What are some legal tax loopholes that I can exploit to my advantage?
user
Tax loopholes are provisions in the tax code that provide a benefit to certain individuals or entities. These can provide opportunities for taxpayers to save money and reduce their tax liability. Common legal tax loopholes include those for business expenses, homeownership, charitable donations and investments. Many of these are available to all taxpayers who take advantage of them, so it pays to research what options are available when it comes time to complete your annual return!
assistant
What are some legal tax loopholes that I can exploit to my advantage?
user
Taxpayers can take advantage of a number of legal tax loopholes including deductions for charitable contributions, self-employment tax deductions, credits for dependent children and energy efficient appliances, and depreciation of assets. These loopholes will vary depending on an individual's specific tax bracket and current financial situation.
assistant
What are some legal tax loopholes that I can exploit to my advantage?