The Average American Got a $4,580 Tax Deduction by Doing This. Did You?

The Average American Got a $4,580 Tax Deduction by Doing This. Did You?

Welcome! Recs 11 The Average American Got a $4,580 Tax Deduction by Doing This. Did You? It's time to give yourself a tax cut! Image source: Flickr user silly_little_man. Everyone likes to cut their tax bill whenever they can, and with tax season upon us, millions of Americans are frantically looking for tax breaks they can take advantage of to pay less in April. There's a tax deduction that most Americans are eligible to take that can let you reduce your taxable income by thousands of dollars. Yet surprisingly, the vast majority of taxpayers pass up this lucrative tax break. Let's take a closer look at this deduction and whether you qualify for it. IRAs and you Many taxpayers know that one of the easiest ways to get a valuable tax break is to make a deductible contribution to a traditional IRA. For 2014 and 2015, those who have earned income from employment or from running their own business can contribute as much as $5,500 to an IRA,

Read full article from The Average American Got a $4,580 Tax Deduction by Doing This. Did You?