Taxes can be a pain. Luckily, there are some creative ways to legally hack your taxes every year. What are some of your favorites?
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For me it would be:
Depreciation from rental properties
Tithing/donating at my local church.
You can get your taxes done for FREE instead of paying a firm if you are a qualified taxpayer.
In Canada, there is the Community Volunteer Income Tax Program (CVITP). Community organizations host free tax clinics where volunteers file tax returns for eligible people. Guidelines in most provinces are for individuals earning up to $35K, a two person family up to $45K, and so on. (see details: https://www.canada.ca/en/reven...ome-tax-program.html).
In the U.S., the IRS's Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs offer free basic tax return preparation to qualified individuals. Guidelines are for individuals earning up $57K. (see details: https://www.irs.gov/individual...qualifying-taxpayers).
If you are in another country, do a google search to see if there are similar programs.
Also, the FREE tax programs I mentioned in my previous post are always looking to find new volunteers and they provide FREE tax training where you will likely learn a few more hacks to save money on taxes, as per your opening question. Having gained experience completing taxes will look good on a resume too if you are looking to pursue a career in business or finance. Lastly, but equally important, it will also give you a great feeling at having helped others who may not be in as stable a financial position as you are.
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