Procrastinators, rejoice: You still have time to cut your 2017 tax bill.
We’re officially in the middle of tax season. Filers have until April 17 to submit their returns and pay Uncle Sam. The IRS predicts that it will receive more than 155 million returns this year.
More than 7 in 10 taxpayers are expected to scoop up refunds this year, according to the agency.
If you’re holding off on sending your return, here’s an incentive to get moving: You only have a few weeks to implement these tax-savings tactics.
“The strategies for reducing your tax bill for 2017 revolve around claiming all of the deductions and tax credits you legally deserve,” said certified public accountant Debbie J. Freeman, director of financial planning at Peak Financial Advisors in Denver.
“Focus your attention on three separate items: deductions for adjusted gross income, tax credits and itemized deductions,” she said.
Here are a few savings opportunities that are worth another look, according to Freeman.
Source : CNBC
