While determining the percentage you’ll pay from your income is based mostly on what you make, you can influence your tax bill by managing how you generate income, choosing what accounts to invest in, and taking advantage of potential deductions. As a rule of thumb, this article tells you the three strategies you can use to manage your income taxes. These strategies deal with deferment to tax-advantaged accounts, management of asset location, and reduction with federal-income-tax-free municipal bond income.
To read more on the details of each strategy, click HERE.