Perfectly legal tax savings strategies Americans may not be using


With tax Opens a New Window. season officially underway, most Americans are likely searching for the most efficient ways to lower their annual tax liabilities Opens a New Window. .

Turns out, many taxpayers probably aren’t employing all of the strategies they could be in order to reap the greatest benefit.

According to a new study from NerdWallet Opens a New Window. – which polled more than 2,000 people –  there are a number of viable tax strategies that a significant portion of Americans believe are not legal.

Here’s a look at some of the above-board strategies taxpayers may not be aware they can legally employ:

Mortgage payments

Twenty-six percent of respondents thought making an extra mortgage payment in order to take a bigger deduction during the current tax year was illegal.

You can make your January payment, for example, in December in order to count the interest toward the current year’s…

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Last modified: March 8, 2019

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