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3 Effortless Ways to Minimize Your Retirement Tax Bill

The Motley Fool

Taxes are a part of life throughout your life. Worse yet, taxes have the potential to be even more stressful later in life once you're on a fixed income. That's why it pays to do what you can to minimize your retirement tax bill. What makes HSAs especially great is that they're triple tax-advantaged. That's huge.

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40 States Don't Tax Social Security Benefits

The Motley Fool

That's from a study by the Center on Budget and Policy Priorities, and it points to why you might make a budget priority of your own out of knowing how the state you live in now, or plan to later on, will or will not tax those benefits. There are 40 states -- plus the District of Columbia -- that do not tax Social Security benefits at all.

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The 3 Best Tax Tips for Single Americans

The Motley Fool

But as a single person, there are plenty of opportunities for you to eke out savings on your taxes. Read more: we researched free tax software and put together a list of the best options here 1. This year, IRAs max out at $7,000 for tax filers under age 50 and $8,000 for those 50 and older.

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Here's How Most Americans Are Filing Their Taxes in 2024

The Motley Fool

Image source: The Motley Fool/Upsplash Tax season doesn't have to be stressful and time-consuming. With tax software and other affordable tax filing options, many Americans can file taxes more quickly than ever before. Let's look at a few findings from the LoopMe 2024 Consumer Snapshot: Tax Season Insights.

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5 Ways to Lower Your New York State Tax Bill

The Motley Fool

Image source: Getty Images Ah, New York, the Empire State: home to the Big Apple, cascading waterfalls, and, not so proudly, some of the highest taxes in the nation. Whether you're a city slicker dodging taxis or a country dweller enjoying the serene landscapes, one thing unites all New Yorkers: the quest to lower that pesky tax bill.

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10 States With the Lowest Gas Tax

The Motley Fool

I'll soon be driving through two states with some of the highest gas taxes (I'm looking at you, New Jersey and Pennsylvania), but plenty of states have relatively low taxes. Gas prices fluctuate based on many factors, including demand and distribution, but one thing that all states have in common is that they charge gas taxes.

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Owe Money on Your Taxes? Here Are Your Options

The Motley Fool

Image source: The Motley Fool/Upsplash Many people who file taxes wind up getting money back from the IRS. But a tax refund isn't a given. And you may end up owing money on your taxes instead of being due money back. In that case, you really don't want to ignore your tax debt. Having to pay the IRS can be a bummer.

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