Maximize tax benefits from "summary" of Quit Like a Millionaire by Kristy Shen,Bryce Leung
When it comes to managing your finances, one key strategy is to take advantage of all the tax benefits available to you. By maximizing the tax benefits, you can reduce the amount of money you owe to the government and keep more of your hard-earned cash in your pocket. One way to maximize tax benefits is to contribute to tax-advantaged accounts such as 401(k)s, IRAs, and Health Savings Accounts (HSAs). These accounts offer tax benefits such as tax-deferred growth or tax-free withdrawals, allowing you to grow your money faster and keep more of it when you withdraw it in retirement. Another strategy is to take advantage of tax deductions and credits. By carefully tracking your expenses and claiming all the deductions you qualify for, you can lower your taxable income and reduce the am...
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