meals, entertainment, and travel expenses.
- Keep track of mileage for business travel.
- Claim the home office deduction if you work from home.
- Claim the Child and Dependent Care Credit if you pay for childcare.
- Claim the Earned Income Tax Credit if you have low to moderate income.
- Claim the American Opportunity Tax Credit if you are paying for college.
- Claim the Lifetime Learning Credit if you are paying for continuing education.
- Claim the Adoption Credit if you adopt a child.
- Claim the Student Loan Interest Deduction if you are paying off student loans.
- Claim the Self-Employment Health Insurance Deduction if you are self-employed and pay for your own health insurance.
- Claim the Self-Employment Tax Deduction if you are self-employed.
- Claim the Retirement Savings Contributions Credit if you make contributions to a retirement account.
- Claim the Educator Expense Deduction if you are a teacher or educator.
- Claim the Moving Expense Deduction if you move for a new job.
- Claim the Health Savings Account (HSA) Contribution Credit if you contribute to an HSA.
- Claim the Savers Credit if you make contributions to a retirement account.
- Claim the Foreign Tax Credit if you paid taxes to a foreign country.
- Claim the Credit for the Elderly or the Disabled if you are 65 or older or are permanently and totally disabled.
- Claim the Credit for Federal Tax on Fuels if you are a business owner and pay federal taxes on fuels.
- Claim the Credit for Alternative Fuel Vehicle Refueling Property if you own or operate a business that sells alternative fuels.
- Claim the Credit for Plug-in Electric Drive Motor Vehicles if you purchased a qualifying electric vehicle.
- Claim the Credit for Nonbusiness Energy Property if you made energy-efficient improvements to your home.
- Claim the Credit for Business Energy Property if you made energy-efficient improvements to your business.
- Claim the Credit for Carbon Dioxide Sequestration if you are a business owner and engage in carbon dioxide sequestration activities.
- Claim the Credit for Renewable Electricity, Refined Coal, and Indian Coal Production if you produce electricity from certain renewable sources or refined coal.
- 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.
- Claim the Credit for Employee Retention if you are a business owner and retain your employees during the COVID-19 pandemic.
- Claim the Credit for Increasing Research Activities if you are a business owner and increase your research activities.
- Claim the Credit for the Prior Year's Minimum Tax Liability if you have a minimum tax liability from a prior year.
- Claim the Credit for Small Employer Health Insurance Premiums if you are a small business owner and provide health insurance for your employees.
- Claim the Credit for Disability Access Expenditures if you are a business owner and make your
- Claim the Credit for the Rehabilitation of Historic Structures if you rehabilitate a historic structure.
- Claim the Credit for Renewable Electricity Production if you produce electricity from certain renewable sources.
- Claim the Credit for Alcohol Used as a Fuel if you produce or use alcohol as a fuel.
- Claim the Credit for Low-Sulfur Diesel Fuel Production if you produce low-sulfur diesel fuel.
- Claim the Credit for Biodiesel and Renewable Diesel Fuels if you produce biodiesel or renewable diesel fuels.
- Claim the Credit for Energy-Efficient New Homes if you build energy-efficient new homes.
- Claim the Credit for Energy-Efficient Appliances if you manufacture energy-efficient appliances.
- Claim the Credit for Energy-Efficient Commercial Buildings if you make energy-efficient improvements to a commercial building.
- Claim the Credit for Nonbusiness Energy Property if you make energy-efficient improvements to your home.
- Claim the Credit for Alternative Motor Vehicle Credit if you purchase a qualifying alternative fuel vehicle.
- Claim the Credit for Alternative Fuel and Alternative Fuel Mixtures if you produce or use alternative fuels or mixtures.
- Claim the Credit for Empowerment Zones if your business is located in an Empowerment Zone.
- Claim the Credit for Indian Employment if you employ Native Americans living on or near an Indian reservation.
- 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.
- Claim the Credit for Investment in Qualified Gulf Opportunity Zone Property if you invest in qualified property located in the Gulf Opportunity Zone.
- Claim the Credit for Investment in Qualified Zone Academy Bonds if you invest in qualified Zone Academy Bonds.
- Claim the Credit for Investment in Qualified Energy Conservation Bonds if you invest in qualified energy conservation bonds.
- Claim the Credit for Investment in Qualified Small Employer Pension Plan Startup Costs if you invest in a small employer pension plan.