How To Save On Taxes
📖 Bu rehber ToolPazar ekibi tarafından hazırlanmıştır. Tüm araçlarımız ücretsiz ve reklamsızdır.
1. Max out 401(k) contributions
Taxes are usually the largest expense in a household budget. Most people just accept whatever comes out of their paycheck. A little tax literacy can save thousands per year — entirely legally. This is the basics, not a CPA replacement.
2. Use an IRA
Always consult a tax professional for your specific situation; below are the common levers worth knowing.
3. HSA if you’re eligible
Every dollar into a traditional 401(k) reduces your taxable income now. $23,500 max in 2026. If your employer matches, that’s free money. Single biggest tax lever for most W-2 employees.
4. Take every deduction you qualify for
Traditional IRA = tax deduction now, taxed at withdrawal. Roth IRA = no deduction now, tax-free growth forever. $7k/year limit in 2026. Most people should have one of these in addition to 401(k).
5. Tax credits > deductions
Triple tax-advantaged: tax deduction on contributions, tax-free growth, tax-free withdrawals for medical. The best account type that exists. Requires a high-deductible health plan.
6. Harvest losses
Student loan interest, mortgage interest, state/local tax (capped at $10k), charitable donations, medical over 7.5% of AGI. Itemize when deductions exceed the standard deduction ($15k single, $30k joint in 2026).
7. Hold investments long-term
Credits reduce tax directly, dollar for dollar. Child tax credit, education credits, EV credit, home energy credits. Less glamorous than deductions but often worth more.
8. Self-employed: the SEP or Solo 401(k)
In taxable investment accounts, sell losers to offset gains. Up to $3,000 of excess losses deduct against ordinary income. Be aware of wash sale rules — don’t buy back the same security within 30 days.
9. Business expenses if you freelance
Long-term capital gains (over 1 year) are taxed at 0-20%. Short-term are taxed as ordinary income (up to 37%). Waiting an extra month can save tens of thousands on large holdings.
10. Hire a good CPA
If you have freelance or business income, you can contribute massive amounts (up to $70k in 2026) pre-tax. Among the biggest tax shelters available. Worth the paperwork.