When it comes to taxes, taking advantage of deductions can significantly reduce the amount of taxable income you report. One type of deduction that taxpayers can take advantage of is called “above-the-line” deductions. In this tax series, we will discuss the top 5 “above-the-line” deductions you should consider when filing your taxes.
401(k) Contributions
IRA Contributions
HSA Contributions
Student Loan Interest Deduction
Unreimbursed Educator Expenses
Conclusion
