<prompt> Human: Made a throw away for this acc since this will contain personal info.I am 23 y.o. male chemical engineering senior at a school. I dont know anything regarding taxes and such. However, i do know that my parents financial situation is not very great. thus saving more is great.I have 2 half baby siblings, 9 y.o sis and 6 y.o. brother which is why saving for future is even more crucial. in addition, my parents DO NOT know anything regarding retirement and such, and my dad is already in his 50s, with probably no retirement account.They informed me that for last year, they had to pay 6000 in taxes. and they might have to pay even MORE this year. they have a CPA do their taxes.Is there a way to take advantage of lower tax pay? also what should they be doing to prep for the future regarding the kids and their own retirement?SIDE Question: if they put their money into the stock market or something and keep it long term, would they not have to pay taxes on it till the day they take it out?  <response>: is it 6,000 in total taxes? FICA, state and federal as well as unemployment taxes? That is not much at all... 