There are a multitude of ways that you can lower your AGI during the tax year so that when you do file your taxes, you may owe less.
- Contribute to a Health Savings Account
- Pay student loan interest and claim those payments on your return
- Contribute to your company’s 401k
- Invest up to $6,000.00 in an IRA, $7,000.00 if aged 50 or older in most cases.
- If self employed, contribute to a SEP or SIMPLE plan.