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10 Most Common Questions About Taxes

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4 Year-End Money Tips to Lower Your Tax Bill in 2020

4 Year-End Money Tips to Lower Your Tax Bill in 2020

Many Americans don't think about their tax bills until the new year. But there are things you need to do before Dec. 31 if you want to pay less later.


Author's Note: 10 Most Common Tax Questions

Taxes are a blessing in disguise. Yes, we all cringe when we see the minus signs on our paycheck or watch with horror as the TurboTax "federal tax due" ticker goes up and up and up. But paying taxes forces me to care about what federal and state governments are doing with my hard-earned money. It makes me pay attention to budget debates and vote for candidates whose priorities align most closely with mine. In short, paying taxes makes me a more active participant in this thing called a democracy. Thank you, IRS. (Yuck, did I really just say that?)

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Sources

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  • Center on Budget and Policy Priorities. "Policy Basics: Marginal and Average Tax Rates." April 15, 2013. (March 14, 2014) http://www.cbpp.org/cms/index.cfm?fa=view&id=3764
  • Fidelity. " A Taxpayer's Guide to 2013." (March 14, 2014) https://www.fidelity.com/viewpoints/personal-finance/taxpayers-guide
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