How to maximise your tax savings in 2024

English india Feb 05 2024 Author: Rashmi Kuttan Image Credits:Freepik

Understand Tax Deductions:

English Familiarize yourself with eligible deductions like investments in provident funds and insurance premiums. Image credits: freepik

Utilize Tax-Advantaged Accounts:

English Contribute to tax-efficient savings schemes such as 401(k)s or IRAs. Image credits: Freepik

Optimize Health Savings:

English Take advantage of health savings accounts (HSAs) to save on medical expenses. Image credits: freepik

Claim Deductions for Charitable Contributions:

English Donate to recognized charities and claim deductions on your taxes. Image credits: freepik

Plan Investments Wisely:

English Invest in tax-saving instruments like equity-linked savings schemes (ELSS) or municipal bonds. Image credits: freepik

Capitalize on Homeownership:

English Deduct mortgage interest and property taxes if you own a home. Image credits: freepik

Consult a Tax Professional:

English Seek advice from tax experts to ensure you're maximizing your savings within legal limits. Image credits: freepik

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