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3 Strategies to Lower Your Taxable Income in 2018 [The Motley Fool]

Berkshire Hathaway Inc. New (BRK.B) 
Last berkshire hathaway inc. new earnings: 11/2 07:00 am Check Earnings Report
US:NYSE Investor Relations: berkshirehathaway.com
Company Research Source: The Motley Fool
Tax reform might reduce your tax bill this year, but these three strategies could get it even lower. Thanks to tax reform, many Americans will see their tax bills go down in 2018. The marginal tax rates have gone down and the Child Tax Credit has doubled, just to name a couple of the changes that should put additional money back in the pockets of millions of Americans. That said, while your taxes may be reduced, it would still be nice to reduce them even more, right? Here are three suggestions that could help you reduce your taxable income, and therefore your tax bill, when it comes time to file your 2018 tax return early next year. Image Source: Getty Images. Get creative to maximize your deductions The Tax Cuts and Jobs Act has severely limited the amount of deductions that will be available to most Americans. For example, about one-third of taxpayers have historically itemized their deductions, which allows them to take advantage of the deductions for mortgage Show less Read more
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