Take advantage of your company's cafeteria plan and other tax-free benefits.
For example, your company's dependent care program is a great deal if you are in the 27% tax bracket or higher. The dependent care credit only gives you a tax credit of 20% of your child-care expenses, but through your company's cafeteria plan you will be getting a tax benefit equal to the tax bracket you are in. So if you are in the 30% tax bracket, you will be getting a tax benefit of 30% as well as a reduction of your state income tax.
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If you want the best in tax advice please see my blog at
LarryLaveTaxman@blogspot.com or email me
LarryLaveTaxman@gmail.com
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