Lowering your AGI can help you reduce what you owe

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.

  1. Contribute to a Health Savings Account
  2. Pay student loan interest and claim those payments on your return
  3. Contribute to your company’s 401k
  4. Invest up to $6,000.00 in an IRA, $7,000.00 if aged 50 or older in most cases.
  5. If self employed, contribute to a SEP or SIMPLE plan.

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