01
A deduction reduces taxable income. A credit reduces the tax you owe, usually dollar for dollar.
02
Save receipts, statements and documents that support income, deductions and credits.
03
Check your paycheck withholding. Self-employed workers may need to make estimated payments.
04
Missing income, choosing the wrong filing status, math errors and overlooking eligible credits are common.
05
Use legitimate strategies, verify current-year rules and get professional help for complex situations.
Sources
IRS · Cover photo: Unsplash
Figures and rules can change. Verify current details before acting.
Educational information, not financial advice.