Don’t miss the state and local tax breaks
There are several ways for reducing your tax burden and some of them are offered by certain U.S. states. For example, taxpayers who live in New Jersey can deduct their medical costs when they exceed 2 percent of their adjusted gross income (AGI).
New York City also has its perks regarding taxes. There’s a parking tax for rented spaces in New York City, but David Snider, founder of New York City-based Harness Wealth says that NYC residents can waive half the fee by claiming an exemption.
No matter where you live if you really want to pay less in taxes, it’s a good idea to check with local and state authorities what deduction you can claim.
You might also like: Want to Avoid Paying Income Taxes? Here Are 12 States That Won’t Tax Your Retirement Income
