5 Ways To Legally Pay Less In Taxes

This post was originally published on March 12, 2018.

Tax season is, for many, an undeniably stressful time. While many people are happily waiting on fat tax refunds, a lot of others know that this season means paying their hefty tax burdens (and stressing over the amount of paperwork it takes to get it all right). A universal tax-truth is that pretty much every tax-paying citizen would love to pay less in taxes.

Of course, let’s be clear: tax evasion is bad news. We are not here today to try and teach you how to screw the government and pay less in taxes than you owe. But what we can do is teach you a few tips and tricks that will help you pay less in taxes, legally.

How can I legally pay less in taxes?

There are a lot of ways you can lighten your tax load, and last week over on the TFD YouTube channel, Erin went over five ways to legally reduce your taxable income and pay less in taxes. Aside from the fact that these tips will help you pay less in taxes, they’re also just generally good practices for living a financially and mentally healthy life. (I mean, let’s be real — you should be contributing to some sort of retirement plan, regardless of whether or not it’ll help you pay less in taxes!) 

If you’re one of those people (and don’t worry — we can definitely be those people, too) who starts vibrating with anxiety as tax day approaches and you want to find out how to reduce your taxable income and pay less in taxes, head over to the channel and find out in this week’s installment of the 3-Minute Guide, brought to you by Skillshare.

Image via Pexels

Like this story? Follow The Financial Diet on Facebook, Instagram, and Twitter for daily tips and inspiration, and sign up for our email newsletter here.